DIY vs Purchasing Outside.. Which is Better?

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Recently, I had been thinking of renovating my room and giving it a brand new look. However, I had been pondering over this question for a couple of days.. Do It Yourself (DIY), will it be much better than purchasing the items from outside? I heard from a few friends of mine that DIY-ing the items while renovating your room will be much cheaper than purchasing the items from outside. On top of that, it would also give one a sense of achievement and satisfaction upon the completion of renovation. However, I am torn between choices as DIY would take up lots of my time (which is never enough to begin with). What are your advices? Is DIY better than purchasing items? Or is purchasing items much better? What are the pros and cons of both. Does anybody have experiences to share with me?