Are you dreaming of a new outdoor space? Whether it’s renovating your backyard into a summer oasis, adding a new deck, or patio, an outdoor remodeling project can breathe new life into your home. However, the financial aspect of these projects can sometimes feel overwhelming. Fortunately, there are several financing options available for your deck, patio, or outdoor space that can help turn your outdoor vision into reality without causing financial strain.

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Ways to Finance Your Home Remodel

Home Equity Loan:

One of the most popular methods to finance a major home improvement project is through a home equity loan. This type of loan allows you to borrow against the equity you’ve built up in your home. Home equity loans typically offer lower interest rates compared to other types of loans because they are secured by your property. This can be especially beneficial for larger projects such as outdoor remodeling, where the expenses can quickly add up. The loan provides a lump sum, which means you can start your project with all the funds in hand, ensuring that cash flow won’t halt your progress.

Personal Loan:

If you prefer not to use your home as collateral, a personal loan might be the right choice. Personal loans are unsecured loans that provide flexibility and quick funding, which can be ideal for smaller to medium-sized projects. The interest rates may be higher than those of a home equity loan, but qualifying may be easier if you have good credit. This makes personal loans a versatile option for funding your outdoor remodel without tying the loan directly to your home’s equity.

Cash-Out Refinance:

Another way to tap into your home’s equity is through a cash-out refinance. This involves refinancing your current mortgage for more than you owe and taking the difference in cash. It can be a great option if you can secure a lower interest rate than what you currently have. This not only gives you the money you need for your remodeling project but potentially lowers your monthly mortgage payment. It’s particularly useful for homeowners who are planning substantial improvements that will increase the property’s value and their quality of life.

Planning Your Outdoor Living Project Budget

Before diving into your outdoor living project, it’s crucial to meticulously plan your budget. Start by doing your research and getting quotes from outdoor living contractors. Always add a contingency buffer—typically 10-20%—to cover unexpected expenses that arise during home improvement projects. This preparation helps you avoid financial strain and ensures you can complete your project as planned.

Benefits of Financing with 13TEN Renovations

Choosing the right financier can be as important as selecting the right deck or patio contractor. Financing your outdoor remodeling project through a 13TEN Renovations provider offers several advantages:

  1. Competitive Rates: Momnt offers some of the most competitive rates in the market, making your loan more affordable over time. With options of 84 month loan with fixed 8.99% financing, 12 months no interest or payments, or fixed payment of 2% of project cost, we’re determined to find the right financing option for you. 
  2. Flexibility: Understanding that every homeowner’s needs are different, 13TEN Renovations provides flexible loan terms, through Momnt, that can be tailored to fit your specific financial circumstances and project size. This flexibility allows you to manage your repayments more effectively, aligning them with your financial goals and cash flow.
  3. Simplicity: The application process is straightforward, minimizing the hassle often associated with securing financing. Featuring a quick and easy online application and $0 down payment, we’ve streamlined the process. This ease of access allows you to focus more on the project itself rather than on lengthy financial processes.
  4. Customer Support: Our team and financing partners are ready to assist you through every step of the way, from application to final payment. This support ensures that you have all the information and help you need to make informed decisions about your loan.

Financing Your Outdoor Living Project

Financing an outdoor living project doesn’t have to be stressful. By understanding the different financing options available and planning your budget carefully, you can tackle your project with confidence. Partnering with a reliable company not only provides you with financial resources but also ensures a smooth and supportive borrowing experience. Start planning today, and soon you’ll be enjoying your new outdoor space!