If you buy a house, you may like to see that it has a fence around the front and backyard. Perhaps you have some kids or a dog who likes to play in the yard. You will be happy knowing that there’s a fence encircling the property that will keep your pet or your youngsters from running out into the street.
If your property does not have one yet, you might want to know about your options for financing a fence and how much that generally costs. We’ll talk about that in the following article.
Getting a Loan for Your Fence
First, let’s discuss financing your fence. Maybe you don’t have the money to pay for your fence outright. Fences can be expensive, and you might not have the cash in savings to pay for this expenditure upfront.
If that’s the case, you might visit a credit union or bank and talk to someone who grants personal loans. You will likely want an unsecured loan for your fence, meaning one where you don’t need to put anything up as collateral.
You can probably get a good interest rate on a personal loan if you have the combination of a steady, well-paying job and also at least a decent credit score. The higher your credit score is, and the more stable your position seems to be, the better your chances of getting the loan.
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If you can get a loan with an interest rate of 5-9%, most consumers feel that’s pretty good. If you don’t have the best credit score, then you might get one in the 10-18% range. That’s not great, but if you feel you can pay off the loan relatively quickly, it still might be a viable option.
Financing Directly with the Fence Company
Another option would be to set up financing directly with the fence company if you can’t pay for the whole thing upfront. Talk with the individual representing the company and ask them about financing options.
They might let you put some money down and then pay for the rest of the fence in installments. They may give you as long as a year or even a couple of years to pay off the whole fence in some instances.
What Should You Expect to Pay?
Much like getting a new roof or similar home improvements, there are several factors that will go into how much your new fence costs. For instance, you must consider how large of a property you’re trying to enclose. You should also factor in what materials you want, as a simple chain-link fence will not cost as much as a wooden one.
On average, a fence will cost anywhere from $2,000-$4,500. You might pay less or more, though. It all depends on whether you have an enormous property and whether you want a high-end fence style that provides aesthetic appeal as well as practicality.
Is This the Year You Buy a New Fence?
With the onset of the spring season, many homeowners are thinking about improving their properties in various ways right now. Getting a new fence certainly qualifies.
You might finance your new fence directly with the fence company, or perhaps you’d feel more comfortable getting a loan from a credit union or bank. You should see what kind of offer you get from the fence company and any lenders who seem receptive toward giving you a loan.
Your new fence is an investment. It should add value to your property, which will come in handy if you ever decide to sell. In the meantime, you can enjoy the practicality of your new fence. It can provide both safety and security, making it a worthwhile purchase.
