A Guide on How to Finance Your Dream Fence
If you’re considering getting a fence for your yard, maybe you have a particular one in mind. There are several different fence styles. Some are more costly, while others are relatively inexpensive.
If you feel this is the year you’ll move forward and get your fence, you’ll naturally have some questions. How much is an appropriate price to pay for this purchase? Can you finance a fence? If you can, then what kind of payment structure makes the most sense?
We will answer each of those questions in the following article. Keep reading as we explain the best way to get your dream fence in 2023.
Is It Possible to Finance a Fence?
The first thing worth knowing is that it is indeed possible to finance a fence. You can do so in several different ways. The first is to pay for the fence in installments. If you do this, you could set up a financing plan directly with the company selling you the fence and erecting it.
The company will probably expect you to put some money down when they start the project. You’ll sign a contract and then hand over the amount of money to which you agreed. You might give the company a check or money order, though some accept credit cards as well.
Like financing a car or anything else, it usually makes sense to put as much down for the fence in the beginning as you can afford. That means you will have fewer payments in the future, and those payments will be for less money.
You might pay for the fence over the next year or two. Depending on your agreement with the company installing it, you may give them monthly payments until you’ve paid off the full amount. Quarterly payments are also possible.
Do You Have Other Financing Options?
You might also approach a lending entity like a credit union or bank and ask them for a loan. You can use that loan to buy the fence. If you do this, you’ll usually pay in full. Then, you’ll owe the lender money instead of the fence company.
Doing this might make sense if you have good credit. If you do, then you should be able to secure a low interest rate on your loan. If you have a decent credit score and a steady job, then there’s a good chance the lender will approve your loan.
The only drawback with this method is that you must pay interest on the loan until you pay all of it back. Many times, when you set up financing with the fence company, you will pay no interest. You must simply pay for the fence in set installments according to the contract terms to which you agreed.
How Much Does the Average Fence Cost?
The average fence costs anywhere from $2,000 to $4,500. However, you might buy one for as little as a few hundred dollars in some instances. You might also pay considerably more.
With fences, the style you get makes a huge price difference. If you get a custom-made, stockade-style wooden fence, it makes sense that it would cost more than a simple chain-link one. You must also factor in how big of a yard you’re trying to enclose.
Should You Finance a Fence?
Financing a fence makes sense if you want one to enclose your yard, and you can’t pay for it all at once. You can finance with the fence company and pay what you owe according to the contract terms to which you agree.
You might get a personal loan from a credit union or bank. That works as well, though you must pay interest on the loan until you’ve paid it back.
Either way, you’ll enjoy your new fence, and it should add to your property’s value.