How can Florida homeowners find the extra money to make their dream patio and home improvements a reality?
Thinking of upgrading your home or outdoor living space?
Not sure how you can afford it, or just wish you had a little more liquidity and didn’t have to dig into savings to make it happen?
The great news is that from pool enclosures to sun rooms, insulated covered patios, to car ports and pergolas there are a variety of financing options available to Broward and Miami-Dade County residents.
1. In-House Vendor Financing
Established South Florida hurricane protection and patio experts like Alumicenter, Inc. often offer in-house financing, or at least have relationships with specialist financing sources for needs like these.
2. Home Equity Loans
As the FL housing market has been improving mortgage lenders have become increasingly eager to grant new home equity loans and lines of credit, especially when it means improving the property they are loaning on. Your bank or current mortgage lender might be happy to fast track some extra cash your way if you just ask.
3. Refinance
With home equity up, and mortgage interest rates still at incredible lows many S. Fla. Homeowners could find even more benefits in refinancing existing mortgages and lowering their overall house payments, while getting the money they want to make dream home improvements. Even under programs which don’t traditionally permit borrowers to walk away with tons of cash in hand, exceptions are often made when making home improvements.
4. Signature Loans
Most banks offer signature loans. These can be secured or unsecured depending on a property owners’ credit rating and often offer low rates.
5. Credit Cards
In many cases Miami homeowners may simply be able to put upgrades like new patio covers, screened pool enclosures and hurricane shutters on their credit cards.
6. Government Grants & Loans
Local governments and housing authorities offer many different programs for repairing and improving homes. This is especially true in Broward County, FL where grants and loans are available to help individuals buy new homes by aiding them with closing costs and down payments, as well as for upgrading homes, making energy efficient improvements or repairing properties hit with storm damage.
So whatever your dreams of stepping up your home, improving energy efficiency or expanding your outdoor patio space, don’t give up until you’ve explored the above financing options.
