Whether you’re looking to redo your countertops through a financing, borrow for a countertops upgrade, or finance a new countertops project, it’s important to pick the right loan option.
Choosing to buy countertops in New Orleans now and pay later gives you several benefits:
– Savings on your project: Remodel loans can have major differences in interest and fees. Picking the right option could save you thousands of dollars.
– Manageable monthly payments for your project: It’s important to pick a financing option that won’t blow a hole in your monthly budget.
– No one-time hit to your bank account: You may have the income to responsibly finance your renovation, but want to avoid a large one-time hit to your bank account. Financing can help you spread out your costs, but you’ll have to pay interest and fees.
In this article, we’ll show you how to get financing for your countertop project and save money in the process. We’ll also tell you about the options we offer. Additionally, we’ll also explain when it may be best to wait and save up the cash.
Choose a financing that’s right for you
You can qualify for affordable remodel financing plans. These plans allow you to design, install and enjoy your countertops now, with a comfortable payment program that fits your needs.
With Stone Interiors in New Orleans, you have several easy payment options available to finance all or part of your project. Based on your credit score and down payment, our design consultant can help you determine what works best with your budget.
When should you consider buying now and paying later?
Simply put, the choice to buy countertops in New Orleans now and pay later is for people who don’t have the cash to finance the project they have in mind. This could be everything from a bathroom or kitchen makeover or even an additional room to the home.
When considering renovations, bear in mind that the total cost will probably involve much more than just labor and materials. Often, this figure includes fees for architectural and engineering services, inspections and permits, and potentially having to put up a contingency reserve of 10 percent.
Various types of loans are available, most of them contingent on how much equity you have built up in your home. Whatever your project is, there’s probably a mortgage or personal loan that will allow you to buy now and pay later.
Alternatives to a Home Renovation Loan
If you have very healthy credit and a less expensive project in mind, you can use a credit card with a promotional no-interest period as an alternative to a full renovation loan. Isolating your project costs on a separate credit card will make it easier to keep those expenses on your New Orleans countertops, separate from your usual spending, while a no-interest offer will minimize the cost of borrowing the money. Just remember that it can be easy to overspend with a credit card, so make sure you’re confident you can use it responsibly and repay the balance quickly.
There’s also the cash-out refinancing option for New Orleans remodels, which involves refinancing your current mortgage at a higher loan amount and using the extra cash for a renovation. This choice might make sense if you have at least 20% equity in the home, a good credit score and low interest rate options available in the market. Look carefully at current rates, lenders, and how much equity you have in your home before choosing to buy countertops in New Orleans now at a loan.
Which approach is right for you when looking to buy now and pay later?
Paying for your New Orleans kitchen countertops with a personal loan is often the best choice if you can’t claim a tax break for home equity loan debt and you don’t want to jeopardize your house.
If you’re confident you can pay back the loan, you itemize on your tax return so you can deduct interest, and you aren’t worried about potentially owing more than your house is worth, then it may make sense to consider a home equity loan. Just be sure whatever loan you choose is affordable and covers the costs of the remodel you need to complete.
Stone Interiors is offering remodel loans, even at 0% interest to our clients in New Orleans. Take advantage of these offers to get that countertop upgrade you’ve been putting off for so long.