Is Financing a Landscaping Project Worth It?

landscape

Any real estate expert in Iowa would admit that good landscaping is a sound investment. It can turn an ordinary house into a neighborhood spectacle. No property has ever dipped in value after scoring significant points in curb appeal following a well-thought-out landscaping job.

Unlike lawn care in Cedar Rapids, Marion, and Mount Vernon, a full-blown landscaping upgrade can be costly. Fortunately, you are just one personal loan away from turning your dream project to reality.

But is it worth it? Does it make sense to take out a sizable debt just to make your house prettier from the street? Below are the questions you need to answer to determine whether a personal loan application is justifiable:

How Much Money Do You Need?

Real estate pundits believe that landscaping should represent 10% of a property’s value. Based on what you know your house is worth, you probably have an idea about how much you need to spend to spruce up your yard.

Of course, the cost of your landscaping project depends on the size of the space as well as the features you want to have. Architecture generally dictates the proper landscape design, so use your house’s style as a guide to learn about the precise elements you should incorporate to do it right and get a reliable estimate.

How Good Is Your Credit?

Having poor credit usually does not disqualify you from a personal loan. It can, however, affect how much you could borrow and what interest rate you would be offered. If your credit needs much to be desired, seeking funding for your landscaping project could get a little expensive.

How Strong Is Your Financial Profile?

If you have poor or fair credit, having a stable job, a good income, and a low level of indebtedness could be your saving graces. Your more attractive credentials could help make up for your less than stellar FICO scores and boost your overall creditworthiness.

house with landscaping

How Urgently Do You Need It Done?

If you are not in a hurry to beautify your outdoor living space, then you should consider saving for it instead of financing it. If you think it would take you forever to fund it completely, you might want to shoulder a portion of it using your own money and then borrow the remainder.

How Hot Is Your Real Estate Market?

Do you want to improve your landscaping now to jack up the value of your property before listing it? If so, this project is right on the money. It has the potential to generate more than 100% return on investment.

However, its ROI depends on the temperature of your real estate market. If it is hot, it means that there is a high demand for housing, and the inventory is low. If it is cold, the supply of listed properties does not decrease due to low demand or high inventory.

The real estate market temperature dictates whether sellers or buyers get to have more negotiating power. You could command and convince people to bid higher only when the market is hot enough. Otherwise, your new landscaping might impress interested parties but not discourage them not to play hard to get.

The practicality of financing a landscaping project depends on your motivations and market conditions. Make sure that the stars are aligned before you pull the trigger on your loan application to have no regrets about it later on.

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