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Another unique way to finance a remodel

Dollarhouse_3It’s not until you hear of a remodeling contractor that offers financing, as does Custom Design & Construction in Los Angeles, that you realize how odd it is that more companies don’t do this.

Think about it: What if you went to buy a car and your experience was similar to how it is with most remodeling companies? You’d determine your budget, pick out your car, select your options and decide on a delivery date, and then the car dealer would send you off to get a loan somewhere.

Instead, of course, car dealers offer financing right there on the spot. Same with furniture stores, clothing stores and big-box stores. You’ve seen the ads: No payments until January!

Of course a remodeling company offering financing (either in-house or through lender partners) opens up a whole new window for fraudulent behavior. So you would pursue this option only with a highly regarded company. I only mention this company because I’ve interviewed its owner, Bill Simone, for magazine articles, and I happen to know that his is an ethical and very respected company. Check out the awards Simone’s company has won. And his accomplishments. That’s impressive.

So when looking for a company that offers financing, make sure it’s one of the most reputable companies in town.

1 Comment on Another unique way to finance a remodel

  1. One of the aspects of car-financing that may not translate easily to remodels is the fact that most car loans are secured. If worse comes to worse and a person who defaults on payment, the creditor can repossess the vehicle. In a remodel situation, it would be difficult for the company to repossess the materials and labor that went into the remodel. I suppose the only other comparable option would be to use the house itself as security but that would not likely be collectible until the house was eventually sold. Yet, I am highly intrigued by the concept of on-the-spot financing for remodels!

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