If you’re in the midst of planning your summer home repairs, you’re not alone.  June, July and August are traditionally months when people around Ontario work on their properties.  Some intend to sell them sometime in the near future; others simply want to enjoy them or spruce them up.  Whatever your reason, it’s important to realize you have a variety of finance options when it comes to paying for projects such as foundation waterproofing or roof repairs.

#1: Pay in cash.

While this may sound obvious, some people don’t realize that paying in cash can provide them with discounts. Because major credit card companies charge a percentage to home improvement companies, those companies may offer a discount to those who pay upfront in cash.

#2: Put the cost on a credit card.

Credit cards regularly announce great deals such as low interest rates or no interest rates for a certain period of time.   Take advantage of these types of financing options when you know you need time to pay off a job, but you want to make sure you won’t be overpaying in interest.

#3: Refinance your home.

Refinance agreements will not only lower your monthly mortgage payment, but they may even leave you with some cash to put towards home improvements like drying your wet basement.  Always shop around for the best deal and lowest rates.

#4:Borrow against your home equity.

Have you owned your home for a significant amount of time?  You probably have several thousand in home equity. This will enable you to borrow more money, usually up to your home equity credit line.

#5: Get a loan from your financial institution.

It doesn’t hurt to ask your bank or other financial institution about a line of credit.  This type of loan allows you to pay as you go.  You’ll be given a top amount of “x” dollars; you can spend up to this amount and pay it back through your checking or savings account on a monthly basis.

Don’t deal with irritating problems like basements that haven’t been waterproofed or foundations that are cracked!  Choose smart financing options and turn your home into the castle it deserves to be. The Crack Doctor can help you understand your finance options, including zero percent financing.

Want to talk about your wet basement?  Contact The Crack Doctor at 1-866-788-3288 for a free estimate.