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by Ada Denis

An outdoor home improvement project, such as the addition of a backyard deck or professional landscaping out front, can usually be financed quite easily, since it adds to the value of your home. Whether you are looking to sell your home quickly, or just firm up your long-term investments, obtaining financing for your outdoor projects makes sense.

1. Determine the reasons why you want to finance an outdoor home improvement project. If you are looking to increase the value of your home for a quick sale, you might want to think about installing copper plumbing or a new roof. A financial institution may be more likely to improve this type of loan since the investment will be recouped more quickly as the result of as sale.

2. Determine which outdoor projects increase the value of your home, and which ones don’t, before you approach a bank or lending institution to finance any home improvement project. For instance, any project that increases the usable square footage of your house, such as the addition of an enclosed patio or a backyard deck, may be quickly approved by a bank. Swimming pools, landscaping and luxury items such as fountains and ponds may not.

3. Ask the financial institution that holds your mortgage to finance outdoor home improvement projects. Your mortgage company already has information about the value of your home, not to mention your credit. In many cases, your mortgage company may be able to fold the additional loan into your monthly house payment as well.

4. Find out about getting a credit card from a large home improvement chain in order to finance your outdoor projects. While the interest rates may be higher than if you secured a loan from a bank or lending institution, in many cases you may be able to get discounts on the price of materials and services.

5. Avoid trendy or elaborate outdoor home improvement projects when you are trying to secure financing. A bank is less likely to approve a loan for a moat or a waterfall. Stick to traditional, classic improvements that will ultimately increase the value of your home, and not shrink the number of prospective buyers down the road.

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