Kitchen Financing for Contractors
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Open Up Countless Kitchen Renovation Possibilities with Financing
Kitchen renovations rival bathroom remodeling as the most popular American home improvement. Many things contribute to the success of your kitchen remodeling business – the skill and quality of your work, your knowledge of the latest kitchen trends – but having great financing is crucial to selling your services, too. Setting up contact with a home improvement financing company offers some big advantages compared to just leaving your clients on their own.
Close More Sales
Eliminate paying fees to banks and finance companies
Seamless Funding
Close more sales by focusing on low monthly payments
Sell More
No more compromising on price – upsell the project your customer really wants.
The Benefits of Modern Kitchen Contractor Loans
The number of people hankering for kitchen renovations is far bigger than the number who can afford one. Offering projects in the form of a low monthly payment via attractive APRs of 8.99% and loans that spread payments out over a period of up to 15 years gives you a huge advantage in winning new customers.
Financing is Needed for Even Minor Do-Overs
Kitchen remodeling is one of the pricier home improvements, with the average cost of overhauling this room ranging from $20,000 to well over $100,000. A modest upgrade involving refacing cabinets rather than tearing them out, painting the walls, replacing the sink and faucet with a new setup, and laying down new flooring and countertops averages about $21,000. Adding in partially customized cabinetry, an island, higher quality sink and appliances, and custom lighting can easily raise that cost to $62,000. Granite countertops, custom cabinets, designer fixtures and lighting, can push costs even higher. Due to the high expense, readily-available financing lets customers access the home they always dreamed of, instead of making compromises.
Partial Remodeling is Still Profitable
Even if a client only wants certain parts of their kitchen renovated, the cost is still high enough to easily justify financing. Refinishing cabinets, for example, can cost between $1,500 and $4,000, while refacing them makes that jump $4,000 to $10,000. Similarly, replacing appliances alone can cost anywhere from $3,000 for store-bought pieces to $12,000 and up if the client wants quality appliances built-in as a custom feature. Any job over $3,500 can be readily financed to easily seal the deal.
Opening Up Countertop Possibilities
Supported by a convenient, cooperative, turnkey financing source, you and your clients can choose from a full range of options for kitchen countertops. Backed by a quality loan source, customers can focus on the pros and cons of various countertop materials without worrying as much about price. Bamboo is eco-friendly and gives a homey, warm appearance, but can be easily scratched or cut. Granite, the classic choice, is tough and attractive, though its edges can chip. Recycled glass looks very distinctive and withstands heat or scratches, but can stain or chip. Backed by financing, you and your clients are free to work out the best material for their needs and aesthetic sense.
Kitchen Renovation Contractor FAQ
How Does Custom Cabinetry Affect Remodeling Price?
Custom cabinets offer massive benefits in both convenience and unique appearance to homeowners, but are some of the most complex and expensive parts of a kitchen renovation, with costs varying depending on materials used. Custom design, millwork, fitting, and finishing are high- skill, time-consuming facets of a cabinetry upgrade. The preferred material – some type of high quality laminate or plywood – costs $500 to $1,200 per linear foot. Steel or steel-and-glass cabinets cost $1,000 to $1,600 per linear foot with the average American kitchen containing 25 linear feet of cabinets.
Good turnkey financing helps to cover the expense of custom cabinetry, even in larger than average kitchens.
What are Typical Demolition Costs?
Complete demolition can add anywhere from $350 to $1,500 to the price of a kitchen renovation, depending on your labor and disposal costs. The most difficult and costly removals are cabinets, flooring and appliances, assuming that large appliances such as refrigerators are involved.
Quality financing, with flexible amounts and good terms available, ensures that it isn’t necessary to skimp elsewhere due to the costs of demolition before the main project starts.
What are the Prices of New Kitchen Flooring?
The price of new kitchen flooring is dependent on the various materials used in the process.
Waterproof materials are recommended for kitchen floors given their use for cooking. Older houses may require the removal of improperly waterproofed subflooring, too.
Linoleum and vinyl floors are among the least costly at $3 to $5 per square foot, while ceramic pushes the price up to $8 to $13 per square foot, slate $9 to $17, and marble or travertine $12 to $21. Sealed and waterproofed wood floors are at the high end, with bamboo the cheapest, laminate a mid-price choice, and hardwood equaling stone flooring in cost.
