Conservatories - Financing the purchase of a conservatory
Conservatories are a costly investment. If you choose to have one installed professionally, a basic conservatory will cost you about £5000. Doing it yourself with a kit will cost about £1500 less. If you are interested in having a larger conservatory, however, you can easily spend £30,000 or more.
On average, you will pay about £500 per square meter to build a basic conservatory, with the price increasing if your terrain is difficult to build on. If you want a nicer conservatory made with high quality materials, you can expect to pay £1000 per square meter. Then, of course, there is decorating the conservatory and adding items such as furniture. So, unless you have piles of money just sitting around, how do you go about financing the purchase of a conservatory?
Financing the Purchase of a Conservatory Through the Supplier
When you set out to purchase a conservatory, you might have the option of financing the purchase of a conservatory through the supplier. This is a convenient option because it saves you the legwork of finding another source of financing. In addition, it provides you with a "one stop shopping" experience.
Having your conservatory financed through the supplier can possibly be beneficial if you run into problems with the conservatory later, as the supplier may be more flexible about payment arrangements should you run into financial problems or into problems with the conservatory itself. On the other hand, interest fees can be quite high when you finance the purchase of a conservatory through the supplier.
Financing the Purchase of a Conservatory Through a Bank
Financing the purchase of a conservatory through a bank is another option. When financing the purchase of a conservatory through a bank, you will need to take out a personal loan. Sometimes, it can be more difficult to obtain financing through a bank because they tend to have stricter guidelines when determining whom they will supply with a loan. On the other hand, you are likely to get a better deal when financing the purchase of a conservatory through a bank because interest rates will probably be lower than they are through the supplier.
Financing the Purchase of a Conservatory Through a Building Society
A building society is another option for financing the purchase of a conservatory. Like a bank, a building society is a financial institution that offers financial services, including loans. Unlike a bank, a building society is owned by its members and often does not determine interest rates based on credit ratings. With over 60 building societies available in the UK, you should have no problem finding one that can provide you with a great interest rate - even if your credit is not so great.
Financing the Purchase of a Conservatory with a Credit Card
If you have a credit card with a high enough credit limit, you might also consider financing the purchase of a conservatory with a credit card. If you don't currently have a credit card, you might even consider applying for one with an introductory 0.0% APR. That way, you can finance your conservatory interest free! If you cannot get a great interest rate, however, it might be best to go with one of the other options so you do not lose quite as much money to finance charges.
No matter what method you decide to use when financing the purchase of a conservatory, be sure to be smart about your purchase. In general, it is best to purchase the highest quality conservatory you can afford than to purchase a bigger conservatory of lower quality. This way, it will be long-lasting and continue to look good for years to come. In addition, you should always get quotes from at least three companies when purchasing the conservatory. This way, you can compare quotes and find the best deal for your money.