Options and costs for financing landscaping projects

Landscaping enhances your outdoor living space, boosts curb appeal and increases your home’s value. But landscaping doesn’t come cheap and could cost thousands of dollars depending on your vision for the finished product. Consider home equity financing, personal loans, credit cards or contractor financing to help pay for this important project.

How much does landscaping cost?

Landscaping typically costs between $1,800 and $7,000, according to HomeStars, an online home professional service finder. For softscaping (flowers and plants) alone, you could pay around $14 per square foot. Ultimately, the cost depends on the scope of the project and the size of your yard.

For example, if you’re just looking to add new flowers or shrubs around your house and yard, your project might only set you back a couple hundred dollars. However, if you’re facing a major remodel, expect to be on the higher end of the scale.

Or, if you plan to include hardscaping in your project—walkways, pools, decks, patios or other non-plant-related features—be prepared for significantly higher costs. HomeStars estimates this could be up to 5% or 10% of your home’s overall value.

Calculate your costs for landscaping loans

Your loan’s total cost depends on the loan type, lender, interest rate and loan term. Those elements vary based on your credit score, income and other factors. Use our landscape financing calculator to compare monthly payments based on different rates and loan terms.

Landscaping financing options

You could save up for your landscaping project and pay in cash, especially if it’s a smaller job. But if you want to hire professionals or truly design the lawn and garden of your dreams, consider these landscape financing options.

Personal loans

A personal loan is normally unsecured, meaning you won’t need collateral to secure the loan. Funding for personal loans is usually fast, and interest rates typically range from 6.99% to 46.96%, with the best rates reserved for borrowers with good credit. Loan amounts can start as low as $500 and can go up to $50,000. You’ll pay it back in equal monthly installments over 3 – 60 months. Fast funding and predictable monthly payments make personal loans a good option for home improvement loans.

Related: Explore the best personal loans

HELOC or home equity loan

An excellent way to leverage your home’s equity is to use those funds to beautify your outdoor space, although you may need at least 20% equity to qualify. One way is with a lump sum home equity loan. Home equity loans come with fixed rates, and you’ll repay the loan in equal payments like a personal loan. This option might make sense if you know exactly how much the project costs.

Another option is a home equity line of credit (HELOC). A HELOC is a revolving line of credit where you can borrow as much—or as little—as you need up to your approved credit limit. And you’ll only pay interest on what you borrow. A HELOC is a good idea if you’re doing the project yourself or in stages and you’re not sure how much it will cost.

Credit cards

Paying for your landscaping project with a credit card isn’t a bad idea for smaller projects, especially if you think you can pay it off quickly. Plus, credit cards are usually easier to qualify for. For larger projects, you may want to apply for a low interest rate credit card.

Contractor or vendor financing

Some landscaping contractors offer financing through an in-house program or a third-party lender. If you opt for a contractor that handles landscaping financing, you’ll usually get an offer after they’ve come up with an estimate for the project. This saves you the time and hassle of seeking outside financing, and you may even get a promotional offer. But choose contractor financing only if it’s less expensive than other landscaping loans.

If you plan to do most of the landscaping project yourself—or just hire help for the heavy lifting—consider promotional financing deals from the store where you get your materials. Places like Home Depot, Rona or other big box stores may have the plants and supplies you need plus 0% or low interest financing offers for several months or longer.

How to get a loan for landscaping

Qualifying for deck or patio financing depends on the loan type, your credit score and other factors, but here are some basic guidelines to get started.

1. Determine your budget and the scope of the project. It’s helpful to know the scale of the project and how much you want to spend before meeting with contractors.
2. Get multiple estimates. Labour costs vary, and some contractors may get better deals on plant supplies and materials, so get at least two or three estimates.
3. Check your credit score. Knowing your credit score will help you determine which financing option makes the most sense for you.
4. Get prequalified. If possible, prequalify for a few different loans, so you can find the best deal.
5. Read the contract. Some lenders charge application, origination or other fees. Be sure you’re aware of the loan’s total cost and terms.

Bottom line

Landscaping your yard brings you years of pleasure, boosts your curb appeal and adds value to your home, but it can be an expensive undertaking. Consider home equity financing, personal loans or contractor financing to help you fund this valuable home improvement project.

Frequently asked questions

• Are there landscaping loans for bad credit?

  It can be more difficult to qualify for landscape financing if your credit score isn't great. However, some lenders consider borrowers with bad credit, but you'll probably pay a high rate. You may want to consider a secured loan instead, which could get you a better rate.

• Do landscaping companies offer financing?

  Some landscaping contractors offer landscape financing, and you might even get a better deal than you would with other lending sources. Be sure to get estimates from smaller operations that don't offer financing. That way, you can compare contractor financing with other landscape financing options to find the best deal.

• Should I use my home's equity to finance my landscaping?

  Tapping into your home's equity to improve your house can be a smart move if it increases your home's value.

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