Outdoor lifestyle projects became popular during the pandemic and continue to be favored by homeowners today. However, unlike urgent requirements like roof replacements or HVAC repairs, projects such as patios, decks, and landscaping are seen as “wants” rather than “needs”.
While homeowners may love the idea, they often postpone these projects because the cost feels discretionary. Even high-income prospects may feel they need to keep cash on hand for emergencies and seasonal requirements such as graduations and vacations.
Outdoor projects can make life better
From a lifestyle perspective, however, outdoor projects can be just as important as simple repairs. They improve everyday life and reduce stress by enhancing the enjoyment of family gatherings, entertainment, or simply relaxing. These are emotional purchases, and “sticker shock” can cause homeowners to put off an opportunity to significantly improve their lives and enhance the value of their home.
This is why it is important to always present payment options upfront when discussing outdoor projects. Financing can make it unnecessary to delay outdoor improvements by changing the conversation from an immediate cash outlay to affordable monthly payments. While an $18,000 patio may seem unrealistic right now, a $185 per-month patio may seem like a reasonable investment. This example of a monthly payment is for illustrative purposes only. Actual payments, terms, and eligibility vary based on credit approval and selected loan plan.
Helping homeowners get the most from their project
It’s important to understand what the homeowners would like to achieve and provide the means by which you can help them meet or exceed their expectations. The best method is to describe and discuss various project ranges, enabling them to consider potential upgrades that can enhance resilience, aesthetic appeal, and outdoor lifestyles. This can include things like:
Choosing pavers rather than poured concrete
Adding lighting, pergolas, outdoor kitchens, or fire pits
Completing drainage and irrigation upgrades
As you present pricing for each level, you should also discuss the type of loan plans that are available and determine which most closely matches their financial needs. For example, Customers wishing to avoid interest may prefer deferred interest plans, while those seeking to borrow for a longer term may choose a plan that offers fixed monthly payments.
Technology, such as the GreenSky® mobile app, can make it easier to provide clear financing choices based on the project scope and the homeowner’s financial requirements. Prequalification lets your Customers see their potential loan approval amount with no impact to their credit1. The Payment Estimator enables borrowers to review up to three loan plans and three loan amounts.
It’s important to help Customers understand how a small monthly payment increase can bring significant benefits within reach. For example, you might say, “For a little more each month, you can upgrade to composite decking, which lasts longer and requires almost no maintenance.” Your goal is to make it easy for your Customer to achieve the project that meets both their lifestyle and financial needs.
Many homeowners do not view outdoor projects as vital, which makes them easy to postpone. This also makes them ideal for financing-driven sales. Including financing options in your sales presentation makes it possible to move forward with these important lifestyle improvement projects. Making life easier and more enjoyable is a powerful way to delight your Customers and grow your Business.
Read more insights into the Home Improvement industry on the GreenSky Knowledge Hub
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To seek prequalification, a soft credit inquiry will be performed. Soft credit inquiries do not impact the applicant's credit score. If the applicant accepts the prequalification offer and proceeds with a loan application, a hard credit inquiry will be performed.