At a Glance:
Home Makeover: Financing Edition
10 Furniture Financing Tips for Home Makeovers
Building a dream home, whether in your mind or reality, is hard work! There are so many different decisions to make, one of the most important being what type of furniture you want in your home. Oftentimes, what we dream of does not match up with our budget. Well, furniture financing is about to save the day! Imagine being able to take home the furniture you want for your home without having to pay the full amount upfront. This is what furniture financing is all about! Keep reading to learn more about furniture financing. Plus, we’ll give you some tips on how to go about financing furniture so you can make sure to take full advantage of financing without getting in over your head. Let's dive in!
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Shop FurnitureWhat is Furniture Financing?
Simply put, furniture financing is getting some sort of financial assistance or line of credit to purchase furniture. It enables customers to spread the cost of their furniture items over time instead of paying for them upfront. This is typically offered by retailers or financial institutions, and this service allows individuals to acquire desired furniture without immediate full payment, often through installment plans or loans. Financing allows customers to select items, agree upon a payment schedule, and, in some cases, pay interest on the borrowed amount.
Furniture financing aims to make high-quality furniture pieces accessible to all customers, regardless of their income, by providing flexible payment options, which cater to varying budget constraints and preferences. To finance furniture is a helpful way to take home the furniture you want in a way that is financially feasible for you.
→ Learn more: How to Buy Furniture [+ the Case Against Buying Online]
How to Finance Furniture
Cheap furniture financing may be an excellent option for you, but be sure to do your homework first! Furniture can be financed through a variety of ways, primarily via store financing or personal loans, both of which BlvdHome stores offer. Store financing at BvldHome, for instance, involves applying for credit through our store. We will then offer installment plans or store credit cards with promotional interest rates. BlvdHome can also help you set up multiple financing opportunities at one time.
Personal loans from banks or online lenders provide another option, allowing individuals to borrow a specific amount and repay it over time with fixed interest rates. Before choosing which financing option you want, compare terms, interest rates, and repayment plans to select the best option for you based on your financial situation and preferences.
→ Learn more: What is Clearance Furniture?
Home Makeover: Financing Edition
Now, let's explore some furniture financing strategies for each room of your home makeover.
Bedroom Furniture Financing
Financing bedroom furniture can be a strategic choice depending on your circumstances. You should consider financing for the following:
✓ Mattresses: Quality mattresses can be expensive but are also crucial for sleep comfort and health. Financing could help in acquiring a better mattress that will benefit you greatly in the long term.
✓ Bed Frames: High-quality bed frames can be an investment. However, financing might help get a sturdy, durable frame that will last many years longer than a cheap, lesser-made one would.
✓ Bedroom Furniture Sets: Financing can be an excellent option for entire bedroom sets or larger pieces like wardrobes or dressers. This allows you to get matching items all at one time and fill a room if that is something you need to do.
There are, however, some items that are not worth financing, including those listed below:
✗ Small Furniture: Oftentimes, it is best to try and avoid financing items that can be paid at once or are not immediately necessary. Things like vanity tables and nightstands may not require financing.
✗ Bedroom Decor: Smaller items like rugs, lamps, or decor might be more affordable and easily purchased outright rather than financing them and possibly paying interest.
Be sure to assess the longevity, quality, and personal need for each bedroom item to determine if financing is a wise choice for you. It's advisable to prioritize financing for key items that significantly impact comfort and durability.
Dining Room Furniture Financing
Items to consider for financing dining room furniture should likely include larger, more substantial pieces that could strain your immediate budget. These may include:
✓ Dining Tables and Sets: Particularly if you're eyeing a high-quality dining room set or a table with additional features like extendable tables, financing may be your best option.
✓ Seating: Especially if you're looking at a set that's durable, stylish, or part of a cohesive dining set, financing dining room seating so you can purchase matching pieces all at once is helpful.
✓ Lighting Fixtures: Statement chandeliers or lighting that enhances the dining ambiance are worth financing for the high value they bring to tying a room together.
However, some items might not necessarily need financing:
✗ Small Decorative Pieces: Items like centerpieces, placemats, or decorative elements can often be purchased within budget and are not worth financing.
✗ Accessories: Small items like vases, candles, or tableware that aren't substantial in cost are better to purchase outright, especially since they are typically far more affordable than larger furniture pieces.
Ultimately, it depends on your budget, preferences, and the specific dining room furniture you're considering. Financing larger, more substantial pieces might make sense if it allows you to acquire higher quality or more durable items that align with your long-term needs.
Living Room Furniture Financing
If you are putting together your den, there are certainly some living room furniture items that are worth financing. See below for our suggestions:
✓ Sofas and Sectionals: Larger, more expensive items, like sofas or sectionals can benefit from spreading payments through financing as they often are needed in a room, but can cost quite a bit. They are worth financing as they are a key item in a living room and often last quite a long time.
Furniture that should not necessarily be financed are smaller, less significant pieces like the following:
✗ Small Furniture: Smaller, more affordable items like these can often be bought outright. Side tables, lamps, or rugs are generally less expensive and can fit within renovation budgets.
✗ Decorative Accessories: Items like mirrors, wall art, or decor pieces usually don’t need financing due to their lower cost, and are best to be purchased upfront.
The decision to finance living room furniture depends on your budget and your personal preferences. You might also consider the significance of the item within the living room space. Items that are larger, more central to the room, or represent a significant investment in style or quality are the better options for financing.
→ Learn more: How Much Does it Cost to Furnish a House?
10 Furniture Financing Tips for Home Makeovers
Finding the perfect furniture for your home makeover is an exciting endeavor, but getting a good price can sometimes be a hurdle. Fortunately, there are smart strategies and tips to make furniture financing a breeze. In this section, we'll explore ten invaluable tips to help you navigate the world of furniture financing as you makeover your home.
- Set a Budget: Determine how much you're willing to spend on furniture and stick to it. A budget will help you avoid overspending.
- Check Your Credit: Review your credit score and history to understand your financing options. A good credit score may qualify you for better interest rates.
- Explore Store Financing: Many furniture stores, BlvdHome included, offer financing plans with low or no-interest options for qualified buyers. Inquire about these deals.
- Compare Interest Rates: If considering store financing, compare interest rates with other credit options like personal loans or credit cards to find the most favorable terms.
- Understand Terms and Fees: Read the fine print of any financing agreement. Be aware of hidden fees, penalties, and the duration of the financing plan.
- Save for a Down Payment: Whenever possible, provide a down payment to reduce the principal amount you need to finance, potentially lowering interest costs.
- Avoid Overspending: Only finance what you need and can comfortably afford. Resist the temptation to overspend or buy unnecessary items.
- Pay on Time: Ensure timely payments to avoid penalties and negative impacts on your credit score.
- Pay More Than the Minimum When Possible: If you do opt for financing, pay more than the minimum monthly payment to reduce the overall interest you'll pay and shorten the loan term.
- Plan for Emergencies: Have a contingency plan in case of unexpected financial challenges to prevent defaults on your furniture payments.
By following these tips, you can make informed decisions when financing your furniture, ensuring both your home and your finances are in excellent shape for your home makeover.
FAQ: Furniture Financing
Which furniture stores offer financing?
There are many furniture stores with financing opportunities to purchase their inventory. For instance, BlvdHome offers excellent furniture financing for our customers.
Does financing furniture build credit?
Yes, financing furniture can contribute to building your credit if the payments are made consistently and on time. Most furniture financing options involve credit agreements, and these agreements are reported to credit bureaus. When you make timely payments on the financed furniture, it showcases responsible credit behavior and contributes positively to your credit history. However, it's important to remember that missed or late payments can have adverse effects on your credit score. Consistent, on-time payments are crucial to building a positive credit history through furniture financing.
Where to finance furniture?
For many furniture stores, financing is something they are happy to provide. Most furniture retailers offer this option, as well as banks and financing institutions, online lenders, and various credit cards as well. At BlvdHome, we have incredible financing opportunities and will help you every step of the way. Contact us to learn more.
Why Trust BlvdHome?
The roots of this family business began as early as the pioneer settlement of Southern Utah. One descendant of those 1861 pioneers was Lester Wittwer. In 1928, he started a trucking business with other family members, delivering homegrown fruits and vegetables to many outlying areas. The story of BlvdHome began in 1974 when Lester’s son Tony decided to venture off into the furniture world - with two full-time employees and a small showroom of only 8,000 square feet. Today, BlvdHome has 5 retail locations with over 160,000 sq. ft. of showroom space, located in St. George, Utah, Hurricane, Utah, Cedar City, Utah, Mesquite, Nevada, and a new Las Vegas location. With over 230 amazing team members, BlvdHome continues to deliver on a commitment to customer service that started over 90 years ago.
Shop Furniture at BlvdHome
At BlvdHome, we provide quality name-brand appliances, furniture, and mattresses for great prices. Shop furniture online or visit us today at one of our locations in Utah or Nevada. In the meantime, browse our website to shop BlvdHome Bargain Barn and check out our flooring selections to increase your home value. More available than ever, our experts at BlvdHome are always happy to help you better understand furniture financing, whether you call us or use our online chat feature. Contact us today!
→ Learn more: Best Furniture Stores in St George, Utah: BlvdHome