I'm considering getting a deck built and I'm thinking about purchasing the materials myself from a big box store like Home Depot to take advantage of their 24-month interest-free financing. The total cost for deck supplies is around $15,000, and I've received a quote for the build services at about $18,000, which I'd pay for upfront to the contractor. I'm hoping to spread some costs out over the year. Have people done this before, and are there any potential downsides I should be aware of?
3 Answers
It’s a solid plan, just make sure to get multiple quotes and check references. Also, confirm that the contractor is okay with you supplying the materials before you go buying anything. Not every contractor is cool with that.
I've had a mixed experience with big box stores. Sometimes the lumber ends up being of questionable quality. In my area, good contractors often prefer to source their materials themselves to avoid any issues with quality. Just something to consider! I’ve financed some business renovations as well, and it worked out well as long as I was careful about the repayment timeline.
Just a heads up, those promotions usually mean 24-month deferred interest. So if you don’t pay off the full amount by the end of that period, you’ll be hit with all the interest accrued from the purchase date. Just make sure you can pay it off in time!
Yeah, we definitely plan to have it settled within the 24 months.
We're looking at standard Trex deck supplies, which should be good quality. We've even talked to contractors about it during the quoting process. Do you think we'll still run into issues?