9 Ways to Afford Your Next Concrete Makeover

Enhancing your property with a new concrete driveway, patio, or slab can be a significant investment, and in this economy everyone needs all the help they can get! Without further ado, here are 9 ways to afford your next concrete project, and links to credible sources for you to get started conducting your own research:

1. Government Assistance Programs

Leading the charge for concrete financing are, of course, government loans and grants. These financial tools are often a cheap and relatively easy way to secure the necessary funds for your concrete project … as long as you qualify and are willing to accept the terms of the loan or grant. Of course, it’s important to weigh the pros and cons. While government loans typically have lower interest rates and more flexible payment options, there may be a lot of red tape to get through before your financing can be approved. Personally, we’re more likely to take our chances on applying for grants because well… who doesn’t like free money?! 

Do you think government loans/grants are right for you? Here are a few options that are worth taking time to consider…

• HUD Home Improvement Loans: The U.S. Department of Housing and Urban Development offers programs like the Title I Property Improvement Loan Program, which can be used for home repairs and improvements.

• USDA Single Family Housing Repair Loans & Grants: For homeowners in rural areas, the USDA provides loans up to $40,000 and grants up to $10,000 for home repairs and improvements.

• South Carolina Housing Trust Fund: Residents of South Carolina can explore programs that offer financial assistance for home repairs and improvements.

2. Crowdfunding Platforms

With the rise of the internet and social media, too came the rise of Crowdfunding platforms. These platforms allow anyone with a compelling story to plead for financial assistance from the public – necessary or not. So tell your story and shoot your shot for a concrete makeover with these helpful platforms:

• GoFundMe: A popular platform that allows individuals to raise funds for personal projects, including home improvements.

• Kickstarter: While traditionally used for creative projects, some have successfully funded unique home improvement endeavors here.

3. Bartering Services

Taking it back to our roots! Contrary to popular belief, bartering is NOT dead… as long as you have (or can do) something that you’re willing to trade and someone else needs, or wants, it. While bartering is typically considered a relatively inefficient means of getting goods and services, here are a few interweb empowered resources to consider for enhancing your bartering experience…

• Barter Exchange Networks: Platforms like the Bartering Exchange Network facilitate the exchange of services, which can be useful if you have skills to offer in return for construction work.

• TradeMade: An app-based platform that allows users to trade goods and services, potentially enabling you to barter for home improvement needs.

4. DIY Resources

Concrete is hard, but sometimes you’ve got to tighten your bootstraps and get the work done anyway! If you have the skills, patience, are willing to accept some risk, and can handle a bit of hard labor… then DIY might just be the best bang for your concrete budget. If that sounds like you, here are a few places you should look for financial assistance and general guidance.

• Home Improvement Grants: Some programs offer grants that can assist with funding DIY projects, reducing overall costs.

• Online Tutorials: Platforms like YouTube and DIY Network provide step-by-step guides for various home improvement projects.

5. Selling Unused Items

Okay… so DIY isn’t your thing. While you’re waiting on a response from your government applications, watching the Crowdfunding donations roll in, and/or waiting on the perfect bartering opportunity… you could always sell your stuff! Aside from your neighborhood yard sale, here are a few other ways to get the most value out of your junk!

• Offloadit: An online marketplace to sell surplus building materials and other items, helping you generate funds for your project.

• Local Classifieds: Websites like Craigslist or Facebook Marketplace are effective platforms for selling unused household items.

6. Credit Card Rewards or Financing

Alright, so you’re not into using credit cards or crowdfunding, and selling your stuff isn’t an option. While you’re waiting for your government grant approval or keeping an eye out for a sweet bartering deal, don’t forget about good old-fashioned financing. Whether it’s working directly with your contractor or leveraging traditional bank options, here are a couple of reliable ways to secure funds for your project!

• Credit Card Comparison Tools: Websites like NerdWallet or Credit Karma allow you to compare credit cards with promotional financing offers.

• Financial Advice Articles: Resources from Investopedia provide insights on using credit card rewards effectively.

• Contractor Financing: Many concrete contractors offer in-house financing options (often through third-party services). These plans often come with competitive interest rates and flexible terms tailored for home improvement projects. Be sure to compare these with other financing options to ensure the best fit for you. 

• Bank Loans and Credit Lines: Traditional financing options like personal loans or home improvement lines of credit from your bank can provide structured repayment terms. Home equity lines of credit (HELOCs) are another popular choice, offering lower interest rates since they’re secured by your property.

7. Partnering with Neighbors

This whole idea hinges on one thing: a good relationship with your neighbors! If you don’t have good repor with your neighbors, then you may just want to keep scrolling. On the flipside, however, if you are willing to combine projects with your neighbor, then you could everyone save anywhere from a few hundred to a few thousand dollars each! Here are a few ways you could reach out to your neighbors …

• Community Bulletin Boards: Local community centers or online neighborhood groups can be platforms to find neighbors interested in joint projects. (We highly recomment staying AWAY from going door-to-door for saftey and privacy reasons.)

• Nextdoor App: A neighborhood-focused social network where you can connect with locals for potential group projects.

Find Virtue Concrete on the Nextdoor App

8. Seasonal Discounts

If you’ve got some cash saved up, but you’re just trying to get the best bargain for your money then here are a few tips that can help you wrap up this project with a few bucks left in the ol’ savings account! 

• Concrete Contractors: Many contractors advertise seasonal promotions on their official websites, and are more flexible in price negotiations for projects scheduled during the slow seasons. For example, if you’d like to negotiate price in the summertime, when demand is high for concrete contractors, then it may be wise to request a fall/winter construction schedule.

• Home Improvement Retailers: By taking advantage of seasonal sales, discounts, and clearance at home improvement stores like Home Depot and Lowe’s you may be able to find deals on materials to save yourself some money. We highly recommend considering this option for accent and aesthetic materials such as river rock, gravel, drainage systems, etc.

9. Tax Refund Allocation

Another common way that homeowners come up with the funds for their concrete projects are income tax returns! 

• IRS Resources: The IRS website provides information on expected refund timelines, helping you plan your project funding.

• Financial Planning Blogs: Articles from financial advisors offer strategies on effectively using tax refunds for home improvements.

 

By exploring and combining these resources, you are sure to come up with a winning strategy for your concrete financing!