How can I pay for my patio cover installation?

Screen Room

Outdoor living spaces set the stage for endless family fun, friendly conversations, and neighborhood get-togethers. Patio covers, pergolas, screen rooms, and sunrooms provide a welcome escape from the pressures of work and school and a wholesome, setting for partaking in nature’s pleasures. They extend the outdoor season to deliver hours of memories that money just can’t buy.

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Paying for Your New Patio

While you can’t put a price tag on those memories, you can accurately determine how much the materials and labor will cost to build your new outdoor oasis. Renaissance Patio constructs its covered patio components from the finest extruded aluminum available to create the perfect blend of affordability, durability, and beauty. A high strength-to-weight ratio makes our structures easier to install by smaller crews in less time, keeping labor costs low. Still, like any home improvement project, finding a way to cover that cost can be troubling for some families. Here are ways to manage the cost of giving your family a space they will treasure for years to come. 


Discretionary income often offers the best and easiest way to build your backyard living space. If you don’t have the money in your savings account, putting a bit aside from each paycheck will have you in a position to start building in several months. A pergola or patio roof likely will cost less than a family vacation to Disney World and will keep on giving long after the roller coaster rides have ended. Paying cash for your patio saves interest costs but deprives you of instant gratitude. If you can be disciplined, stick to a budget, or cannot or would rather not take on debt, cash is a perfectly acceptable option.

Home Equity

If you have lived in your home for a while, it is probably worth more than you owe on your mortgage, ask your lender about accessing some of that value. Home equity lines of credit (HELOC) were designed specifically for home improvements (they have evolved, however, for use in debt consolidation and other uses) and usually carry lower interest rates than traditional personal loans. Unlike regular loans, you can keep going back to the well, as the credit line revolves. For instance, say you take out a $10,000 HELOC. You spend $8,000 on outdoor living space and use $2,000 to pay off a credit card. You make monthly $400 payments when eight months later your car’s transmission goes belly-up. You can use the $3,200 (minus interest) you paid back to cover the repair.

Personal Loan

Used for similar purposes, personal loans are unsecured. That’s good because unlike HELOCs you don’t have to use your home as collateral. It’s bad because banks and credit unions charge higher interest rates to compensate. A strong credit rating can mitigate these extra costs, however, and credit unions, especially, may waive loan origination and closing fees. Lenders are often willing to commit tens of thousands of dollars, perfect if you’re considering a three-season screen room or four-season sunroom. After approval, the funds are deposited directly into your account, making them immediately available for your patio project.

Credit Cards

You may be able to take advantage of the low-interest introductory credit card offers to obtain your backyard shade structure without waiting for your savings to accrue. Of course, credit cards should only be used for relatively small, short-term financing. Pay as much as you can during the introductory period to cut the debt as low as possible once the regular rate kicks in. You will want to pay off the debt quickly as possible to avoid racking up huge compound interest charges.

Classico Freestanding Insulated Aluminum Patio Cover
Built by Happy House

Return on Investment

A new patio cover, screen room, or sunroom offers decades of enjoyment for your family and friends, but it also pays off when you sell your home. By adding value to your property, a shade increases its resale value, allowing you to recoup much of what you originally paid to have it built. In fact, in warm climates where outdoor spaces get the most use, your patio could fetch as much as 60 percent or more of its installation cost upon resale. Sunrooms and screen rooms, which mitigate the effects of the local climate, show even higher ROI – up to a whopping 75 percent, in addition to the value covered patio accessories like lighting and outdoor kitchen add to your property’s resale price.

With all the financing options available and the ability to regain much of the cost, it is no wonder more and more homeowners are investing in Renaissance Patio products. You could be next. Contact us for a free consultation.