White Vinyl Fence

Fence Financing: Average Cost And How To Pay

Victoria Araj7-minute read
PUBLISHED: February 22, 2024


Getting a fence often comes with a hefty price tag, but this pursuit can result in more privacy, better protection and a boost to your home’s curb appeal. But while a fence is a functional and aesthetic investment, its costs may feel out-of-bounds for some people. The good news? Numerous fence financing options are available to make installation more affordable.

Let’s take a close-up look at how much you can expect to pay for a fence and a few alternatives to paying upfront in full.

How Much Does A Fence Cost?

The average cost to install a new fence is $3,300, according to Forbes. The exact price you’ll pay for a fence will fluctuate based on a few factors. For one, the amount of fencing you need will impact your final total. Costs will also vary according to fence type, materials used, labor fees, your location and other variables.

Next, we’ll explore how costs can differ based on some of the factors mentioned above.

Average Installation Cost Per Linear Foot By Fence Type

Here’s a breakdown of the average cost per linear foot for installation of different fence types:

  • Invisible dog/electric: $2 – $7
  • Split rail: $15 – $35
  • Picket: $20 – $50
  • Privacy: $25 – $60
  • Steel palisade: $30 – $80

Average Installation Cost Per Linear Foot By Fence Material Used

Here’s a breakdown of the average cost per linear foot for installation of a fence made of various materials:

  • Barbed wire: $3 – $6
  • Chain link: $9 – $30
  • Wood: $20 – $50
  • Composite: $20 – $85
  • Aluminum: $25 – $75
  • Vinyl: $30 – $60

How much you pay will also depend on whether you already have fencing. The standard cost to replace a preexisting fence is $30 – $80 per linear foot. This includes the cost – typically $10 to $20 per linear foot – to dispose of the old fence materials.

Can You Finance A Fence?

You can absolutely finance a fence installation project. Financing a fence enables you to spread out payments, and some options come at a lower cost than others. This is good news if you don’t have the cash to pay upfront or you prefer to hold onto your money in case of an emergency. Below, we’ll break down a few funding options so you can make a more informed decision on a solution that suits your needs.

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Fence Financing Options

When you finance a fence or any item, researching your options to find the best fit for you is important. Consider the unique features of the financing methods discussed next as you decide how you’ll pay.

Home Equity Loan Or Home Equity Line Of Credit (HELOC)

Some homeowners opt to dip into their home equity to fund home improvements. This is possible using a home equity loan or home equity line of credit (HELOC), but the two options have key differences despite both being a type of second mortgage.

With a home equity loan, you receive a lump sum and repay the loan in monthly installments – usually at a fixed interest rate. This can make budgeting for your payments pretty easy since you’ll likely know exactly how much you owe each month.

On the other hand, a HELOC is a form of revolving credit. You pull money as you need it, up to a limit, over a set time called a draw period. Having access to money in this way can be helpful if unexpected expenses arise in the middle of a fence project. After the draw period, the repayment period begins. HELOC interest rates tend to vary by lender, but you’ll only pay interest on the funds you borrow.

Keep in mind: Your home serves as collateral that secures both a home equity loan and a HELOC, so you’ll be at risk of foreclosure if you default on either. Also, the amount you qualify for is typically limited to a certain percentage of your home equity. Be sure you have enough equity in your home to access an amount that covers fence installation costs.

Cash-Out Refinance

Another way to borrow from your home equity is with a cash-out refinance. Similar to home equity loans and HELOCs, your house serves as collateral. And like a home equity loan, you receive funds in a lump sum and monthly repayments begin almost immediately. While a home equity loan and a HELOC are a second mortgage, a cash-out refinance replaces your current mortgage.

With a cash-out refinance, you get a new mortgage for a higher amount than what you owe on the home and pocket the difference in cash. You’ll incur new closing costs for the new mortgage, but you might be able to roll those costs into the refinance loan and pay them over time instead of paying them at closing. Ideally, you’ll also have a lower interest rate and overall better loan terms than you had with your original loan.

Personal Loan

If you qualify for ideal loan terms, you may consider taking out a personal loan to pay for a new fence. Many lenders offer unsecured home improvement personal loans. These loans can be as high as $100,000, so you likely won’t have an issue securing the loan amount you need.

You don’t need collateral to be approved for an unsecured personal loan, but you may face strict requirements for approval. Lenders tend to look closely at factors such as credit score and debt-to-income ratio (DTI).

Upon approval, you should receive funds within a few business days. Also, home improvement loans typically have a fixed interest rate and the same monthly payments for the duration of the loan payback period. Knowing how much you’ll pay each month can make financial planning much easier.

Fencing Company Or Retailer Special Financing

Some fencing companies and retailers offer their own financing. Whether this option is available depends on who you hire to do the project. Check with your local fencers and retailers to learn about and compare their terms and rates.

Credit Card

If you consider using a credit card to pay for a fence, explore different offers to find a card with perks. First and foremost, though, make sure the card has a credit limit that’s large enough to cover the project.

You may be able to sign up for a card that offers cash-back rewards and travel points based on how much you spend. A large purchase, such as the purchase of a fence, could mean large rewards.

Some credit card companies offer an introductory 0% annual percentage rate (APR) period. This means you can pay off the card with no interest during that time. Just be sure to find out the APR you’ll be saddled with if you still owe a balance once the promotional period ends. Taking note of this can reduce your risk of paying more than you expect or going into excessive debt.

Final Thoughts

Financing your fence installation project lets you break up the cost and make payments over time rather than having to pay for everything at once. As you consider different payment options, it’s best to review each one carefully. Doing your research can help ensure you make the right choice for your fencing project.

If you’re looking for fast funding, a personal loan could be the best way to pay for your new fence. Apply online today with Rocket LoansSM to see the terms you prequalify for.

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Victoria Araj

Victoria Araj is a Section Editor for Rocket Mortgage and held roles in mortgage banking, public relations and more in her 15+ years with the company. She holds a bachelor’s degree in journalism with an emphasis in political science from Michigan State University, and a master’s degree in public administration from the University of Michigan.