With these tips, you can afford a swimming pool with the right type of financing and pool.
When we first got the idea to put a pool in our backyard, the cost was pretty intimidating. We envisioned signing away our lives (or at least our house) to cough up the money for installation. It got discouraging to think that we may never realize our backyard dream.
Then we started researching the cost of a pool and found it could be more doable than we thought. There were plenty of choices and prices varied quite a bit. We also found that some finance companies specifically offer affordable loans for pool installation. We even discovered that insurance costs for having a pool in your backyard were a less than we figured! We were able to pay for the pool we wanted and now we are so glad we took the leap into a backyard swimming pool.
A swimming pool can be an intimidating prospect for a number of reasons. First, in-ground swimming pools take time to install, and the backyard is a mess of dirt and machinery during the process. Then there is the cost. All that machinery and mess has to be paid for somehow, right?
The good news is that you don’t have to break the bank to enjoy your very own outdoor oasis. By taking these factors into consideration, you can have a pool that is both fun and affordable. Check out these tips for getting a pool for your family and your budget.
Types of Pools
The first consideration is the type of pool you are going to install. There are plenty of options and prices range from about $1500 to $50,000. Homeowners on a tight budget may opt for an above-ground pool that provides plenty of swimming action at a fraction of the cost. If money is no object, go for the works with a gunite pool equipped with all the bells and whistles. With so many choices available, it is easy to find a pool you can afford.
Types of Financing
Unless you have a few thousand dollars just lying around, you will probably need to come up with a financing plan for your swimming pool. Look for companies that specifically offer swimming pool financing. The loans are usually tied to your home equity, and many companies will process the financing based on the value of your home with the pool installed. Of course, if you don’t have equity or you don’t like the idea of using your home to foot the bill, an unsecured loan is the next best thing.
Insurance Shopping
Once your pool is installed, you will need to pay for additional homeowner’s insurance to cover the cost of the pool. It pays to shop around for the most affordable policy that provides the best coverage. Many homeowners find that their insurance rates only go up a few dollars a month if they install proper safety equipment in their pool area.
A swimming pool can be an affordable option if you take the time to shop wisely. With these tips, you can find a pool that fits your lifestyle and your budget.
