According to Forbes, the average cost of an in-ground pool ranges from $50 to $125 per square foot. It’s absolutely an investment that can pay off when everything is ready to be enjoyed. But if cost is what has you hesitating to move forward with your backyard pool plans, there are some ways to afford a pool while still getting results you ultimately appreciate.
Before automatically assuming you can’t afford a pool, schedule an initial meeting with a pool builder to get a better idea of the costs involved. This is when you’ll be able to discuss your ideas and preferences while getting expert input. Skilled pool companies and builders also know how to offer cost-effective recommendations as details are finalized. The initial consultation process often includes an estimate that’s in line with the final costs, and you’re typically under no obligation to go any further if you’re simply getting an estimate.
Once you have a better idea of what your preferred home pool will likely cost, learn more about financing options that could work for you. Pool builders typically offer financing options for customers. Additional options with pool financing include:
• A home equity loan—also referred to as a second mortgage
• Cash-out refinancing
• A home equity line of credit
If you have concerns about financing, another possibility is your 401(k). Typically, it’s possible to borrow against this type of retirement account when you need help with more significant expenses. In this instance, you’re essentially paying yourself back with monthly or quarterly payments.
A pool for your home can also be more affordable if you pay for what you can reasonably afford with cash or similar assets and use credit to cover the rest. You might prefer this option if you want to keep your reliance on credit and/or financing to a minimum.
It’s often the “extras” that end up making a pool out of reach for some budget-conscious homeowners. While things like bubblers, pool fountains, and a gorgeous pool deck can certainly be appreciated, you can always add things of this nature later at a more gradual pace. Instead, keep costs in check by focusing on the actual pool first.
Don’t get so caught up in the size of your pool or the idea that its shape has to be one of the traditional options. You might end up not being able to afford it. Make your pool more affordable by exploring other options with size and shape. For example, a smaller pool can still be a very much appreciated addition to your backyard. The same thing is true with a more creatively shaped pool that cuts down on the preparation costs for getting the installation area ready.
If you’re building a pool and you want to get the best value for your money, reach out to the experienced pros at San Diego Pools. As a premier family-owned San Diego pool builder, we’ve been transforming customer dreams into reality with creative designs and high-quality custom construction for more than forty years. Give us a call today at 888-707-7786 to learn how we can build the pool that’s perfect for you.