Summer is just around the corner, which might have you thinking about finally getting that pool you’ve always wanted in your backyard. But you might not realize how many different types are available nor the costs associated with each one. For some consumers, financing a swimming pool might require exploring options for swimming pool loans to help pay for the job. If you’re considering having a pool installed in-ground, there are some things to keep in mind with regard to costs.
Swimming Pool Costs
For an in-ground pool, there are three ways you could go: Fiberglass, concrete, and vinyl. Each option provides specific benefits and comes with various costs for the delivery and installation of the pool.
Fiberglass is the most popular of the 3 options. It arrives at your home as a one-piece shell that is placed in the ground. Most consumers go with this style because it’s easy to maintain and requires fewer chemicals to manufacture. Going with a fiberglass pool could cost as much $60,000 on the high end if you decide you want a myriad of additional features but, in most cases, the average cost could run anywhere from $20,000 to $35,000.
Concrete pools can run about the same as the fiberglass option. This type of pool is formed by pouring concrete into the prepared area that has been dug out of the ground. The average cost here is about $20,000 to $30,000.
Vinyl is the least expensive of your options and is not intended to be a permanent fixture in the home. It will need to be replaced every four or five years. Due to their temporary nature, these pools can cost approximately $10,000 to $25,000.
When you’re talking about these kinds of numbers, some consumers turn to swimming pool financing as a way to make their dreams of owning an in-ground pool come true.
Financing a Swimming Pool
No two consumers are alike and neither are their financial needs for putting in a new pool. Seeking out swimming pool financing is often the best way to get the money you need for this type of home improvement project which can significantly increase the value of your home. Turning to a reliable swimming pool loan company can help you pay for that pool over a number of affordable installments instead of coming up with the full amount all at once. It’s a smart way to have a pool installed without taking on the burden of a high price tag and with some pools costing as much as $60,000, swimming pool loans can be a viable solution.
Swimming Pool Loans
Once you identify the company or contractor you would like to install a new pool or renovate an existing one (something you may need to consider with a concrete option), you can arrive at the actual cost. Getting a loan for your swimming pool may be the best answer for covering that cost because interest rates on swimming pool loans have not increased and there are a number of term lengths available to fit your budget. Some loan terms can last as long as seven years and most applications are simple and quick to fill out, requiring basic background, income, and credit information. Many consumers will take out a loan amount that is enough to pay for the entire job including delivery and installation while others apply for a portion of the funds necessary. Swimming pool loans are a unique form of financing and do not come with a penalty for early repayment.