You want a swimming pool. Your family looks for vacation spots that have a swimming pool. Can you afford a swimming pool? This is a question that needs to be asked and answered and the swimming pool contractors from Tipton Pools in Knoxville, TN can help you with the dollars and cents of swimming pool ownership.
Many new swimming pool owners consider the cost of the swimming pool project, but they may not factor in the cost of ongoing maintenance and upkeep, or the increases in utility bills once the pool has been constructed. These are factors that need to be budgeted for.
Can you afford a swimming pool?
When you consider the cost of a vacation and the idea that it could cost you more than $100 per family member for even a day at a water park or a theme park, you can see that owning your own swimming pool might be more cost effective — in the long run.
Your family swimming pool is an investment in fun and in your family’s future memory-making. Prior to becoming a swimming pool owner, you will want to put together a budget for the pool project, payment of any loan you need to take out and for ongoing maintenance and utility bill increases. Don’t forget to check with your homeowner’s insurance agent to see if there might even be an increase in your insurance premium that you need to budget for.
- Talk with pool owners you know and ask what they paid for their pool and what their utility bills increased by.
- Add a cushion to the construction price of about 15% to pay for any cost overruns. If you have an unexpected expense, it’s better to know now than to scramble later.
- If you have to take out a loan, make sure you can afford that in the long run. Talk with your potential pool builder about options for financing.
Do your homework. Have your budget in mind and talk with a pool contractor. Tell him what you can afford for the cost of the pool and for monthly payments. Ask what maintenance contracts cost. Ask him for an estimate on increases in your utility bills might be. You will also want to budget for the swimming pool fence and other safety equipment and for an outdoor living space and deck. You will probably spend more time around the pool than in the pool and you want to have a comfortable place in which to relax poolside.
If you have your heart set on a particular construction material, but don’t have the budget for the pool of your dreams, be prepared to either scale back or wait another year or two until you can better afford it.