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Thursday, 21 November 2019
Agent Resource Center
Agent Resource Center

Average Inground Swimming Pool Costs and How to Save Money

Written by Posted On Sunday, 22 September 2019 23:18

Wondering how much it costs to install and maintain an inground pool? Here's everything you need to know about swimming pool costs and how to save money.

In-ground swimming pools aren't popular fixtures in US homes. As a matter of fact, in even the most pool-populated cities, you'll find that only 11 out of every 100,000 residents owns a pool.

The rarity of pools is one of the primary reasons why, in certain markets, pools can drive a house's value up.

Whether it's value or fun that has you contemplating your pool purchase, you're going to want to get a handle on swimming pool costs before you hire a contractor and have them begin their build.

Below, we share what the average cost of a swimming pool is, what miscellaneous expenses are associated with pools and how you can save money as a pool owner.

 

How Much Does The Average Pool Cost?

The cost of swimming pools can vary widely based on where a pool is being installed and the sophistication of a pool. In low cost of living markets that feature warm temperatures, you can expect your pool costs to be lower. In markets where pools are rare and the cost of living is high, you'll pay much more.

The range of what you can expect to pay, considering those factors, is anywhere between $28,000 and $55,000. You could fall outside of that range if you go with a pool that's more modest or grandiose than what's typically installed.

 

Are There Other Costs Associated With Pool Ownership?

A lot of people weighing swimming pool costs look at a pool's base price, determine that they can afford it and proceed with their builds. Later on, many of those people find that the miscellaneous expenses involved with pool ownership can steeply raise a pool's cost and potentially render it unaffordable.

Here are four miscellaneous pool costs to keep on your radar so you're not caught by surprise:

Maintenance

Pools need to get cleaned regularly. They also need to have their filters changed, bulbs replaced and their water cycled.

All of those tasks can add up to something big over time.

Interest

If you're not paying for your pool all-cash, you'll need to secure financing to cover your expenses. Depending on your interest rate, financing could make your pool significantly more expensive over the life of your loan.

Insurance

Pools present a large liability to homeowners. As many as 10 people die every day from drowning. Many of those deaths occur in home swimming pools.

To mitigate that risk, your home insurance provider will almost certainly increase your rates when you add a pool to your yard.

Utilities

Owning a pool will increase your water and your electricity bills. If utility rates are high in your county, that could mean a significant uptick in your annual expenditures.

 

How Can You Save Money on a Pool?

If our swimming pool costs discussion has you second-guessing your in-ground pool aspirations, don't give up just yet. There are a few ways that you can reduce the cost of your build which may put a pool back within your reach.

Here are some simple savings suggestions:

 

Pay for Your Pool All-Cash

It may seem expensive to pay for your pool all at once. The truth is though, you'll save thousands of dollars paying for a pool in one go versus paying for it over time.

A $50,000 pool financed at a 12% interest rate over 6 years will end up running you over $70,000.

 

Reduce Your Pool's Size

We know that you'd like your pool to be as large as the one at your favorite hotel. Let's be honest though, does your family really need all of that space?

The smaller your pool, the less money you're going to spend on it.

 

Ditch Special Features

When you do a deal with a pool contractor, they're going to try to throw in all sorts of bells and whistles. Common add-ons might include a tiled deck, color-changing lights, saltwater and more.

Do yourself a favor and say no to all of that.

Buy a basic pool to start out and as you assess how much your family uses it, make additions as needed.

Maintain Your Pool by Yourself

Hiring somebody to do your pool maintenance can save you a ton of time which might be worth a lot to you. If you're tight on cash though, you could hop online, read these maintenance tips and manage a pool by yourself.

Just be aware the not treating your water correctly could lead to skin conditions and other fungi-related illnesses.

 

Ditch the Deep End

The vast majority of built-in pools have a shallow side that gradually slopes towards a deep end. If you ditch the deep end by building your pool without a slope, you could reduce your building expenses and decrease the risk of people drowning.

That decreased risk might even lower the cost of your homeowner's insurance.

With Your Swimming Pool Costs Accounted for, Decide If Building One Is Right for You

Swimming pool costs are going to be among the primary reasons why you choose to proceed with a build or forgo it. Now that you're aware of how much the average pool costs and the expenses associated with owning one, our advice is to talk to a local contractor.

A contractor can give you a quote on how much the pool you're looking to build costs and from there you can determine whether or not proceeding makes sense from a value perspective.

Do you still have questions about pools or your property? If you do, browse more of the content in our digital publication to fulfill your need to know!

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