If you are in the market for a new home, you may wish to consider consolidating your existing pool loan with the mortgage on your new home. You may save money if you combine your new mortgage with a pool loan. You may still qualify for certain pool financing options even if you are not in the market to purchase a home. Continue reading to learn more about pool financing options. Use our pool loan calculator to calculate various pool payment plans scenarios.
New sources of funding for swimming facilities
A brand-new swimming pool may cost tens or even hundreds of thousands of dollars. Consequently, it may be prudent to begin contemplating your pool endeavour by researching the numerous financing options available for pools. There are already tens of thousands of householders who have utilised pool financing to pay for the renovation of their backyards.
Your calculator for determining the cost of the pool
Utilise our cost-free pool financing calculator to evaluate the numerous cost-benefit relationships associated with buying a new pool.
This pool financing calculator is provided as a free estimation instrument only. If you do this, you will not be pre-qualified for any loan programmes, nor will you be guaranteed eligibility for a pool financing programme. Both of these events will not occur. The calculator for pool financing is limited to basic calculations and uses a fictitious interest rate. The plan you choose will determine your annual percentage rate of interest (APR). Pool loan calculator does not provide advice regarding legal, tax, accounting, or financial matters. This estimate of your prospective weekly, fortnightly, or monthly repayments is intended solely as a budgeting tool, and the actual amount may vary.
What You Should Consider Before Purchasing a Pool
When deciding on a pool design, there are a number of factors to take into account, including the aesthetics of your backyard and your budget. You have the option of using chlorine or installing a saltwater swimming pool. As the construction of built-in pools can easily reach into the tens of thousands of dollars, above-ground pools are typically the most cost-effective option. If you desire a custom-built vehicle, be prepared to spend six figures.
How Much Does Pool Maintenance Typically Cost?
After you have determined your financing options, consider the cost of pool maintenance. This may vary based on a variety of factors, but maintenance fees are required unless you want a repulsive pool that turns green over time.
The following are some of the ongoing expenses associated with having a swimming pool:
Maintenance: Pools require routine maintenance, which may include seasonal “openings” and “closings” based on the location of the pool. Some tasks require the assistance of a professional, such as disassembling and reassembling a pool heater. If you want to reduce your upfront costs, for instance, you could use vinyl lining instead of fibreglass, but this will likely require more maintenance. In contrast, the total cost of replastering a concrete pool is approximately $10,000, while replacing the liner of a vinyl pool costs less than $5,000.
Utilities: Swimming pools require a considerable quantity of water, which should not be surprising. If you fill and maintain tens of thousands of gallons of water storage, your monthly water expenses will rise substantially. Having a functional pool heater or pool pump could add an average of $300 per year to the total cost of your electricity bill.
Your pool will inevitably require additional maintenance in the future, whether due to a rip in the liner or a filter that has become irreparably clogged. The restorations could cost as little as several hundred dollars or as much as several thousand dollars.
