How can you determine whether or not the benefits of installing a new swimming pool offset the costs? For many homeowners, the decision to install a new pool largely depends on their location. Read on to learn about some of the other factors.
Like beginning any other large home improvement project, installing a new swimming pool is not a decision to be taken lightly. Excavating, installing the pool liner and stonework, and maintaining your new pool are all significant expenditures for any household. However, for many homeowners, the expense is worth it. In addition to the enjoyment that comes with having a backyard pool, homeowners in some locales find that having a swimming pool is a massive boon to the curb appeal and resale value of their homes. How can you determine whether or not the benefits of installing a new swimming pool offset the costs?
How Much Does Installing a New Swimming Pool Cost?
There are many expenses involved in installing a new swimming pool. Excavation, construction, land surveying, permits, landscaping, and fencing are all expensive parts of the installation process. Installation can easily cost upwards of tens of thousands of dollars. Homeowners also have to think about ongoing costs from maintenance, power, and water. In short, choosing to construct a pool is nothing to sneeze at. Is the expense worth it? The answer is different for every homeowner.
Does a Pool Increase Your Home’s Resale Value?
For homeowners who are looking to make property improvements for a boost in resale value, a swimming pool might not be the best choice. They typically do not retain most of their value, though this depends heavily on the condition of the pool. The most significant variable when determining the financial benefit of adding a pool to your property is your location. In places like Southern California and Florida, swimming pools are often desirable. If you live in Michigan or Montana, you might not get as much bang for your buck. Look at the other properties in your neighborhood, with and without swimming pools. Pay special attention to homes that have sold quickly or for large amounts.
How Much Would You Value Your Pool?
While a swimming pool might not make sense for you on paper in terms of its ROI, you cannot put a price on the fun you’ll have with your new pool. If you are an avid swimmer or have children who swim, you will likely derive a great deal of enjoyment from a new pool. Pools are great spaces to entertain, and that might be your tipping point.
Your Project Loan Can Help
When you decide you’re ready to get to work, don’t let financing hold you back. We offer a vast array of loan services, just for you. You’ll never need to worry about paying too much out of pocket for your home improvement projects, and you can start working on your home improvements immediately. We also are partnered with the best dealers in the area, so you’ll be supported throughout your entire project.
We know that home improvement projects like these are urgent matters. This is why we offer a nearly instant loan decision once you fill out our 60-second loan inquiry! We conduct business in all 50 states* and our rates start as low as 4.5%* and terms go up to 15 years! HFS Financial can help you find financing up to $200k* for your project! What are you waiting for? See your options today!