1) Make sure everyone’s on the same page
Although it seems evident that everyone should agree to have a backyard pool, we’ve all been asked by an adult to convince another person. Because there are many decisions to make along the way, both the heads of household must agree on them.
2) Why do YOU want the pool?
3) Are you concerned about quality?
4) Determine how much you can afford to spend first
There is nothing worse than paying a deposit on a project to install pool, only to find out that the bank financing has failed. Know what you are willing to spend before you go looking for pool estimates. First, know how much you can borrow and then talk to pool contractors for estimates.
Is it worth the investment to have a pool?
These are some considerations to help you determine if a pool in your backyard would be worth the financial investment.
Can a pool increase the property value?
The short answer is that you will see an increase in the value of your property. How much? The National Association of Realtors stated that a pool’s average increase in property values was 4 and 6.6%. This means that you will not be able to recover the project’s entire cost.
A pool can be a wonderful gift for your family, and you
Your children and their friends will be able to play in your backyard with you. You will be able to supervise them and have a great time. And, most likely, your house will be the place where your kids want to go. This is a wonderful way to keep in touch with your children and their friends, as well as their social circle.
Many of our customers install pools to be able to host large family gatherings. Consider that your children are part of a soccer team or have other activities outside school. You’d love to be in a position to host them at your pool.
Your private, always-on vacation spot
Traveling is expensive, especially for families with children. So the idea of being in your own Oasis where you can escape everyday reality and walk out to your front door would be a great way to relax.
What is the interest rate for a pool loan.
How much will my loan payment be for a swimming pool?
For $30,000, a pool loan for 84 months will cost you $450-500 per month. Take that same loan with a $40,000 loan pool. You’ll be paying approximately $850 per month for a $50,000 loan and 62 600 600 600 600 to $675,000 for a $675,000 loan.
How do lenders determine how much I can borrow?
They consider your debt-to-income ratio, liquid assets, equity in your home, and retirement accounts. They will view all these factors, along with your credit score, such as your payment history and timeliness in making payments.
Is it possible to finance a small portion of my pool construction?
Yes. We find that many people can combine financing in cash for the pool and borrow money to finish the patio, fencing, and other landscaping components. The intent is to take out a small loan to complete the project and pay it off fast.