Budgeting for a Swimming Pool

While exotic vacations are wonderful, not everyone can afford the expense and time of travel. So instead of paying thousands every year for a new family vacation, why not design your yard for a staycation. Swimming pool construction is one of the best ways to bring water to your home. With a decent budget, you can even create a luxurious backyard oasis. However, before searching for contractors, there are a few things you should do.

Research Prices and Get Rough Estimates

Pools vary in price, but inground pools are considerably more expensive than above-ground options. However, inground is likely the best choice to provide the staycation of your dreams. As you consider a budget for your backyard project, ask friends, families, and neighbors what their pool project cost. While some people might be reluctant to tell, others will happily provide the information.

If you are struggling to find people willing to provide insight into their pool budget, consider reaching out to local installers. You can ask about a rough estimate for an average inground pool. Most installers can provide a rough ballpark figure, but they will need to see your property to offer any official estimate.

Plan for Unexpected Expenses

As with any construction project, mistakes or changes to the building plan will occur. These changes can result in the budget going out the window unless you plan. Most construction budgets, including swimming pool construction, will require a 10% to 15% surplus to preempt any delays, mistakes, or changes.

Use Financing, Savings, or a Loan

Depending on the project, you might have enough savings to cover the build and installation, but most people will not. Typically, an individual will need a loan to cover the costs. However, some installers offer in-house financing options to qualified homeowners. Financing can be a better deal than other conventional loans, but you will need to weigh the pros and cons.

Swimming pool construction is an excellent option for homeowners who want to save money on costly annual vacations or merely want to enjoy their backyard more. Reach out to a professional and licensed pool installer for an estimate.

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