Most homeowners have considered installing a pool at one time or another. While having a pool might seem like all fun and games, there is a downside to it as well. Before committing the financial resources and backyard space to this major undertaking, consider both the good and the not-so-good aspects of pool ownership.
Some great reasons to own a pool:
- For Privacy: You love the water, but you don’t want to share the space with strangers at the community pool. Solution? Create your own space.
- For Exercise:Water is wonderful for no-impact aerobics. All that pounding your joints take when you’re exercising out on dry land goes away in the confines of your swimming pool. (If exercise is your main goal, you might want to consider getting an endless pool. They cost less and have the added advantage of taking up less space).
- For the Kids:A pool is a kid magnet. If you have one, yours can be the house where your kids’ friends come to hang out. You’ll always know where your children are.
- For Entertaining: Having a pool can make summertime parties that much more fun. Big holiday gatherings will be a blast, too.
- For Relaxation:There are few better stress relievers than floating away a few hours on the water. If that water is in your backyard, the more the better, because then you don’t have to add to your stress by going somewhere else to do it.
Some realities of pool ownership:
- Investment: If you’re thinking of it solely as an investment, you’re going to be disappointed. It’s simply not going to add much value to your home. Unlike a kitchen remodel or bathroom modernization project – both of which can return more than you invested in them given the right circumstances – you will never get a dollar-for-dollar return on your pool investment. Do it for one of the reasons listed above, but don’t do it thinking you’re going to get your money back.
- Resale:When it comes to the resale value of your home, there are few things more polarizing than a pool. It can certainly be an appealing feature – but only for those buyers who want a pool. For some prospective buyers, a pool is a complete deal breaker.
- Upkeep:Naturally, you’re going to want your pool to be clean enough to use – and that takes considerable effort and expense. Repairs to filtration systems, cracks that might develop or any other issues must also be taken into account. This work will either have to be done by you or by hired professionals. The former approach will cost you time and the latter money.
If, after careful consideration, you decide that the positives that pool ownership provide outweigh its deficits, you’ll need to come up with a financing method that’s right for you.
A home equity loan is a great way to pay for a pool installation. To find out what your payments might be or to Get Started with your application, click below! You could be swimming a lot sooner than you think!