4 Things You Need to Know About Financing a Swimming Pool

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Sipping red wine or splashing water with kids in a backyard pool on a sunny evening is everyone’s dream. But have you ever thought about the cost a backyard pool incurs? Here are a few things to know about financing a swimming pool before building a pool and save on a major investment like a swimming pool.

1. Financing options

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There are numerous financing options when it comes to financing a swimming pool. Below listed are a few:

  • Unsecured personal loans

Not all unsecured personal loans require collateral. A few financial institutions offer collateral-free loans. But most of the collateral-free loans come with the high cost of high-interest rates. However, the repayment terms can be tuned to your financial status that can expand from over 12 months to 84 months. This way the risk of falling into long-term debt can be avoided.

  • Home equity loans

This is not a collateral-free loan and it allows the pool buyer to acquire the loan as against equity in your home property. The home of the buyer will be used as the collateral here. Since it offers loans against collaterals the interest rate will be lower than the unsecured personal loans. However, it doesn’t come with zero risks. The home of the buyer is at risk if the loan and EMI are not repaid regularly.

Home equity loans are usually repaid over longer terms, which can range from over 12 to 15 years, which is again a risk that can push the buyer into long-term debt. The most important thing is that the buyer’s home needs to have equity in his/her home to be eligible for this loan.

  • Poor dealer

If you are looking for pool dealers, you need to make sure that is is someone reliable. Keep in mind that you need someone that can set up the entire pool and this is something you need to consider for your budget.

According to Compasspoolsmelbourne it doesn’t cost as much when you hire a company that specializes in pool building and buy a pool from a reputable seller. It would be twice as much to pay each worker individually, plus, you couldn’t tell for sure whether they’d do a good job or not, especially if they don’t specialize in pool building.

2. Qualify for pool financing

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The first obstacle the pool buyer probably encounters is to qualify for these pool financing options. It can be a hectic task to qualify for pool financing even if the buyer is ready to withstand higher interest rates. Most of the lenders evaluate various factors before approving the loan ranging from credit history, financial status, and equity to assess the eligibility for pool loans.

Even though few lenders are kind enough to approve the pool loans without much scrutiny, these come with risky interest rates that may probably push the buyer into a debt crisis. Hence, the final decision lies with the buyer whether to take the risk or not. It is not recommended to fall into the traps of pool dealers who offer easy loans with high-interest rates. Rather it is wise to work on financial difficulties and obtain the loan later with lower interest rates and minimal risks.

3. Maintenance

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Installation is not the only cost that a pool incurs. Pool maintenance is an equally exhausting task once the pool is built. Swimming pools usually need regular maintenance. High maintenance comes with big bills. Here are a few maintenance expenses the swimming pool may incur:

  • Regular water treatments to clean the water in the pool and avoid turbid water and the unpleasant consequences of chilling out in murky water.
  • Pool cover to protect the pool from dirt and grime.
  • Temperature control to avoid extreme water temperatures.
  • All the other cleaning equipment is required to keep the pool clean and tidy.

These are just but a few additional maintenance expenses that the swimming pool attracts. These needs and costs may vary according to location and personal requirements. In addition to these costs, the buyer must also factor in the repair costs of the pool to ensure the perfect condition of the pool.

While these are just ideal costs, different residence locations may call for different installation costs if it requires additional installations like a secure fence or leveling the ground. This could add a lot to your expected installation cost which might hit as a financial burden.

4. Other things to remember

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Besides the above-mentioned information regarding financing the pool, there are a couple of safety measures one needs to ensure before finally taking the plunge

  • Paying a significant principal loan amount at the initial stage will reduce both the loan amount and the interest rate. This way the buyer can resist the risk of longer repayment duration, higher interest rate, and probable debt crisis.
  • Dedicated research must be done before finally going for a pool dealer or a loan deal.


Financing a swimming pool is a huge endeavor. It takes a lot of time to complete every stage of the project and you might even end up with unplanned expenses and other issues. Therefore, it is advisable to plan everything in advance and hope for the best.

Make sure that people who are working on your pool are reliable and that they have a track record. That will prevent potential issues and you can know what to expect in advance. They will get the job done for you, even though initially the price may be higher.

Written by Anita Kantar

Hey there, I'm Anita Kantar, and I'm passionate about words and creativity. As a content editor, I have the privilege of shaping narratives and sharing stories that resonate with readers. With each article I craft, I aim to inspire, inform, and entertain. When I'm not immersed in the world of editing, you'll find me lost in a good book, exploring new hiking trails,. Whether I'm polishing prose or chasing adventures, I'm always eager to connect with fellow enthusiasts and share experiences that spark joy and inspiration.

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