The three types of pools are: vinyl liner, fiberglass and gunite. Your swimming pool cost will be based on which one of these pool types you choose.
Vinyl Liner Inground Pools
Vinyl liner swimming pools are the least expensive when considering swimming pool cost. However, they’ll come with more repair and replacement costs down the line, as well as require more chemical costs for maintenance.
Fiberglass Inground Pools
In most parts of the country, fiberglass swimming pools will be next in terms of swimming pool cost for the initial installation. Fiberglass swimming pools come with the lowest overall lifetime maintenance costs.
Gunite (Concrete) Inground Pools
Gunite swimming pools will have the highest initial swimming pool cost, and they do not come without maintenance. Gunite will require resurfacing and repainting over the years.
Many factors go into which pool type is right for your situation. It depends on how fast you want your pool, how much money you have for initial and long-term investment and how long you plan to stay in your home, Do some research to decide which type of inground pool is right for you.
Trying to figure how much an inground pool will cost can be tricky because there are many factors that affect its cost beyond the pool type. Also consider the following when trying to determine the cost of a new inground swimming pool.
Where you live
Swimming pool cost does vary by geographic location. Swimming pool costs in central Indiana, southern Indiana, Michigan, Ohio, Illinois and Wisconsin will vary greatly from swimming pool costs in Sun Belt states like Florida, Texas, California and Arizona. This is because construction, permit, and safety requirements (e.g. fences and safety covers) vary by region. Even chemical use will vary by climate and can drive up the cost of having a pool.
Costs beyond installation
When you’re considering swimming pool cost, keep in mind that there will be items to factor in above and beyond your initial swimming pool installation cost. These additional costs can include: site preparation, accessibility issues to your swimming pool installation site, swimming pool permits, fencing, electrical work, landscaping and dirt hauling. Be sure to include estimates for these items when you’re calculating your swimming pool cost.
Also, consider the options for add-ons and other features. Prioritize them and make sure the features that are important to you are available in the type of inground pool you choose. You might even consider adding a spa to your inground pool for added enjoyment and relaxation.
The size of inground pool you want
The size of the inground pool you choose will also affect your cost, not just with the inground pool cost itself, but also in excavation costs, water and chemicals to maintain it over time. Make sure you’re considering how you plan to use your pool and get only as much pool as your family needs. A small inground pool will still bring years of enjoyment and fun.
The time of year you choose to install your inground pool
The time of year you choose for your swimming pool project will also have an impact on your inground pool cost. Pool builders may offer discounts for installations in the off-season. While the heat of summer might feel like the obvious time to get started on your inground pool project, the reality is that most pool builders near you will already be booked. Winter is a great time to get estimates on your inground pool cost, as pool builders will have more time to send a pool professional to your home to assess the challenges of your site and give you an accurate estimate for your inground pool cost.
Saving money for a pool is just like saving money for a vacation or anything else you really want–you have to resolve to do it on a regular basis and keep your goal in sight. If you’re committed to saving money for a pool, and you create a realistic budget for it, you can make your dream of having your own inground swimming pool a reality. You may even make it your New Year’s resolution. Whatever strategy you choose, you just need to get started! You may choose to mix and match the following financing options:
Out of pocket.
If you can, start stashing away any extra dollars in your budget into your “pool fund.” Even if you only have a small percentage of the total pool cost in savings, it will be a great start. The same strategies apply to saving for a pool as saving for anything else you really want. Be disciplined. Set a budget. And visualize reaching your goal.
While financing your new inground fiberglass pool with credit cards might not be the best option, using credit cards may be helpful to split up the various costs of your total pool installation. Perhaps you will choose to pay for the pool with a home equity line of credit and put the costs of landscaping and lighting on a low-interest credit card with perks–gift cards to home improvement stores, airline miles or cash back. Many credit card companies offer special introductory rates to new cardholders, or zero interest for a specific period of time on balance transfers. This can be a great way to buy yourself more time to pay off a credit card purchase without paying stiff interest rates.
Unsecured loans (home improvement loans)
Unsecured personal loans are based on your credit score, and they’re not backed by collateral, so banks will typically offer a smaller loan amount and a higher interest rate on these types of loans than they would on a home equity or other collateral-based loan.
Home equity loans (also known as second mortgages)
A second mortgage is simply borrowing against the equity you’ve built up in your home. Most banks will only offer a home equity loan against 90% of the total equity. At closing, you will receive a lump sum at a fixed interest rate. Just like your first mortgage, you’ll have a set period of time to complete the repayment. Those terms can stretch anywhere from five to thirty years.
Cash-back refinancing of your mortgage
If interest rates are lower now than they were when you bought your home, refinancing your mortgage is a great option. If you’ve built up some equity in your home, you’ll receive a lump sum at closing that reflects the difference between the new mortgage and the payoff on the old one.
Home equity lines of credit (HELOC)
HELOCs are a fantastic option for financing your new swimming pool. In essence, they’re a revolving line of secured credit (using your home as collateral) that allows you to borrow against the equity in your home, but it allows you to choose your amount and pay interest on the amount that you need at any given time. If your home has increased in value since you purchased it–for example, you got a great deal or it was recently re-appraised for considerably more than you paid for it, you’ll have a larger line of credit available to you.
If you apply for a HELOC, the bank will take your home’s appraised value and subtract out what you owe on your mortgage. The difference will become available to you in the form of a low-interest credit line which you’ll be able to access via checks or a credit card.
Finding a great pool builder near you and getting an on-site estimate is the first step to owning your own inground pool. Most pool builders are happy to give you a free estimate. Do some research, check their online reviews and get more than one estimate for the cost of your inground pool project.
Inground pool installation
Once you’ve hired your inground pool builder and approved an estimate, it’s time to start preparing for your inground pool installation. The type of inground pool you’ve chosen, as well as the specific challenges of where your house is located, will affect how long your pool installation takes.
If your family loves to swim, owning your own inground pool is the way to go. It’s certainly nice to have a local shared pool to use, but creating your own backyard pool paradise means that you have total control over when and how you use your pool. You’ll come to enjoy the inground pool lifestyle and your neighbors will be clamoring for an invitation.
When you have your own inground pool, you’ll be able to design the space for your backyard pool paradise with the patio, landscaping, accessories (this is not gated!) and features that matter most to your and your family.
Owning your own pool also allows you to get into an ideal personal swimming exercise routine. Inground pool owners enjoy the health benefits that regular swimming gives them. A new inground pool can help you kick off a new exercise routine of your own.
The inground pool lifestyle means pool parties. There are lots of different types of pool parties you can throw, based on the season. For example, if you live in a cooler climate, Labor Day is a great time to throw a pool party as your swimming season comes to an end.
Quality Family Time
The best part of the inground pool lifestyle is the quality time it creates with your family. You can reconnect with your kids, as they’ll want to spend more time at home in the pool. Their friends will want to be there too, so you’ll learn more about your children’s lives, be able to provide them a safe place to have fun and help them make new memories with their group!
There are several factors to consider regarding maintaining your inground pool. When your inground pool is installed, you’ll have many choices for the inground pool maintenance tools you’ll need to help you keep your pool clean and ensure that your investment lasts.
Because of their gel coat finish, fiberglass inground pools have the lowest overall lifetime cost of maintenance. Fiberglass inground pools also last a lifetime, with no need to repair or replace like other types of inground pools. To maximize the length and enjoyment of your swim season, you’ll likely want to heat your inground pool, and there are several types of inground pool heaters to consider. When the swim season finally does come to a close, you’ll have a few inground pool maintenance tasks to complete to prepare your inground pool for closing.
There are lots of options available, and now’s the time to learn how!Get our guide!