There’s a lot to love about a backyard swimming pool. Pools are aesthetically pleasing. They beckon you to sit next to them with a cold drink or take a refreshing plunge in their depths. A pool is a fun attraction for guests if you love hosting parties.
However, you have many factors to consider when deciding whether a backyard swimming pool suits you and your family. Here is a look at five of the things you’ll need to consider before taking the plunge, so to speak.
- Financing
An inground swimming pool costs an average of $35,000 to build. The factors that affect your cost include variables such as:
- The size of your desired pool
- The materials you use to build it, such as fiberglass, concrete or vinyl
- The pool’s shape and design, such as a rectangle, geometric shape, freeform or kidney shape
- Your desired features in and around the pool, such as a waterfall, diving board, slide and deck
- Components inside the pool, such as lighting and heaters
- The fence or enclosure surrounding your pool, which is an important safety feature
- A manual or automatic pool cover
Your location can factor into the final cost as well. Pools in southern states cost about 20% less than swimming pools further north. If you’re building a pool on a steep hill, a rocky location, or a place far from the pool builder’s headquarters, your costs can increase.
There’s no denying that an inground pools are a big investment. You may decide that financing a pool is your best option. It’s a good idea to research your financing options as you plan your backyard pool. Some options to consider include:
- Home equity line of credit, also known as a HELOC
- Refinancing your mortgage to a lower interest rate and using the cash difference for your swimming pool
- Personal loan
As you consider your options, think about the features you definitely want and the ones you can do without. Do you absolutely want a concrete swimming pool, or can you live with a less-expensive fiberglass model? Is the waterfall feature non-negotiable? Talk to your family members about their preferences and desires and try to devise a solution everyone can agree on.
An inground pool is an investment you don’t want to take on blindly. The more you know upfront, the better informed you will be and the better decisions you can make.
- Home Value
An inground pool can raise the value of your property. Some real estate experts point out that homes with a well-maintained and attractive swimming pools in the backyard sell for higher prices. If you live in a neighborhood where most homes have pools, adding one can align your home with the property values around you.
If you live in a state with a warmer climate, your pool can undoubtedly be a sought-out feature for home buyers. Having a pool right in the backyard is a plus during a hot southern summer. It’s also a draw for buyers if you live in a climate where you can use the pool all year.
Exactly how much value a pool adds to your property can vary. Most estimates are between 5% and 8%. Since the beginning of 2020, though, many reports estimate the value a pool adds to a home has increased significantly.
Whether you plan to sell your home soon or stay for a long time, pools can bring added value to your property.
- Maintenance
Pools are an initial installation investment, but they are also a monthly investment. The average cost to maintain a pool is between $80-$150. A first-time pool cleaning service runs between $150-$350.
Opening a pool for the season costs between $385-$485 on average. These expenses include services such as:
- Draining or refilling the pool to the correct level
- Shocking the water with chemicals to clean it
- Adding chemicals to prevent surface buildup and stains
- Reinstalling handrails, lights, ladders and other features
- Vacuuming and running the pump
Pools need weekly and monthly maintenance while they’re open. The water chemistry must stay balanced to prevent bacteria and algae growth. It is also best to run the pump for eight to 12 hours daily to prevent water stagnation. The equipment, chemicals and electricity costs are part of your pool expenses.
If you close the pool for the winter, you may pay between $365-$650. The water’s chemical balance needs changing, and the debris needs vacuuming. You may need to plug and add antifreeze to some of the equipment.
The monthly expense of pool maintenance is something to consider, but you should also account for the time it takes. If you perform maintenance yourself, you can expect to spend several hours each month maintaining your pool.
If everyone in your family is on board, the maintenance and costs can be worth the joy your pool brings to your household.
- Physical and Mental Health Benefits
When you come home from a long day at work, you can look forward to a dip in the pool to wash away the stress. When it’s hot outside and nothing seems to cool you down, you can head to your backyard and jump in the pool.
According to the CDC, swimming can improve your mood and reduce anxiety while helping with arthritis and other physical conditions. Water is relaxing and soothing; as you listen to its splash and flow and feel it on your skin, you can feel as good as you would in a spa.
Having a pool is an easy way to get exercise. The water is buoyant, easing the tension on your joints and muscles as you exercise. Pool workouts are a great way to prevent injury. They’re great for people with injuries such as sprains and strains to get exercise and therapy — the pressure and buoyancy of the water support injured areas while offering relief from inflammation.
At the same time, the water offers resistance and can make your workouts more effective. Pools are an excellent place to do low-impact aerobic activities. Having a pool at your house can make your workouts more convenient — you don’t have to pack your suit and towel and drive to a gym or the neighborhood pool.
A pool can be an excellent way to exercise and relax if your family can benefit from improved physical and mental health (as most people can).
- Entertainment
Is your family active and on the go all the time? A pool can bring everyone home to spend time together. Your children can entertain their friends, allowing you to keep an eye on everyone, know where your kids are, and let you meet the people they hang out with. Having your house serve as the gathering place offers these benefits, plus you can spend more time with them at home.
Pool parties aren’t limited to your kids’ friends, however. You can just as easily have your friends over to visit, go for a swim or sit by the pool sipping refreshing beverages. You can also celebrate summer holidays in your pool (and winter ones, if you live in a warm climate).
If you enjoy the idea of having your house as the place where people want to gather, a pool may be perfect for you.
When deciding whether a pool is right for you, you have much to consider. While it’s a significant investment, it can pay dividends with years of fun.
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