Swimming Pool Financing & Loan Options

As the summer season begins and the heat starts to rise, many homeowners daydream of turning their yards into paradise with a swimming pool to cool off. The cost of a new swimming pool, however, is often more than homeowners expect.

In fact, the average cost for a standard size in-ground pool is typically between $20,000 and $50,000 depending on the design chosen and where it’s installed, which often leaves homeowners wondering about financing options. When you partner with a contractor who offers financing, you can get your new dream pool without having to sacrifice design or materials, including fiberglass, concrete, and vinyl.

New Swimming Pools Increase a Home’s Value and Curb Appeal

Depending on the climate and location of a home, a typical in-ground pool can start around $20,000. With the installation of a new pool, homeowners will be able to sell their home for much more than they could without, averaging a 5-8% increase in their home’s value, sometimes doubling their return on investment.

New pools are also an aesthetically pleasing addition that can make any backyard come alive, increasing a home’s curb appeal. This value rises depending on how appealing and functional the swimming pool is. This is why it’s important to work with a contractor who offers home improvement financing at fixed rates and low monthly payments. Rather than having to worry about how to build a cheap swimming pool, homeowners and their contractors can work together to design and build a pool that will add a ‘wow’ factor and still be affordable.

Allows You to Afford the Materials and Size You Want for Your Pool

More so than other home improvement projects, a swimming pool’s design and location can greatly impact the overall cost. The material used for your pool also impacts the cost. Pools are made from concrete, gunite, vinyl and fiberglass and have different price ranges. An in-ground pool costs more to install than an above ground. In some places, having a backyard swimming pool also requires some kind of fence or other barrier. Also, depending on the climate, some pool materials are better than others as seasons change. Hardscaping and landscaping can also be a part of the project and can be included in pool loans.

Access to the best swimming pool, hardscaping, landscaping, and even pool enclosure financing means being able to afford any pool type, size, and location without sacrificing design or having to resort to using cheaper materials for the pool, hardscaping, and landscaping. Better materials mean less upkeep and fewer maintenance costs in the future.

Turns a Lump Sum Payment Into Easy to Afford Monthly Payments

Most homeowners are not in a position to pay out one large lump sum for a new swimming pool, hardscaping and landscaping — nevermind installing a dream pool. By partnering with a contractor who offers home improvement financing, homeowners can now get the pool of their dreams through affordable, low monthly payments. Imagine paying $400 a month for your $40,000 dream pool, plus the option to pay off the loan whenever you are ready with no penalty.

Swimming pool financing enables homeowners the option to afford any size pool along with any materials, from concrete to vinyl to fiberglass, without sacrificing on quality or future costs. That translates to less money paid out upfront, and more savings in the long run.

The Approval Process is Fast & Easy

For some homeowners installing a new pool means hours of initial research, figuring out where to buy swimming pools, cost differences, and asking how much a swimming pool costs after labor, hardscaping and landscaping questions. Once initial estimates come in, homeowners typically have to then take time to determine what sacrifices they are willing to make to bring down the price.

For homeowners who work with a contractor that offers financing, they instead go through a quick approval process for same day financing, up to $100,000, and spend the rest of their time designing the custom pool of their dreams.

Saves You Money Upfront to More Easily Afford Other Pool Expenses

A new swimming pool is a home improvement project that requires additional costs after installation, which homeowners often forget. Along with a home’s value and curb appeal, a home’s insurance policy with a new swimming pool will also increase, as will the home’s utility bills.

Swimming pools also need regular maintenance and cleaning throughout the year, requiring specialized kits and appliances, or payments to a pool care company. Add in any additional costs for pool tools or floats, and a new swimming pool can seem even less affordable.

However, with a quick approval process, no hidden fees, and a fixed low rate of 5%, saving on upfront costs and paying for a new swimming pool through low monthly payments can increase a homeowners available monthly cash flow to cover these additional costs.

Finance Your Swimming Pool and Use Your Cash to Pay Off the Loan Faster

PowerPay offers no prepayment penalties so there’s no downside to using a loan to cover the costs of a new swimming pool. That way if anything goes wrong, you have the extra money to cover the unforeseen costs, or you can use your cash flow to cover the full costs of the loan with no prepayment penalties.