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There comes a time when you just want to relax and take a breath, especially if you live in a tropical country or one that has a warm climate. You want something to cool down with aside from just having a cold drink. Taking a swim in your own pool is very ideal. Others have different reasons for adding swimming pools to their homes. Some just want to enhance their outdoor living space, while some want to increase the value of their home before putting it up on the market. Swimming pools are known for providing a kind of oasis for friends and families to bond. However, it is also not cheap to build one, so it is wise to know first how much your budget can afford and what kind of pool you can afford. TGUC Financial can help you find a pool installer as well as assist you with financing the cost to install a pool.

According to the early 2020 statistics from Swim University, the approximate number of swimming pools in the U.S. is 10.6 million and more than half are in-ground. It also looks like that number is rising because with this pandemic, many families are looking for fun ways to spend their summer without leaving their homes and to put up with that, many pool projects are up for sale.

The national average cost of building a swimming pool ranges from $3,000 to $100,000 due to the numerous extensive work involved in the project. To start with, around $50,000 would be an ideal budget for an average homeowner to build a 12 x 24-foot in-ground fiberglass pool with a concrete deck.

Cost to Install a Pool

  • National Average Cost: $50,000
  • Average range: $3,000 to $100,000
  • Minimum Cost: $1,500
  • Maximum Cost: $110,000

Factors that Affect the Cost of a Pool

Size

Pool size is one of the major factors to consider when budgeting for a pool because it can cover an estimated 75% of the overall price. They are typically sold and priced by square foot and the average size of a typical backyard pool is 12’ x 24’. Besides that, there are also some other common pool dimensions such as:

  • 10’ x 20’
  • 15’ x 30’
  • 20’ x 40’

In addition to help with selecting the right pool size, try asking yourself questions like “how will I use the pool?”, “who will be using the pool?” and “how much space is available?”.

Shape

Aside from the pool size, you should also consider its shape. Backyard swimming pools are usually in shape of a rectangle, round or oval as these are the standard ones. Rectangular pools are the cheapest because of  their straight edges. On the other hand, curved ones such as freeform, kidney, or custom, are more expensive since they have more extensive work to be done because of their irregular angles. Building a kidney-shaped in-ground pool would approximately cost $2,000 more than the standard rectangular one.

Also note that options for the pool shape will also depend on what material you chose for the pool to be made of, or vice versa. For example, if you want an irregular-shaped pool, going with concrete is ideal because it offers customization than the much cheaper fiberglass.

Materials

Listed below are the three types of materials that are commonly used for constructing an in-ground swimming pool.

1. Vinyl

Aside from being the fastest and easiest to make, this is most budget-friendly material to choose out of the three. Pools made of vinyl have a variety of shapes. However, given that it’s the cheapest, it also requires the most maintenance, as replacing the liner every seven years on average will be a necessity. Also, according to Cristina Miguelez, remodeling specialist, “Vinyl is also the least likely to enhance your property or provide a good return on investment”.

Cost: around $37,000

2. Fiberglass

This would be a mid-range level of material because not only it is quick to install but also very durable. Pool shells made of fiberglass can last up to 25 years as it is resistant to algae build up and requires less maintenance. Be that as it may, it also offers limited sizes and shapes to choose from. This is because fiberglass pool molds are made prior to construction and manufacturers have their own set number of molds that they can offer.

Cost: around $50,000

3. Concrete

The cost of this varies depending on what method will be used, whether it is gunite, shotcrete, or another method. Most concrete pools are finished with plaster or another same type of material. It also takes the longest time to build and finish which usually can take up to 12 weeks. However, with all the extra cost and time spent, rest assured that it will all be worth it. Pools made of concrete are the longest-lasting and most durable out of the three. As mentioned before, it offers more customization with its numerous options of sizes, shapes, depth, and appearance.

Cost: $50,000 to $60,000+

Saltwater or Chlorine?

Chlorine is commonly used in swimming pools to keep it from germs and bacteria. Chlorinated pools are done by adding chlorine tablets or sticks into the pool water. On the other hand, a generator is used with saltwater pools. It uses electrolysis, a process where it automatically produces enough chlorine. There’s not much of a difference between the two when it comes to cost. Chlorine pools have chemical costs ranging from $300 to $800 a year, while saltwater ones have an average of $70 to $100 per year. However, saltwater pools have more expenses than that and listed below is the breakdown of its costs.

  • Saltwater Generator: anywhere from $400 to $1,800
  • Generator Installation: around $300 to $500
  • Salt: around $50 to $150
  • Total Initial Investment: between $750 and $2,425

Extra Costs aside from the Pool itself

Yard Prep: $7,500 to $12,000

Pool Decking (or Pool Patio): $2,000 to $10,000+

  • Basic Concrete: $10 per square foot
  • Colored Concrete: $11.50 per square foot
  • Stamped Concrete: $16 per square foot
  • Travertine or Natural Stone: $24 per square feet

Pool Cover: $600 to $2,200

  • Basic Cover: $100 range
  • Automatic Cover: as much as $2,000

Safety Barriers:                                                

  • Pool Fence: from $1,500 to $10,000+ ($15 to $25 per linear foot)
  • Chain-link or Mesh Fencing: $1,000 to $5,000
  • Higher-end (such as Iron, Wood, Aluminum, or Vinyl): from $2,000 to $12,000
  • Screens and Enclosures: from $4,800 to $14,300

Hot Tub Combo: $8,000 to $15,000

Heater: $1,600 to $3,800

Waterfall: $1,500 to $10,000

Diving Board: $300 to over $1,000

Slide:

  • Simple and Prefabricated: $1,000 to $4,000 or up to $10,000
  • More Complex: $20,000

Landscaping:

  • Trees, Shrubs and Plants: $3,000 to $5,000 ($4 to $12 per square foot)
  • Drainage System: about $3,400
  • Retaining Wall: up to $5,000
  • Tree Removal: up to $825

Ongoing Monthly Costs

Taking into account the long-term monthly maintenance expenses is as crucial as the other factors when budgeting for a swimming pool. For example, monthly pool heating can cost anywhere between $250 to $1,000 a month according to Pardee. So hiring a service to do regular cleanings to your pool will also increase your monthly expenses.

TGUC Financial Can Help You Finance the Cost to Install a Pool

TGUC Financial can help you find a pool installer as well as assist you with financing the cost to install a pool.  Contact us today.