As I write this post on how to save money on a pool purchase, I can’t help but think of the automatic response of “Do you really even NEED a swimming pool?” While yes upon first glance it may seem like an outrageous expense that will require a lifetime of maintenance and may cause additional fees you don’t expect, there really are a few reasons that would justify it as a reasonable expense.
Buying a swimming pool may seem like a large expense, but for many people who thoroughly enjoy swimming as a form of entertainment and exercise over the years it could potentially cost less than what it would cost by paying community pool or swim club membership fees.
Most public swimming pools range in the price of about $6-$8 per person per day. Over the summer, assuming you like to go swimming 5 days a week, this could cost one person over $400. Swim clubs can be even more costly, many with memberships ranging over $600-$1200 a season for a family pass. For those who love swimming, it only makes sense to have your own pool in a financial perspective. On the other hand, if you only swim a few times per season then it may not be the best decision for you as it would not provide value as an entertainment expense and perhaps the funds could be used more wisely for something else.
To help you find the best bargain and save money on pool purchases, here’s my best tips to get the best price:
1. Buy Out of Season: Buying out of season is critical. Yes, you might think you really want one towards the end of spring so you can enjoy it all summer. But the fall or especially the dead of winter really is the best time because the vendors and contractors are “hungry” – and so will be more likely to negotiate a good deal with you.
2. Get the Right Pool For Your Property: You should only buy a pool if it is something you plan to use on a regular basis AND it adds value to your property and home. A swimming pool done well with the proper fencing, deck, and patio can add thousands of dollars of value to your home for when you decide to sell it. Be sure that you factor in the costs for a deck and any costs associated with installation.
3. Comparison Shop: This is where it gets really tricky, because there are likely several different options where you live on how to buy. The best thing you can do is to get written quotes from each person that includes all fees associated with installing a pool including materials and labor. This way you can compare the prices side by side and decide which one is the best value.
4. Choose a Reputable Contractor: During your comparison shopping you’ll want to make sure that those you are working with are reputable. Asking for a written estimate, checking for insurance, references and testimonials, researching their business, reading reviews, and relying on the word of mouth from family and friends are all methods you can use to find the write person to do the job for you. This is a critically important step because if a job goes uncompleted, is flawed in construction or design, or the contractor causes damage to your property it can end up costing you way more money that what you could have potentially saved.
5. Do Some Work Yourself If Possible: If you are able to do some of the labor you may be able to save additional funds. For example, if you are experienced with concrete or deck building you could take on these projects yourself. However, if you are unsure of your ability to undertake these things, it would likely be better for a licensed professional as some mistakes can be more costly in the long run if not done properly.
6. Remember Additional Costs: There are many expenses that are easy to overlook when purchasing a pool. You will need to decide on a variety of factors such as water, energy bills such as heating and electricity. You will also need to factor into your budget yearly operating expenses that include filters, chemicals, and maintenance.
7. Avoid Financing: It can be tempting to take advantage of different financing programs or even to take out a home equity loan. However, these additional interest charges can cause the price to be greater over time. Making an additional monthly payment on top of yearly operating costs that will incur can be a recipe for disaster if saving money is your goal. If you cannot afford the cost now, make a plan where you put the amount of the financing payments into a separate interest bearing savings account. It is likely you will have enough to pay cash sooner than expected and will help you avoid going greater into debt.
When you consider all of the things we listed above, you can hopefully get a good price that makes purchasing a swimming pool a reasonable expense.
Have any tips on how to save money for a pool purchase? Share your thoughts in the comments below.
