Essential Insights for Financing Your Dream Swimming Pool
Your dream swimming pool is just one step away!
Are you ready to explore your options for your own backyard oasis right here in Oklahoma? Adding a pool to your Tulsa area home is a journey well worth considering. However, you may wonder just how you will pay for it.
In this article, we uncover essential insights for financing your dream swimming pool.
Yes, adding a swimming pool to your home is a positive, both for your family and friends and for the value of your home. However, there is a financial aspect to consider. There are many ways to pay for your backyard retreat, and we look at them here. Our goal is to help you make backyard memories with a custom-built swimming pool, so let’s look at your options.
How Much Does a Pool Cost?
Like most things, some variables change the cost of your pool:
- Style of the pool
- Size of the pool
- Whether it’s an inground pool, above ground pool, or a semi-inground pool
- If it’s a gunite, vinyl liner, or fiberglass pool
- Extra features such as a diving board, infinity edge, water features, fire features, and more
- Elements such as lighting and smart technology
The good news is that our expert team is here to help you find the perfect pool for your budget.
What Are the Options for Financing?
We have curated some great options for you so you have a path to pool ownership that works for you.
While some people pay “cash” for their pool, others put it on a credit card, some look to home equity lines of credit, and others look to personal loans, a great many of our new pool owners take advantage of financing options.
Here are the options we offer from our trusted financing partners:
- HFS Financing
- Lyon Financial
- Lending Club
- Lightstream
- Paramount
Financing your new swimming pool makes dreams come true.
How Do I Know Which One is Right for Me?
When looking through your options, you want to consider the interest rate and the length of the loan. The interest rate tells how much you’ll pay for the life of the loan, and the length tells you for how long.
You want to think about the repayment terms and how they’ll fit into your family’s monthly budget.
You may find that a shorter loan term has higher monthly payments, but you’ll generally pay less interest with this option. Yet, if you want and need a longer repayment term, your monthly payments will be less, but you’ll pay more interest over the life of the loan.
Also, think about any fees or closing costs involved with either a loan or financing options.
You ultimately want to do your research and pick the best option for your budget.
How Do I Prepare for the Loan Application?
The first thing you want to decide on is your overall pool budget. Then, decide how many months/years you’d like to take to pay for it.
Next, check your credit report. Your credit score will play the largest role in determining if you’re eligible for a loan, how much you’ll get, and what your repayment terms will look like.
Once you have your credit report, look it over carefully and make sure everything looks correct.
Next, you want to gather the following before you apply:
- Proof of income
- Tax returns
- Info on your existing debts
Now, you are ready to apply.
Final Thoughts on Financing Your Dream Swimming Pool
Building and financing a new swimming pool requires careful planning. You want to research your financing options so you make the best choice possible.
If you have a financial advisor, you may want to speak with this person. An advisor can help you set a realistic budget that you feel comfortable with. In addition, discuss your ongoing maintenance needs with us, and we can give you an idea of your yearly costs for chemicals and service.
Understanding what you are looking at financially and making the right decisions will help you enjoy your new swimming pool for years to come. Financial peace of mind is key when setting your overall budget.
At Fiesta Pools and Spas, you can count on us to bring your dream pool to life. We are the Tulsa area’s premier custom pool builder. In business for nearly 70 years, our experience makes us the pool builder you can trust and count on. Contact us today, and let’s build your Oklahoma oasis!
