Swimming Pools: A Deep Dive on the Cost and Value

If you don’t have the luxury of a close community pool or a neighbor nice enough to let you use theirs, you might be wishing you had a pool in the backyard to cannonball in as temps rise. Whether you’re on the fence or ready to take the plunge, we’ve covered what you need to know about residential swimming pools.

Types of Swimming Pools

First things first, there’s many types of pools that you can install on your property, with some more affordable than others.
 

1. Inground Pools | Cost: $28K-$55K

   
   
   These are your most traditional, family-friendly type of swimming pool, and they are typically made of either fiberglass, concrete or vinyl-liner.
   
   Fiberglass costs more upfront but can be installed quickly and has the lowest cost of maintenance out of the three, according to Forbes.
   
   Vinyl-lined pools are highly customizable in size and have the lowest installation cost, but the liners can be susceptible to tears and will need to be replaced every 7-15 years, a process that can cost up to $4,000, Ecooutdoor reports.
   
   Concrete pools are the most durable and long-lasting option, and they are highly customizable. The downside is you’ll have to wait three to six months for the install, according to Forbes. They can also be difficult to maintain and prone to algae growth, meaning you’ll need to invest in more filtration and chemicals on a routine basis.



2. Above-Ground Pools | Cost: $1,850-$5,000

   
   
   Pools constructed above ground on your property allow homeowners to enjoy the perks of a pool at a lower upfront cost and quicker turnaround time. Plus, they offer a safer option for families as there’s a lower risk of falling in. However, they’re considered not as “pretty” as inground pools, which can be a deterrent to potential buyers when it’s time to resell. Additionally, durability is an issue as many only last seven to 12 years, according to Ecooutdoor.



3. Lap Pools | Above-Ground Cost: $15K-$30K | In-Ground: $20K-$70K

   
   
   Designed for swimming laps, these long, rectangular pools are a refreshing way to exercise. While not a very family-friendly option, lap pools tend to incur less maintenance costs since they usually have less water.



4. Infinity | Cost: $55K-$130K

   
   
   If you want the resort experience from the comfort of your home, you can opt for a custom-built infinity pool. While beautiful, you’ll end up paying 30% more than a regular inground pool.



5. Saltwater Pools | Cost: Varies

   
   
   Opting for saltwater over chlorine can give you lower monthly maintenance costs and can be gentler on skin, according to Forbes. However, they can be more expensive up front thanks to special generators that cost up to $1,500 and salt cells that range from $300 to $600 and need to be replaced every several years, according to National Pools & Spas. Additionally, salt is corrosive and can damage anything metal.



6. Plunge | Cost: $14K-$25K

   
   
   Designed to be cold, small and one depth, plunge pools are intended as a cool down after athletic activity rather than swimming.



7. Swim Spas | Cost: $18K-$26K

   
   
   Kind of like a hot tub, swim spas are small pools meant for lounging that can have jets and lights. They cost less than a full-size pool and are a relaxing option for a small household. However, you won’t get much serious swimming done in it and they’re usually too small for families.



8. Indoor Pool | $40K-$200K

   
   
   If you live in a colder climate, an indoor pool makes it possible to enjoy your pool all year long without having to winterize it. You can have it installed in an existing basement, sunroom or screened porch. While you’ll have less maintenance with it not being exposed to the elements, enclosed pools are still very expensive and require dehumidification systems.

 

The Cost of Residential Pool Maintenance

Once you have a pool, maintaining is a key part of helping retain the value of it. According to Forbes, it takes an average of about $180 per month, depending on your location and the size, materials and type of pool. Plus, be prepared for utility bills to increase as well as home insurance premiums.

Do Swimming Pools Add Value?

Now that we’ve looked at the numbers, you’re probably wondering if it’s worth it to install a pool and how much return you’ll see on your investment. In hot climates like Florida and Arizona, a well-kept pool can raise your sale price by 7%, according to Forbes. However, some buyers may not want to deal with the maintenance or safety risks a pool entails. When it comes to your own personal satisfaction, no one can put a price on the joy of jumping into a cold pool on a hot day.

Where’s it’s Really Cool to Have a Swimming Pool

NAR data from 2021 showed the top five cities that had the most pools in the U.S. were all in Florida: Boca Raton (74%), Miami (70%), Fort Lauderdale (69%), Hollywood (67%), and Pompano Beach (67%). On the other hand, pools were pretty rare in Anchorage, Alaska (2%); Lincoln, Nebraska (2%); Pueblo, Colorado (2%); and Lancaster, California (2%).

Pros and Cons of Owning a Swimming Pool

Pros

• You have many options as far as sizing, materials and type of pool available to you
• Great for family fun, exercising, cooling down and entertaining
• Can increase your home value in some markets
• A private swimming experience as opposed to a community pool

Cons

• Requires regular maintenance
• Cost of installation
• Higher utility bills and insurance premiums
• Safety Concerns

 

How to Finance a Swimming Pool

You’re not on your own when it comes to financing a pool – we offer a variety of options.

Cash-Out Refinance

Our cash-out refinance allows you to access funds from your home’s equity to help with renovation projects like installing a pool. It works by replacing your existing mortgage with a new home loan that is for more than what you owe on your current mortgage. Then, at closing, you get back the difference in cash.

HELOC

A Home Equity Line of Credit (HELOC) allows you to use the equity you have built in your house as a line of credit to finance large expenditures over time. HELOCs are perfect for remodeling projects that add value back into your home. We offer HELOC loans ranging from $25,000 to $500,000 with investment property, bridge and interest-only options.

Final Thoughts on Swimming Pools

Whether you choose to install a pool in your home, purchase a pool home or want a house with a sweet community pool, we can help. Learn more about our financing options and friendly Loan Officers who are ready to help you with all of your homeownership goals.

We do not guarantee the accuracy of the information provided by the vendors.