{"id":232042,"date":"2025-07-12T15:00:58","date_gmt":"2025-07-12T15:00:58","guid":{"rendered":"https:\/\/evertise.net\/?p=121620"},"modified":"2025-07-12T15:00:58","modified_gmt":"2025-07-12T15:00:58","slug":"what-homeowners-should-know-before-taking-out-a-pool-loan","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2025\/07\/12\/what-homeowners-should-know-before-taking-out-a-pool-loan\/","title":{"rendered":"What Homeowners Should Know Before Taking out a Pool Loan"},"content":{"rendered":"

<\/span><\/p>\n

Adding a pool to a backyard can turn a home into a fun summer or year-round spot, but it\u2019s also a big financial decision.\u00a0<\/span>\u00a0<\/span><\/p>\n

Some homeowners use <\/span>pool loans<\/span><\/a> to help cover the cost of a new pool. But before jumping into a loan, it\u2019s important to understand how much it costs to build and maintain a pool, what kind of loan might work best and how all this factors into a homeowner\u2019s budget.\u00a0<\/span>\u00a0<\/span><\/p>\n

Consider the cost of building a pool\u00a0<\/span><\/b>\u00a0<\/span><\/p>\n

Basic above-ground pools, which don\u2019t require filtration, could cost anywhere from a few hundred dollars to $1,000. More complicated above-ground pools could range in cost from $1,000 to $8,000, depending on the size and material.<\/span>\u00a0<\/span><\/p>\n

In-ground pools, on the other hand, are more expensive and permanent. The cost to install an in-ground pool can start at $20,000, but fancier options can push the price even higher and range from $50,000 to over $100,000. Factors like size, shape, type of materials and extras like waterfalls or built-in hot tubs all affect the final cost.<\/span>\u00a0<\/span><\/p>\n

Remember to think about extra costs, such as fences, a deck and landscaping, which could all add up to thousands more.<\/span>\u00a0<\/span><\/p>\n

Keep ongoing maintenance bills in mind<\/span><\/b>\u00a0<\/span><\/p>\n

Building the pool is just the beginning. Keeping it running and looking good also costs money. Homeowners need to buy pool chemicals regularly to keep the water clean and safe, which could cost $50 to $100 a month.<\/span>\u00a0<\/span><\/p>\n

There are also costs for maintenance, including cleaning the pool, checking the filter and making minor repairs. Other equipment \u2014 like pumps and heaters \u2014 can wear out over time and need to be replaced.<\/span>\u00a0<\/span><\/p>\n

Pool accessories, such as chairs, towels and toys, could also cost a pretty penny depending on the style and quantity needed.<\/span>\u00a0<\/span><\/p>\n

Compare loan options\u00a0<\/span><\/b>\u00a0<\/span><\/p>\n

There are a few ways to borrow money to pay for a pool, and each option has pros and cons.<\/span>\u00a0<\/span><\/p>\n

    \n
  1. Secured personal loan<\/span><\/b>
    \nA secured loan is tied to something valuable the borrower owns, like a car or a house, which is used as collateral. Collateral protects the lender because if the borrower stops making payments, the lender could take the collateral to help cover the balance of the loan. Because the lender takes on less risk, a secured loan can often come with a lower interest rate and a larger loan amount than an unsecured loan.<\/span>\u00a0<\/span><\/li>\n<\/ol>\n
      \n
    1. Unsecured personal loan<\/span><\/b>
      \nAn unsecured loan doesn\u2019t require collateral. Instead, the lender decides if a borrower qualifies by looking at factors like their credit score, credit history and income. Since there\u2019s no collateral to back the loan, the interest rate is generally higher than that of a secured loan.<\/span>\u00a0<\/span><\/li>\n<\/ol>\n
        \n
      1. Home equity loan or home equity line of credit (HELOC)<\/span><\/b>\u00a0<\/span><\/li>\n<\/ol>\n

        If a lender is aware that a homeowner has equity in their home, which is the market value of their home minus the mortgage, or <\/span>the amount of the home\u2019s value they own outright,<\/span> they may qualify for a home equity loan or a HELOC. <\/span>Home equity loans and HELOCs are secured loans using the home itself as collateral.\u00a0<\/span>\u00a0<\/span><\/p>\n

        The main difference between a home equity loan and a HELOC is that a home equity loan provides the borrower with a lump sum of money that is repaid over time in monthly installments, while a HELOC is a revolving line of credit similar to how a credit card works. With a HELOC, a person borrows money as needed during a defined period of time up to a certain limit, can repay it and borrow again, and only pays interest on what they borrow.\u00a0<\/span>\u00a0<\/span><\/p>\n

        Even if the interest rate of a home equity loan or HELOC seems low, it\u2019s important to consider extra costs, like appraisal fees, that can raise the total cost of the loan. Most HELOCs also come with a variable interest rate, so the cost of borrowing can go up or down over time.<\/span>\u00a0<\/span><\/p>\n

        Budget for the years to come<\/span><\/b>\u00a0<\/span><\/p>\n

        Pools are fun \u2014 but they\u2019re also long-term commitments. Before taking out a loan, homeowners should think about the bigger picture.<\/span>\u00a0<\/span><\/p>\n

        Most importantly, homeowners should make sure monthly loan payments and any additional pool costs fit into their budget. Needing to cut costs on groceries, insurance or saving for the future might not be the best idea if that\u2019s what it takes to pay for a pool.<\/span>\u00a0<\/span><\/p>\n

        Additionally, homeowners should consider whether they will still be excited about the pool in five or ten years. Or will they still be paying for it after the excitement fades? If the latter might be true, monthly loan payments could become frustrating over time.<\/span>\u00a0<\/span><\/p>\n

        It\u2019s also worth thinking about a potential move in the future. If there are plans to sell the home, will a pool help or hurt the sale? Some buyers love pools, but others see them as too much work. Depending on the local market, a pool may not raise the home\u2019s value enough to cover its cost.<\/span>\u00a0<\/span><\/p>\n

        Dive in wisely<\/span><\/b>\u00a0<\/span><\/p>\n

        A pool can add a lot of fun to a home, but building and maintaining it is a big financial decision. A pool loan could help make it happen, but it comes with a lot of responsibilities. From construction and upkeep to loan payments and long-term plans, it\u2019s important to carefully think through everything.\u00a0<\/span>\u00a0<\/span><\/p>\n

        Homeowners who take the time to consider all the costs and compare loan options can look forward to enjoying their new pool to the fullest.\u00a0<\/span>\u00a0<\/span><\/p>\n

        SPONSORED CONTENT<\/span><\/b>\u00a0<\/span><\/p>\n

        About OneMain Financial<\/span>\u00a0<\/span><\/p>\n

        View Website<\/span><\/a>\u202f<\/span>\u00a0<\/span><\/p>\n

        OneMain Financial is the leader in offering nonprime customers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans.<\/span>\u00a0<\/span><\/p>\n

        Media Contact Information<\/u><\/strong>
        \nName: Sonakshi Murze
        \nEmail:         Sonakshi.murze@iquanti.com<\/a>
        \nJob Title: Manager<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

        <\/span>Adding a pool to a backyard can turn a home into a fun summer or year-round spot, but it\u2019s also a big financial decision.\u00a0\u00a0 Some Continue Reading →<\/span><\/a><\/p>\n","protected":false},"author":271,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[390,385,391,57,717,20,727,387,388],"tags":[],"class_list":["post-232042","post","type-post","status-publish","format-standard","hentry","category-dj","category-gomedia","category-internal","category-ips","category-maple-media","category-press-release","category-preview","category-si","category-vm"],"yoast_head":"\nWhat Homeowners Should Know Before Taking out a Pool Loan - Business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ipsnews.net\/business\/2025\/07\/12\/what-homeowners-should-know-before-taking-out-a-pool-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Homeowners Should Know Before Taking out a Pool Loan - 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