Consider these factors before building an inground pool on your property.
While the idea of having your own personal pool to enjoy sounds like a dream, it’s important to understand that this luxury comes at a considerable cost. In fact, average estimates for an inground pool range from $35,000-$60,000. To ensure that you are making a smart financial decision, consider these factors before building an inground pool on your property.
- Type of Pool
When it comes to building an inground pool, the type of liner you use is one of the major cost-determining factors. For instance, a pool with a vinyl liner will cost an average of $25,700; fiberglass liner will cost an average of $31,400; and a concrete or gunite liner will cost about $29,600-$50,000. Please keep in mind that these estimates are just for the liner. The cost of preparing the installation site and the other features you want to include in your pool with all drive up your price.
- Ongoing Maintenance Costs
The cost of maintaining your pool will vary depending on the type of pool that you have. General maintenance estimates say about $95 a month, which translates into over $1,000 a year. Ten-year estimated maintenance costs for a concrete pool are around $27,400, $3,750 for a fiberglass pool, and $11,500 for a vinyl pool.
- Other Costs
In addition to building and maintenance costs, there are other pool expenses to consider. For instance, homeowners need to consider how a pool will increase their homeowners insurance rates. Because pools increase a homeowner’s risk for property damage and personal liability issues, they will need to pay more for coverage or increase their coverage limits. When you install a pool, you will also experience increased energy costs. This is because it takes a considerable amount of power to heat your pool, run the pumps, run the filters, and so on.
Consider these factors before building an inground pool on your property. Curious to see how installing a pool will affect your home insurance costs? If so, then contact the experts at 01 Insurance in Astoria, New York. Our dedicated team is eager to assist you with all your home coverage needs today.