How to Pay for a Pool

So, you’ve decided to put in a pool! That’s great, but now comes the not-so-fun part: figuring out how you’re going to pay for it!

In Springfield, IL and, really, all around the nation, swimming pools, especially nice ones, do not come cheap. Sure, there are some ways to cut costs, but ultimately, a pool is a big expense.

And, unless you just have the necessary cash lying around, you’re probably going to need financing of some kind. Luckily, there are lots of different options for financing your pool purchase!

Consider a Second Mortgage

A popular option for financing a pool is to apply for a second mortgage. However, bear in mind that these are not as easy to get as they once were. So, if you think you’ll want to take this route, apply for the mortgage first- before you make any concrete plans or downpayments. That way, you won’t get stuck in a situation where you have no way to pay for a pool project you’ve agreed to.

Also, keep in mind that most people who qualify for second mortgages have either lived in their home for a long time (at least 6 years) or have built up a lot of equity quickly. If you don’t meet this criteria or if you get turned down for a second mortgage, there are still other options.

Ask About In-House Financing

In-house financing is a bit of a misnomer when it comes to pool construction companies. Most of the companies that claim to offer this option don’t actually offer their own financing. Instead, they have a close relationship with a company that does and will refer you to them.

However, for many people, this is a viable way to find a financing company that can work with them and their situation.

These are just two of many options for getting the swimming pool of your dreams. You could also save up, try an unsecured loan, or take various other routes. No matter what, though, if you are really set on installing a pool, you can find a way to make it happen!