Expenses Related to Pools: Installation and Upkeep

Installing an in-ground pool can be quite the financial burden. Installation costs will run you into the tens of thousands and that is just the beginning. Maintenance, tax implications and insurance need to be taken into account as well.

And then there is the fact that installing a pool will not necessarily increase your home’s resale value either. A pool, while attractive to some, will narrow your potential housing market when you decide it is time to sell your current home. Some buyers will be put off by the upkeep and safety concerns that go hand-in-hand with pool ownership.

But this is not meant to dissuade you from installing a pool. If you want the ultimate backyard entertainment venue, nothing works quite as well a pool. We just want you to be aware that installing a new pool is a big financial responsibility.

This article from HouseLogic.com outlines the costs associated with a new pool.

The average cost to install, equip and fill a 600-square-foot concrete pool starts at $30,000. That does not even include aesthetic details like waterfalls, landscaping, pool lighting, etc. You can opt for a cheaper building material, but concrete is by far the most durable option available. Fiberglass shells and those with vinyl liners fall on the lower end of the budget scale, but the liners typically need replacing every 10 or so years. So it comes down to whether you want to spend the extra money during installation or 10 years down the road on repairs?

Then, once your new pool is installed, you have to think about your energy bill.

The filtration system is the biggest energy hog in any pool system. Fortunately, there are energy-efficient pumps available, like variable-speed pumps that use 80% less energy than traditional systems. A variable-speed system will cost you more up front, but will save you money in the long run. You can further cut energy costs by setting the pump to run at non-peak times, when rates for electricity are lower.

Another energy hog is your pool, gas heater. While pool heaters are optional, they will drastically extend your swim season. These are cheap to install, but have very high operation and maintenance costs. Many pool owners opt instead for electric heat pumps, which extract heat from the surrounding air and transfer it to the water. Heat pumps take longer than gas to warm the pool, but they’re more energy-efficient, costing $200 to $400 less to operate per swimming season.

No matter what pool heating system (if any) you choose, covering your pool with a solar blanket to trap heat and reduce evaporation will help lower operating costs.

Then there is ongoing maintenance costs.

In a seasonal swimming climate, budget about $600 annually for maintenance if you shoulder the chemical balancing and cleaning yourself; in a year-round climate, it’s more like $15 to $25 per week.  In locations where the pool must be opened and closed for the season, add another $500 each time for a pro to handle this task.

And then there is insurance and taxes.

While basic homeowners policies cover pool structures, it is still a very good idea to add additional liability coverage. This will cost about $30 a year to bump coverage from $100,000 to $500,000.

Then, in some areas, adding a pool may increase your annual property taxes. This is why you should try to keep your total building cost between 10% and 15% of what you paid for your house, because, as we stated before, a pool will not increase your home’s resale value.

If you want to add value to your home, go with a boring kitchen or bathroom remodel, instead. But if you want to add a fun entertainment element to your home, a new pool is the only way to go.

If you have any questions, contact Sunrise Premiere Pool Builders LLC. By calling 410-349-3852 or clicking here today!

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This entry was posted on Tuesday, August 30th, 2011 at 8:23 pm. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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