Tulsa custom swimming pools and spas Tulsa have become hugely popular over the last few years. Unfortunately, installing a new swimming pool can be an expensive project. Most run into the tens of thousands of dollars (and that’s before you include the spa features). There are a dozen different costs and fees you need to factor in when budgeting for a custom pool. So, how can you budget for your custom swimming pool and spa?
Know your Sums
Let’s be honest, swimming pools are expensive features, regardless of the size, shape, or finish. It is one major expense that can be difficult to pay for outright. So, it is essential to do your homework over what you can afford to spend and what needs to be financed. For example, you have around $10,000 in the bank. It’s likely the pool will cost considerably over, at least $50,000 for a customized pool. You need to ensure you can secure funding for the rest of the costs.
For instance, you need to request a loan from a bank or other lender. However, these costs must also be factored into the budget, otherwise the amount can spiral. It is essential to work out the sums so that you can create a suitable budget. This will also ensure you have sufficient funding in place before you attempt to start the project.
Consider the Size and Shape of the Pool
One of the most important elements of creating a budget is the shape and size of the pool. Remember, costs increase the bigger the pool you choose. So, if you plan to buy a larger swimming pool, you’ll find the costs to be incredibly higher than with a smaller pool. Even if you’re happy to choose a smaller pool, you can still add other features later, when finance isn’t an issue. The shape of the pool will also play a huge role in fees. For instance, a standard square or rectangular pool won’t increase the costs too much.
On the other hand, a round or uniquely shaped will increase costs. So, when you are trying to budget for Tulsa custom swimming pools and spas, choose your shape and size carefully. For example, if you didn’t want to spend over a certain limit, you should set your budget at a lower amount. This gives you ample room to move without stretching the finances too far.
Factor In Upfront Fees
As said, Tulsa custom swimming pools and spas Tulsa can cost a lot of money; however, costs can spiral if you don’t incorporate upfront fees into the bargain. Remember, buying a totally customized pool and spa will run up initial costs, as much as project costs. For instance, you need to pay for materials, delivery, installation, and excavation upfront. Those things aren’t often thought about when creating a budget; unfortunately, that can cause you to lose out of cash in no time.
Instead, you need to carefully consider what fees you need to pay for upfront, as well as the unexpected costs later. Some contractors might need to do additional work, such as fencing, to finish the pool area. This is, again, a cost you didn’t factor in. So, it is essential to set a portion of your budget towards the upfront fees and have another set aside for unexpected building costs.
Know What Water Features You Want
It’s easy enough to go out and purchase a dozen different water features to install with the new pool. Unfortunately, buying without thinking can be the simplest way to overstretch your budget. When you are budgeting for a custom swimming pool, you need to think about what added features you want to install. For instance, you want a fountain feature, jet stream, and cascade features. Unfortunately, your budget – at this moment – does cater for all these things. Instead, pick out one main feature so that you don’t have to borrow any more money than necessary. You can always install other features later when your finance permits it.
You Must Set a Limit
How much money can you logically afford to spend on this project? Remember, a custom swimming pool can cost over $60,000 and that is a lot of money to finance. You need to set a limit that is affordable and practical for the next five years. For example, you have $15,000 saved to put towards a customized swimming pool and spa. You’ve looked for a dozen quotes and the average costs are around $65,000 for the pool you want. So, that means you need to borrow $50,000 to cover all costs. That is a huge chunk of finance, and it’ll take at least 5-to-7 years to pay back.
It’s a big investment, to say the least. Are you happy to have this debt hanging over you for several years? Sometimes, it isn’t viable for the long-term, and that means you must adjust your budget accordingly. Fortunately, you can get beautiful Tulsa custom swimming pools and spas for a lot less than $65,000. Sometimes, you need to limit how much you are willing to spend on the pool. This means choosing a smaller size or opting for a square instead of a kidney-shaped pool. You can still have a custom pool even with a smaller budget.
Be Smart (and Realistic) with Your Budget
You’d love to spend tens of thousands of dollars without even a second thought, but that is not always logical, especially when you struggle to secure adequate finance. Instead, you need to be realistic over what you can spend on a new pool and spa. You can still have a custom pool; however, you might need to cut back in some areas. For instance, keep to one water feature instead of seven and choose a smaller pool. That is how you get a custom pool that works for your home.
Enjoy Your Swimming Pool and Spa
Creating a budget for a customized swimming pool and spa isn’t easy. You must consider the upfront costs, along with maintenance, and other such things. Then, there is securing the finance that must be factored in also. However, costs can spiral quickly if you don’t have a suitable budget in place. Once you know a few things about budgeting, it can be a lot easier to do. Tulsa custom swimming pools and spas can be affordable and fine when you budget appropriately.