Investing in a new fiberglass pool can mark the beginning of a lifetime of family fun, friendly get-togethers, birthday bashes and barbecues. When considering your dream pool, think about your budget and explore the different avenues you can take to finance your pool purchase. Here is a guide to help you understand and obtain the best swimming pool financing.

1. THINK LONG TERM
When you purchased your home, you likely financed your purchase with a long term mortgage. Your new fiberglass pool can be financed the same way. Most lenders classify a new pool as a permanent improvement to your property that is very likely to increase the property value. In fact, many lenders will “add back” half the cost of your pool project to the appraised value of the home. In most cases, they are willing to finance your pool for up to 15 years. Because you can finance your pool over a longer period than a car, your monthly payments are much, much lower. This means you might be able to get a bigger pool or add more options than you have currently considered.

2. TAX ADVANTAGES
Home improvement loans are secured by your property. In most cases the interest will be tax deductible. Who among us can’t use a few more deductions? It is always best to consult with your accountant or tax advisor if you wish to confirm the deductions.

3. FINDING THE RIGHT LENDER
Many lending sources are available to finance a swimming pool. These lenders are very familiar with pools, work on providing quick approvals and offer programs that work best to fulfill your family’s particular needs. Many of these lenders do not require appraisals. Most of them will determine your property value by the purchase price or by a recent tax assessment. If an appraisal is required, typically the lender will pay for it.

Home improvement loans typically require you to have 10-20% equity in the property. On occasion a down payment from you will off-set any equity shortcomings. This type of lending does not require pre-payment penalties. Some lenders will “add back” up to 50% of the cost of the pool to increase your equity. There are lenders that will provide unsecured loans as well. Of course, without the security of your property, the loan is strictly credit-driven. You must have very good credit and expect to pay a little higher interest rate than on a secured loan. Most unsecured lenders do not charge a pre-payment penalty.

While every pool buyer’s situation is unique, every pool installation is also unique. Some folks want short term loans; others want longer term loans with lower monthly payments. Some pool buyers want to finance only the pool, while others want to also include fencing and landscaping. A good swimming pool contractor should be able to help you find a lender to suit your needs.

 

 

Each American Fiberglass Pools is manufactured under rigid quality-controlled conditions. Starting with 40 mils of gel coat, the thickest in the industry, we are the originators of the use of vinyl ester resin on swimming pools in the United States, first doing so in 1977, and the unique 5-ply fiberglass stitch mat process. American Fiberglass Pools does not use fillers or cores in the manufacturing process of its pools that may diminish the strength or structural integrity of a pools shell. The use of only the latest technologies assures our customers of a lifetime of worry-free fiberglass pools ownership.

More than 75 years ago, people began building swimming pools of concrete. However, on the mid-1950?s fiberglass was introduced to the industry and a quiet revolution began. That revolution has especially taken hold in Europe and the Carribean where 70% of all residential pools are fiberglass. Fiberglass pools offer numerous advantages over old-fashioned concrete pools and does not have the many durability questions typically associated with vinyl liners. With vinyl-ester and ceramic blended resins, manufacturers have eliminated all surface and structural problems that may occur due to materials used or manufacturing methods. The surface of a fiberglass pool is satin smooth, not rough and abrasive. The fiberglass composite is an inert material, which will not affect water chemistry and prohibits algae penetration. Fiberglass simplifies maintenance on average 80% more than old fashion concrete pools.

Most quality fiberglass pools cost an average of 10 to 12 percent more than concrete pools. However, American Fiberglass Pools by design insures a comparable price by eliminating most of the subcontractors and performing the work in-house, thus saving the buyer from paying for several subcontractor’s overhead and profit.
Choosing a Fiberglass Pool is a solid investment in your property with long lasting durability. American Fiberglass Pools now offers high-definition, gel coat surfaces that create a unique look that no other pool offers with the benefits of a non-porous surface. See your local American Fiberglass Pool Dealer to take a look at the many beautiful, high-definition colors available.