For many clients who want a custom, luxury pool anywhere on their property, how to afford this custom pool is a key consideration. There are several robust options when it comes to how to afford a custom pool, and knowing your range of choices here can be quite valuable.
At JAL Pools, we’re proud to serve as the top builder of custom pools and luxury pools around Salt Lake City, Park City and other parts of Utah. Our custom pool builders are here to work with you every step of the way, including with important financing options if you require them. Here are some of your best choices when it comes to financing a custom pool of your dreams.
In-House Financing
When available, often one of the top choices for financing any custom pool is in-house options from the builder themselves. This involves working directly with our team at JAL Pools to arrange a payment plan that works for you, including monthly payments and various interest rates based on your budget.
There are several benefits to this approach, starting with its convenience – it’s often easier and faster than going through an outside lender or institution. In addition, there may be special promotions or deals available through in-house financing that can save you even more money overall.
At JAL Pools, we work with HFS Home Improvement Loans to bring you these special financing options. These programs require no equity or appraisal, plus no money down – and terms up to 20 years depending on your needs. We’ll be happy to walk you through all the details here.
HELOC (Home Equity Line of Credit)
In other cases, you may be able to tap into the equity you’ve built in your home or property through a HELOC, or home equity line of credit. This allows you to borrow against that equity and use it for projects like a custom pool.
One potential downside here: If you’re not careful about budgeting and managing this line of credit, it can put your overall financial health at risk. You’ll need strong discipline if going this route.
Cash-Out Refinance
Another similar option: A cash-out refinance, which involves replacing your existing mortgage with a new one that includes your pool financing. This approach can offer lower interest rates and terms than other options, but beware – it’s still adding to your overall loan amount and may come with upfront fees.
Personal Loans
There are also separate, unsecured personal loans available that don’t require any collateral. These can be a bit harder to come by and may carry higher interest rates, but they’re worth considering as well.
These are especially helpful if you have strong credit and are able to secure a favorable interest rate, potentially saving you money in the long run. Be sure to shop around with different lenders to find the best deal for your specific situation.
Pool Manufacturer Financing
While less common these days, some pool manufacturers may offer their own financing options for customers. This can be a convenient route to take, but be sure to carefully review the terms and interest rates before committing.
Credit Cards
There may also be some cases where financing your custom pool through a credit card makes sense – particularly if you have access to a 0% interest rate and can pay off the balance before that introductory period ends.
However, it’s important to be cautious here and make sure you’re not taking on more debt than you can handle. Depending on your credit limit and the cost of your custom pool, this may not be a viable option for everyone.
Which is Best For You
There will be several factors to consider when deciding which financing option is best for you and your custom pool project. These may include your credit score, current debt, the cost of the pool itself, and any specific terms or promotions available.
At JAL Pools, our team can help you navigate these choices and find the best fit for your unique situation. Whether it’s in-house financing or one of the other options we’ve listed here, we’ll work with you to make sure you’re able to afford the custom pool of your dreams without sacrificing financial stability. Contact us today to learn more about our luxury pools and how we can help bring them within reach for you, whether you’re in SLC, Park City or any nearby area of Utah.
