Installing a pool in your backyard is a great way to have fun and cool off in late spring and early summer. While this is true, swimming pools can prove to be a huge financial burden that can eat into cash flow substantially. Building an in-ground pool can cost $25,000 to $50,000 – The Wall Street Journal.
Therefore, it is crucial to do your homework before taking the plunge. Nonetheless, if you have thought long and hard about putting in a pool, consider these hidden costs that can bust your budget.
- Dirt Hauling – During the building of an in-ground swimming pool, a large hole must be dug. But where will all the dirt go? Well, the dirt can be spread out on the homeowner’s yard or hauled away to be legally disposed of (as with most cases). Dirt hauling can be very expensive (you may pay up to $900). Therefore, make sure you know beforehand if dirt hauling is included in the cost of the project.
- Retaining walls – Will the pool project necessitate a retaining wall? The answer to this question largely depends on the grade of your yard. In case your yard is fairly flat, you may forgo the additional expense of retaining walls. However, if it slopes, you can almost guarantee that the walls will be necessary. These walls provide structural support for the deck or pool and also diverts yard runoff. So, ensure that you get a set price on the wall before the project commences.
- Electrical – Pool builders are different; some will include the electrical hook-up cost to the project while others will invoice it separately. Expect to pay anywhere between $3500 and $4500 for a separate electrical job. Therefore, ask If the electrical costs are part of the pool package to avoid unnecessary frustration.
- Fencing – During the construction of a swimming pool, temporary fencing is required to ensure the safety of your family, visitors and construction workers. It is also a requirement that fencing is maintained for the life of the pool. Ensure that you put into account the fencing aspect of the pool during the planning stages to avoid wrecking your budget at a later stage.
- Extra concrete – Most often, homeowners forget about the concrete patios around their pools. If you want extra patio space, expect to pay more. The cost can increase significantly if the homeowner wants something fancier like custom tile work or travertine.
- Landscaping – Putting in an in-ground pool is a labor intensive process that requires the use of heavy equipment. Your beautiful landscaping can be damaged in the process. Be prepared for the costs associated with restoring a damaged landscape to avoid frustration.