Installing a swimming pool, with a company like Dolphin Pools & Spas, can instantly transform your home into the hottest property on the block, as well as provide you and your family a private area to host parties, socialize, or just relax. In fact, in a few summery climates not having a swimming pool can harm your property values. Although pools are generally a sound real estate investment, they can bring with them some unexpected costs along the way. Read on to learn more about minimizing any extra costs associated with your swimming pool installation.
1) Check your homeowners insurance
When you purchase a pool, you'll need to amend your homeowners insurance to include pool coverage. Checking out your coverage before you've broken ground is a good way to give yourself some options and minimize future costs. While some insurance companies will add a surcharge to your policy after your pool is installed, there are measures you can take to reduce or even eliminate extra charges. These include:
- Building a fence or rail around your pool or making it accessible only through your home or a locked gate;
- Installing a safety pool cover, which can support the weight of several adults and prevent accidental drownings;
- Keeping life preservers within arms reach of the water; and
- Installing a pool alarm, which will emit a high-pitched sound if anyone enters the pool area.
2) Consider purchasing an umbrella insurance policy
Another insurance product that can help protect your personal assets from being subject to a lawsuit is umbrella insurance. This policy will help pay any legal fees and settlement costs or judgments awarded against you by an injured plaintiff. For example, if a guest runs into your home from the pool without drying off and slips on your kitchen floor, he or she may be able to sue you for liability even though they were demonstrating negligent behavior.
Because umbrella insurance covers only costs that aren't absorbed by your other insurance policies, it is generally available at a low cost and can provide peace of mind for any new pool owner.
3) Switch to a budget billing plan
If you live in a temperate climate, your pool will likely require little heating or cooling during its active months. Although the water can be a bit chilly when your pool is first opened, the sun's light will quickly heat it to a comfortable temperature. However, if you live in a cooler area and must heat your water in order to use your pool during early and late summer, you might want to contact your utility company to see if you can save money by switching to budget billing. This program will average out your annual utility costs into an even amount per month, rather than giving you a surprise during your pool's peak season.
4) Install solar powered devices
Your pool is uniquely suited to harness the sun's natural energy through solar power. Using a solar pool cover can reduce the water evaporation from your pool, helping you conserve your use of both water and electricity. During the winter months, you can make the switch to a more insulating cover to help keep any remaining heat inside and prevent the water in the pool from freezing. These pool covers can serve the additional purpose of shielding your water from leaves and other debris (reducing the load on your pool's filtering system and extending the life of the filter).
Taking some of the above steps before and during your pool installation will help you keep costs low as you become an official pool owner. And nothing will help increase your enjoyment of your new pool than knowing it won't ever break the bank.