Swimming Pool Remodeling
Why Removing Your Pool Will Cost You Thousands in Upfront Costs And Lost Revenue
As the United States economy looks at the prospect of another recession by the end of 2022 and beginning of 2023, many homeowners will begin to hunker down on discretionary spending (US News). For many, this will mean their pool is the first on the chopping block of cutting costs. In the interim of a recession, the idea of putting money into an existing pool seems ill-advised to homeowners feeling the uncomfortable strain of tightening finances; however, there are many factors to take into account when making the decision: to fill or not to fill?
An outdated, unkempt pool can not only be a money pit and an eye sore, it can also be a potential danger to current and future residents of the home. For these reasons, for the past five years 44% of people have been more likely to look into removing or filling their swimming pool rather than remodeling it (Google Trends). What they may find along the way is that the seemingly simple solution can become a convoluted, financially taxing mess.
River Pools and Spas points out that filling a pool creates downsides to the future of your backyard, such as the inability to build or place any new structures in the area the pool once sat due to structural red-flags. This band aid solution must be disclosed to future buyers as well, because of the risks and restrictions it causes, potentially lowering the value and appeal of your home. So, although this is the cheapest option, running homeowners on average $2,000-$10,000, it leaves you in a bind and drastically reduces what you are able to do with your home in the future (Home Guide).
The next option homeowners who are at their wits and pockets end look into as a solution would be a full removal of the pool. This is by far the most expensive method, averaging $4,000-$16,000 using the figures available from Home Guide. Although this option removes the pit-falls of simply filling in your pool, a full removal including a back-fill will require more money and time. A full removal involves engineering, permitting, and the use of specialized heavy-duty equipment. Both filling and removing a pool can undermine the potential of increased value to buyers as well as decreasing equity and value to the current homeowners. The cost and time involved in these efforts to erase an existing structure could be better spent on remodeling.
Most may not think of remodeling their pool as being the most cost-effective option, but between the increase in home value and the decrease in cost of maintenance this is the best option. Remodeling an existing pool costs on average $5,000-14,000, a shockingly smaller cost than what many people think it would be, and not any more expensive than the removal options (Home Advisor). The benefits of remodeling are countless, increasing the value of the home by at least 5-8% is one of the most attractive of the bunch (HGTV). Having an outdated or an unmaintained pool can be expensive; between constant repairs, water leaks, and the decrease in value from an outdated design. With a remodel all these issues can be solved. Not only will you have a more fitting feature as part of your home, but with modernity comes savings.
Replacing outdated equipment such as single-speed pool pumps, halogen lighting, and under performing filtration will cut the cost of pool maintenance and energy costs by thousands of dollars. New pool equipment pays for itself within the first year of purchase with energy and maintenance savings alone. Simply switching from a single speed pump to a new high efficiency, variable speed pump can decrease your yearly bill from $4,000 to as little as $300; this change alone can cover the cost discrepancy between removal and remodeling (Gardner). Another step is resurfacing the pool, although this can be the most expensive phase of the process, but this is one of the steps that can result in the most savings long-term. An old surface finish can crack and cause leaks that will be expensive and inconvenient to patch. Resurfacing the traditional white plaster with a pebble finish is not only more modern and appealing, but also takes the life of the interior from an expectant 8-10 years to an expectant 25 year replacement timeline (Gardner).
If your pool is on the list of things to be cut when looking at your options to reduce financial stress within the home, consider a remodel instead of a removal. Times are stressful enough as it is, don’t get rid of an outlet and an oasis through hasty decisions that will cost you more money and freedom in the long term. Remodel your pool today with Build Your Own Pool and Wholesale Pool Equipment.