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How Much Should You Spend On A Swimming Pool?

How Much Should You Spend On A Swimming Pool?

Most of us dream of having a beautiful swimming pool across our home. But it is not just about our luxurious desire. Swimming pools can genuinely be advantageous for our health. Studies have consistently shown that swimming improves our ability to lose weight, promote flexibility and stretch muscles. As such, it makes for a helpful workout among all others. Sources also suggest that an hour of intensive swimming can help burn up to 700 calories. Surprisingly, it is relatively more than what we burn during other exercises, mainly walking and biking. 

Over the years, swimming has also helped people to maintain good mental health. It promotes calmness, a sense of general happiness and immense satisfaction. All of these things make for a compelling reason to spend an adequate amount on a swimming pool. This article is going to be all about that.

Before we move ahead, please visit this page for relevant information about swimming pools. You are bound to love them. 

How To Calculate The Overall Cost?

Before you want to build yourself a pool, remember that it does not come at an affordable price. One is bound to spend a fortune on it. But with the proper guidance and knowledge about budgeting, one can make it cost-effective for themselves. 

1. Installation And Maintenance Costs

Generally, a primary pool costs anything between $25,000 to $30,000. But this one comes without any amenities. But if you want to build yourself an above-ground pool, it may be available at a more cost-effective price. Generally, it may cost anything between $6000 to $8000. But the installation is not the end game. You may also have to deal with monthly maintenance costs that may go up to $100 to $150. 

2. Potential Liabilities

Law believes that anyone who builds themself a swimming pool is liable to anyone who uses it. This is irrespective of whether they seek permission for that or not. It is mainly believed that swimming pools attract many children. However, it may also pose a severe threat to their well-being. As such, the pool owner must be responsible for any mishap that relates to the pool. That is why it is wise to go for homeowners insurance that may help cover the replacement of your pool. But that is not all. It may also help cover any death, injury or damage up to a maximum amount. Typically, the amount is $100,000. 

3. Income Tax Deductibility

In many cases, you can try and deduct the cost of your private swimming pool by contemplating it as a medical expense. However, it is improbable that you will receive such a deduction. That is why you need to observe the following points to find out if such a reduction is available for you.

  1. A general tax deduction may be used as a medical expense. But you have to itemize your deduction by applying Schedule A of the 1080 Tax Filing Form. 
  2. If your cost exceeds 10% of the gross income, your medical expenses can be deductible. Also, you must show them that your physician has recommended the pool for medical reasons. 
  3. Before deduction, ensure that all types of addition in your property’s market value concerning the pool are subtracted from the expense. 
  4. The likelihood of an IRS Audit is to be triggered by the deduction of the pool. In any case, you have to showcase the evidence that the pool is created for medical reasons and is used explicitly by the individual in need.

Fortunately, if you can receive your medical deduction for the swimming pool, you may also be able to deduct the operation costs. So, you can cut down on the chemicals, cleaning services and electricity. 

 How Much Should You Spend On A Swimming Pool?

Things To Consider While Building A Swimming Pool

1. Is There Enough Space?

Generally, your open yard space must be equivalent to the size of your pool. So if your yard is has a 40* 20-foot pool, then it should have at least 800 square feet of decks, patios and walkways. If you wish to use the pool for any recreation exercise, you have to consider the sizes again. If you want to indulge in lap swimming, a minimum size of 30*60 feet for an individual swimmer is crucial to consider. 

2. Is Your Neighbourhood Suitable For It?

If your dream is to build an in-ground swimming pool in the yard of a well-built neighborhood, then you have to pay a fortune for constructing it. This may include the case of open access. During the construction and installation period, all the fences, gates and other barriers may be removed and stored somewhere else in a well-built neighbourhood. 

3. How Many Days Will You Use A Pool?

To be precise, if you do not have the budget to build an indoor swimming pool, it is wise to ditch the idea of making it. Also, if it will have more downtime than usable time, there is no point in spending a fortune on it. Ultimately it is just going to be a waste of money. Also, it is wise to consider where you live. Naturally, for those who live in cold places or those with large numbers of rainy days, people here are less likely to use a pool regularly. So it is only ideal if you live in Texas, California, Arizona or Florida. 

4. How Old Are Your Children?

It would help if you remembered that children and teenagers are more likely to use the pool than others from different age groups. Do not forget to consider how old your children are so that you can get a pool built accordingly. Since the pool is also likely to offer health benefits, you must consider how many children you have and create a pool. 

The Bottom Line

Building a swimming pool can be a hard day’s task. It may also make you tired quickly if you do not have access to the correct information on building a pool on a budget. But, if you get the hang of it once, you are highly likely to develop your pool not only at an affordable rate but also at the earliest. So why keep waiting?