Home Improvement Loan for a New Pool

Using a home improvement loan to purchase a swimming pool is well worth the price. Allocating the funds from a home improvement loan toward the construction of a pool is simple and provides an excellent return on investment.

Pool Financing and the Value of a Pool

In this housing market, a home improvement loan can help you stand out among sellers. Building a backyard pool with a home improvement loan is an excellent way to set your property apart. Many homebuyers dream of owning their own swimming pool where they can entertain their friends and family. With a home improvement loan, you can add this highly sought amenity and boost the value of your property.

Using a home improvement loan to build a swimming pool automatically increases the appeal of a seller's home. There are many styles that a homeowner can choose from when selecting a pool. A home improvement loan allows homeowners to afford wider options. The right design will dramatically increase the aesthetic value of the property. Additionally, a pool provides the benefit of immediate recreation. The ability to host backyard pool parties saves long trips to parks and recreation facilities. Whether the property is located in an urban, suburban or rural area, a backyard pool offers convenience that is simply unmatched. The fun of owning a pool makes it well worth it to apply for a home improvement loan.

A study by the National Association of Realtors confirmed that backyard swimming pools increase property values from 8% to 15%. And, it wasn't just homes in hot, sunny areas that benefited from having a pool. According to the study, property in cooler regions also saw an increase in value. In many cases, buyers see a pool as a must-have feature during the summer time. A seller will see a quick return on their investment when they take out a home improvement loan to build an outdoor pool.

A home improvement loan will allow you the flexibility to invest in a swimming pool. Financial institutions intend that a home improvement loan will fund repairs that increase the value of your home. Borrowers are free to use their home improvement loan for a variety of remodeling projects, including the construction of a new pool. After the lending institution approves the home improvement loan, the borrower is free to disperse the funds as he or she deems appropriate.

It's also easy to get a home improvement loan approved. To apply for a home improvement loan, the borrower simply needs acceptable credit and collateral. The borrower's house is usually sufficient for securing the home improvement loan. There are many plans that offer flexibility when repaying a home improvement loan. For smaller projects, it may be possible to pay off the home improvement loan in six months. If the swimming pool is a long-term investment, payments on the home improvement loan can be extended for over ten years.

After your home improvement loan is approved, you'll soon be on your way to owning your own swimming pool. A home improvement loan will help you increase the value of your property and attract buyers. Of course, while you're waiting to sell your home, you'll be the envy of your friends and neighbors.