Which loan should I choose to finance the construction of my swimming pool?

Having a pool at home is a dream for many owners, but it requires a significant budget. Indeed, between the price of the shell pool , the development work and the purchase of accessories, the investment can be substantial.

Fortunately, there are several financing options available. Selecting the right type of loan for your pool project is essential to borrowing with peace of mind and in full knowledge of the facts. Follow the guide!

How much does a shell pool cost?

To finance your shell pool project , it is essential to understand the expenses to be expected in order to avoid any unpleasant surprises. Less expensive than an in-ground (or semi-in-ground) concrete pool and more attractive than an above-ground pool, this type of pool remains a significant investment, which can reach several thousand euros.

Typically, the cost of a ready-to-dive shell pool varies depending on the size of the pool, the desired outdoor features, and the necessary accessories. At Aboral Piscines , our packages generally range from €12,000 to €35,000, including installation, making it an attractive option for those looking for a turnkey project with a controlled budget.

By taking these costs into account from the start, including earthworks , you will be able to set a realistic budget and choose the most appropriate financing to carry out your project with complete peace of mind.

How to finance your shell pool project?

Before you start building a shell pool , carefully examine the different financing options available to you. Building a pool is a significant investment, and choosing the right type of credit can make all the difference.

The different types of swimming pool credit

Consumer credit

The personal loan (works loan) is a form of consumer credit that offers some flexibility to finance your swimming pool . It comes in two main types: the assigned loan and the unassigned personal loan:

• The earmarked loan is specifically designed to finance a specific project, such as building your swimming pool. In this case, the funds are directly linked to the completion of the work, which means that supporting documents such as quotes or invoices will need to be provided to release the money. One of the key advantages of this credit is that if your project does not come to fruition, the loan is cancelled, thus avoiding having to repay for a project that has not been completed.
• The unsecured personal loan , on the other hand, gives you greater freedom to use the funds, without having to justify your expenses. However, this flexibility means that the loan repayment begins immediately, even if the pool project is delayed or canceled.

Another option, although less suitable for a project of this magnitude, is the revolving credit , also called "revolving". This is a reserve of money available at any time, which is replenished as repayments are made. Although practical for unforeseen events or small expenses, this type of credit is generally less recommended for financing a swimming pool , due to its often higher interest rates.

Can a swimming pool be included in a mortgage? 

It is possible to finance your pool by including it in your mortgage , provided that the latter is taken out at the time of the purchase of your property. This approach allows you to group the purchase of the property and the construction of the pool into a single loan. However, this is generally only applicable to in-ground or in-ground pools , as they are considered a permanent improvement, thus increasing the value of the property.

To include the cost of the pool in your mortgage , consider discussing it with your bank at the very beginning of the loan application process. This should be done before the loan agreement is finalized, because once it is granted, it is no longer possible to adjust the amount borrowed to include additional work.

How to build a solid case for financing your swimming pool?

Simulate the financing of your swimming pool

Before you start your pool project , it is essential to accurately assess the funds needed. Here are the steps to follow:

• Evaluate the overall cost of the project: Identify all the elements that will make up the final cost of your pool , including the purchase of equipment (pool, equipment, accessories), installation costs, and any landscaping work. An accurate estimate will allow you to determine the exact amount to borrow.
• Analyze your repayment capacity: Examine your financial situation to determine how much you can dedicate each month to repaying your loan. Take into account your income, your current expenses, and your other outstanding loans. It is also important to choose the loan term based on the amount of monthly payments you are able to support.
• Do an online loan simulation : Once you have determined the amount you need and the desired term, use an online loan simulator to explore different options. This will allow you to compare available loans, whether it is a personal loan or a loan for pool renovations . The simulation will provide you with an estimate of the monthly payments, the total cost of the loan, and the applicable interest rate.

Compare the different pool loan offers

After you have completed your simulation, it is time to compare the different financing solutions available. Here are the key points to consider:

• The APR (Annual Percentage Rate) : The APR is the main indicator to consider when comparing offers. It includes all the costs related to credit, including interest rates, application fees, and insurance. By comparing APRs, you get an overview of the total cost of each loan, allowing you to make an informed choice.
• The amount of monthly payments and the repayment period : The amount of monthly payments depends directly on the duration of the loan. For example, for a loan of €20,000:

• Over 60 months (5 years), the monthly payment will be approximately €350;
• Over 120 months (10 years), it will decrease to around €175;
• Over 180 months (15 years), the monthly payment could be around €120.

As you can see, a longer repayment term reduces the monthly payments, but increases the total cost of the credit due to the accumulated interest.

• Borrower insurance : For long-term loans, borrower insurance plays a crucial role. It covers your repayments in the event of incapacity for work, disability, or death. It is essential to carefully study the conditions of this insurance, because it offers additional protection, particularly important for long-term loans.

Want to get a quote for your pool project ? Contact our team of experts directly, they will be happy to contact you as soon as possible to offer you a custom pool that fits your desires and your budget!