Kids swimming in inground pool © Dasha Petrenko/Shutterstock.com

Before your temptation to install an in-ground pool on your own property turns into reality, consider all the associated costs of doing so. In addition to installing the pool, you also need to think about the cost of maintaining it.

If you decide to dive in, design your in-ground pool wisely. Pick a location in your yard with plenty of natural light and convenient access.

Additionally, homeowners must research local laws regarding building codes and safety standards, which might specify a type of fence, locks, and other safety equipment you need to have on hand.

Installation costs

The average cost of installing an in-ground pool runs around $39,000.

Although this may sound shocking at first, consider all the work that goes into this project. After all, installing an above ground pool requires little more than flattening the area and removing grass and weeds.

For in-ground pools, the process is more complex. Some of the main factors that determine the price of the installation include:

  • Excavation: Digging a large hole in the ground eats up a big portion of the budget because of the complexity of the work.
  • Pool materials: Vinyl liners are the least expensive option, costing approximately $25,700, while fiberglass averages $31,400, and concrete can cost up to $50,000.
  • Accessories: Pumps, ladders, filters, pool fencing, solar heaters, cleaning tools, brushes, covers, and chemicals all add to the final price tag.

The size and shape of the pool, cost of hiring contractors and any landscaping required to finish the job all add to the cost. If you want a heater, diving board, or a waterslide, these also cost extra.

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Maintenance costs

The costs don’t stop once you pay for the installation and start-up of your new in-ground swimming pool.

Maintaining the pool requires constant or seasonal upkeep with chemicals such as chlorine, shock, and algaecide. You also need to make periodic repairs and replace equipment such as filters, hoses, and vacuums as they wear out.

On average, homeowners spend between $78 and $302 per month on pool maintenance, with added costs for opening and closing the swimming pool, which requires specialized chemicals.

What about electricity?

The actual cost of running an in-ground pool varies depending on how much you pay with your provider. Most residential pools use around 7 kilowatt hours per day to run the pool’s filter. Pools typically use 30% of a home’s energy, which translates to average annual costs that range from $300 to $1,250.

Homeowners insurance

As delightful as a swimming pool can be, owning one can cost you more when you sign up for homeowners insurance. Most insurance carriers view pools as a liability and charge more to cover homes with pools. Although the average extra fee runs around $50, this could vary depending on your carrier.

Additionally, if you want to have your in-ground pool covered for replacement cost, expect your annual premiums to go up. Before you start digging, call your insurance company and get the scoop on how much extra a pool costs, along with the details of any extra coverage you might need to purchase.

Does a pool add value to a home?

Above ground pools don’t necessarily add value to a home, but many homeowners believe that installing an in-ground swimming pool adds value to their property. In warm climates such as Hawaii, California, Florida or Arizona, you may recoup some of the money you pay to have a pool installed.

Even so, in most areas, swimming pools don’t add a great deal of value. In fact, some homebuyers turn down properties with pools, especially families with young children.

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