At Central Florida Homes and Pools, we know that deciding to build a pool is a big deal. High interest rates might make you hesitate, but we’re here to show you why building your pool now could be the smarter move. Let’s look at the real numbers and see how you can make the best choice for your family and investment.
Let’s Look at the History: Construction costs are always on the rise. Here’s a quick snapshot of how pool and screen enclosure prices have changed over the years:
- 2000: $31,000
- 2010: $52,000
- 2020: $77,000
- 2024: $97,000
As you can see, waiting can mean paying a lot more in the future. If you hold off until interest rates drop, you might end up spending more because of the increasing construction costs.
Let’s break it down with a $100,000 project financed over 20 years with a Home Equity Line of Credit (HELOC):
Cost of Pool in 2024
- Interest Rate: 8%
- Monthly Payment: $836.44
- Interest Rate: 9%
- Monthly Payment: $899.72
- Interest Rate: 10%
- Monthly Payment: $965.72
Cost of Pool in 2025 (Assuming a 14% Increase)
- Interest Rate: 8%
- Monthly Payment: $935.54
- Interest Rate: 9%
- Monthly Payment: $1,025.69
- Interest Rate: 10%
- Monthly Payment: $1,100.12
Cost of Pool in 2026 (Assuming a 14% Increase)
- Interest Rate: 8%
- Monthly Payment: $1,087.04
- Interest Rate: 9%
- Monthly Payment: $1,169.28
- Interest Rate: 10%
- Monthly Payment: $1,254.14
So even if interest rates go down a bit, the rising costs of construction can still mean higher monthly payments. For example, if interest rates drop to 8% next year but pool prices go up by 10%, your monthly payment could increase from $899.72 to $920.08.
Take the Plunge Today!
By building your pool now, you can lock in today’s prices and avoid higher costs in the future. Our friendly and experienced team at Central Florida Homes and Pools is here to help you navigate the numbers and create a plan that fits your budget.
Contact us today to start planning your dream pool. We’re here to make the process easy and fun, ensuring you get the best value for your investment.
The information provided is for informational purposes only and is not intended to be personal financial advice.
