A new pool can be a great investment that brings value to your Tampa home, but it is not a project you should dive into on a whim. It’s important to have a sound idea of what your budget is for your project and to communicate this to your contractor.
Here’s a quick look at pool construction budgeting:
Coming Up With Your Budget
When constructing your budget, you should consider the cost of the whole project. Your budget should include the cost of a pool deck and landscaping, for example. No matter how much money you put into a new pool, it will look bad if the rest of the project is incomplete. Sacrificing an added water feature for a pool deck is a worthwhile tradeoff, and should be factored into your project budget.
You should also evaluate how you will pay for the project. Many contractors seek payment when they meet pre-defined deliverables. But you should not count on future income as a method of future payment. If a family emergency arises, or you are laid off, you will no longer have money that you had previously budgeted for. This will cripple your project. Even if your contractor seeks payment throughout the duration of the project, your budget should still be entirely accounted for before the project begins.
Communicating With Your Contractor
You should be upfront with your contractor about your budget. Hiding your budget will only create problems down the road, with the worst-case scenario resulting in a pool that is incomplete. This is not desirable for you or the contractor. Being upfront about your contractor during the design stage will help them come up with a plan that meets your budget.
When working with pool construction budgeting, always leave yourself a buffer zone for unexpected costs. If your pool project is coming in at $20,000 make sure you budget an additional 5-10% to cover unexpected costs and expenses. By allowing for a buffer, you can rest assured that you will not be caught by surprise.