With as many as 4.1% of all American households owning a pool, the cost of pool maintenance is becoming increasingly important. Unlike in the 1980’s when only the 2% of wealthiest Americans were able to afford pools, nowadays, you don’t necessarily have to be filthy rich to build one at home. The cost of a plain vinyl pool can be well below the $10,000 mark, which is less than a third of the average cost of a new car in the U.S.
While pool building may not be as expensive as it used to be, maintenance costs are still incredibly high, and malfunctions are imminent. A minor malfunction could cost as little as $150-$200 when it comes to fiberglass lining, sand filters or pump motors, but may cost well over $1,000 if the component that requires replacing or fixing is the heater or the tube. A survey reveals that the average pool owner spends approximately $70 per month in maintenance while some pool owners (supposedly the ones who boast the more complex and expensive models) spend as much as $250 each month just on maintenance.
Due to high maintenance costs, home pools can still be categorized as a luxury item. It is definitely not a necessity and the costs incurred over years of owning a pool are significant and require a strong financial foundation. Based on a research that we have conducted, it appears like there is a strong correlation between the socioeconomic status of a certain area or neighborhood and the relative number of pools you can find there. The most pool-dense neighborhood in the U.S is Coral Springs, Florida, where you can find a considerable number of vacation houses owned by some very financially sound individuals.
Is there a way to mitigate the costs of owning a pool? There most certainly are, although it should be noted that building a home pool and maintaining it will always be an expensive endeavor for the average American.
One way to reduce the average maintenance costs is using home warranty companies. Some of the companies operating in this sector, such as THP (Total Home Protection) offer specific plans for pool owners. These plans guarantee to cover certain repairs or replacements in case you require them. It’s important to carefully view the terms and conditions before entering a Service Agreement with any provider, though, as the coverage is not full and the monthly subscription fee may be hefty.
Another way to make sure your pool-related expenses are minimized is to run periodic inspections of the pool components and be extra careful about following the manufacturer’s recommendations. The truth is that many of the repairs a pool requires could be avoided with proper maintenance.
Infographic source: Review Home Warranties