Our Blog | Advice on In Ground Swimming Pool Construction and Maintenance

When it comes to building a new pool, it’s the subject that can be a bit touchy: Money.

However, it’s a topic that’s better dealt with up front so everyone knows what to expect.
The good news here at Parrot Bay Pools is that you are entering into an Agreement with a reputable pool builder, the cost of your pool and your payment schedule should be clearly outlined—in writing—for you.  You may also ask to "review" our Agreement before placing your signature on the bottom line.
These written terms should include phased payments that dovetail with key construction phases such as excavation, gunite application, tile and plaster. 
Typically, there will be a down payment, and several additional payments throughout the construction process. The total number of payments will vary in accordance with any applicable state regulations.

You should also receive details on acceptable methods of payment, to whom checks should be made out, and to which individuals you should give the payments.  

Be wary of anyone from your pool company or of any subcontractor who asks for a cash payment. Sometimes, they will use a ploy, such as telling you a cash payment will enable them to give you a discount.
If your pool is financed, be sure you understand how the payments will work.  If the checks are from a lender, be sure all required parties endorse the check.
Prompt payments are vital to your construction timeline. They will help your builder achieve smooth scheduling and coordination of related logistics, such as ordering materials.  And when everything goes as planned, it’s a win-win for everyone.  

As an experienced pool builder we know that the process of obtaining funding for your back-yard project can be a daunting task these days to say the least.  It’s almost a necessity for one to “qualify” for funding if you plan to finance your project BEFORE you begin to do all the planning and processes necessary for design and cost estimates. You don't want to plan your project in detail only to find out you can not obtain enough funding to do the project in the proper manner.  We highly encourage our potential customers to look into financing if they are serious about building a swimming pool and starting the planning and design process. 

The application process is free and the customer does not have to commit to financing until they OK any loan papers. Once the application is submitted the loan process can begin. The minimum amount of time for the home equity loan or line process is 7 business days. On an unsecured loan two business days maximum.

Most decline loan applications are turned down due to high debt, high revolving debt or low home value. Having our lender personally working on pool financing gives the customer other options than a decline. Also; if a customer has a certain budget that they need to stay within to afford the project a banker can work with them to get the loan term or rate comparable to the customers’ ideal monthly payment.

Our lender can offer competitive rates on home equity loans, home equity lines of credit, unsecured home improvement loans and personal lines of credit. 

Home equity loans do not have a payment until the money is used and there are no prepayment penalties.  If someone does not have enough equity in their home to secure a project loan a banker will be able to offer an “unsecured” product or line of credit.

Some of our customers have taken advantage of financing two loans, a home equity and an unsecured to be able to finance the exact amount or monthly payment that they need.

Consolidation of existing debt can also be accomplished sometimes as well.  With rates as low as they are now, this is a viable option for some potential clients.  It’s always best to just apply and see where one stands and the options you may be qualified for your project.

As a member of the Blue Haven Pools network of builders, we offer financing through that organization. You can view the application here.