Which loan should I take out to build my pool?

Would you like to install a swimming pool in your garden to make the most of sunny days? A project of this kind presupposes work of varying degrees of importance, for whichfinancing must be anticipated. So, what are the different types of credit available to finance your swimming pool?

The different types of credit for financing a swimming pool

The budget for buying andinstalling a swimming pool can rise quite quickly. For the simplest, above-ground models, you’ll need to budget between 1,000 and 5,000 euros. If you opt for an in-ground structure with kit, shell or custom-built systems, initial budgets are around 5,000 euros.
To finance such a project, several types of credit can be taken out:
– Consumer credit
– Affected credit

Which to choose and why?

Taking out a consumer credit to finance a swimming pool is a first possibility. This type of credit allows you to borrow up to 75,000 euros. Make sure you understand your credit before committing yourself: consumer credit can take many forms, including personal loans and revolving credit. A consumer credit is ideal for a pool loan, since the money can be used freely.
Affected credit is entirely dedicated to the purchase of the pool and its accessories. To finance a swimming pool, you’ll need to take out a construction loan, which is used for property renovation or refurbishment. Since it is earmarked for a single project, in this case your swimming pool, we can speak of a swimming pool loan.

The advantages and disadvantages of pool loans

To sum up, swimming pool loans have their advantages and disadvantages, and it’s important to take them into account right from the start of your project.
The main advantage is of course the insurance that comes with the credit. If you have the slightest problem with this project, and have to abandon or postpone it, the same will happen to your credit, which will simply be cancelled.
However, this advantage also has a negative side, which some will perceive as a real drawback. As it is earmarked, this credit can only be used for the purchase and installation of your swimming pool. This means you won’t have the freedom to include the cost of refreshing the terrace in the amount borrowed.

Pitfalls to avoid

As with any other credit, be careful when choosing your pool credit. Take advantage of the competition by contacting several banking and credit institutions. Read the terms and conditions carefully: for example, will you be able to make early repayment without penalty? Finally, arm yourself with patience and remember: these few moments of attention are well worth future years by your pool!