Purchasing a backyard spa is a fraction of the cost of owning a full sized pool. Read on to understand the breakdown of the costs.
The cost to purchase and install a pool can range anywhere from $6,000-$100,000 and up, with the average pool coming in at $22,000. Above ground pools typically cost less than inground pools. On top of that, you will have to purchase pumps, filters, ladders, diving boards, etc. There are also three types of pools, vinyl (the least expensive), fiberglass (the step up in both quality and price), and then concrete pools.
On the other hand, it costs anywhere from $3,000 to $15,000 to install a hot tub, depending on the brand and quality. You should expect to pay at least $5,000 for a good quality spa.
Every month, the average pool owner pays about $80-$100 per month maintaining their pool between the chemicals and other materials. They also will need to take care of any repairs that crop up, such as broken filters or heaters, pool cleaning services, torn or broken parts, etc. It is estimated that over ten years of ownership, a Fiberglass pool will cost about $3,750, a vinyl liner pool $11,500 (as the liner will need to be replaced at least once), and concrete pool $27,400. If a pool owner does not properly take care of their pool, those costs will be even higher.
The cost to maintain the chemicals of a spa will cost about $50/month. Most hot tub filters have to be replaced about every 4-6 months or so and will cost about $45. After a few years or so, it may be necessary to do repairs on the computer board, pipes, pumps, etc.
The monthly electrical costs to run the pumps and filters for a pool can range from $30-$300. If the pool is heated, that will add $75-$250 per month. Electricity on a spa can cost anywhere from $10-$100 to run, depending on how often you use it, the quality of the spa (lower quality spas cost more on average), and what temperature you heat it to. Most hot tub owners pay about $50 per month.
Owning a pool or hot tub will raise your insurance as you now have what is called an “attractive nuisance” in your yard. The cost that it increases will be different depending on what your current policy is and what insurance company you currently use. Of course, if your pool or hot tub is tucked away out of sight, or if there is a fence surrounding your pool, you will end up paying a little less. Expect to add at least $50 to your premium.