Part 1 of 2
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 is that if you are signing a contract with a reputable pool builder, the cost of your pool and your payment schedule should be clearly outlined—in writing—for you.
These written terms should include phased payments that dovetail with key construction phases such as excavation, gunite application, 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.
NEXT: Part 2 of 2 What happens when payments are late