There is no secret that the economic downturn is in full swing. Credit is near impossible to get, particularly for home improvement projects. The credit problem started a couple of years ago with the pool industry. Builders were scrambling to find ways to finance sales and creditors were bailing out of the pool market left and right.
Prior to this credit crunch, the pool industry was experiencing record sales. Now, builders are in a pinch and trying everything they can to stay in business. Pool companies and offices are closing across the country.
What does all of this mean to you? You should not only be thinking about how you are going to pay for this but also if this is something that you should put off for the time being. From the looks of it, things are going to get worse before they get better.
The stability of the builders is in real question. Should you run for the hills? Not necessarily. There are still builders out there that will weather the storm. You are going to have to find out who they are. Being a big national company does not necessarily mean they are safe. If they close up shop in the middle of building your pool, you are going to be stuck.
Losing your job during construction could also be problematic. Imagine being in the middle of construction, having tons of money tied up in a pool and being unable to pay your next payment. The pool company is not a charity and you can guarantee that they will not be out to do work for free. That unfinished mess back there could be a financial strain.
Still thinking about a pool? Figure you can afford it and your bases are covered? If so, what does all of this mean? It means that you may have the advantage and this just might be a good time to buy a pool. The builders are in trouble, they need cash flow. This is particularly true in areas where winter has prohibited building for months now.
They will be running sales and the competition will be fierce. Play your cards right and you could make out with a really good deal.
If you see two companies that are strong competitors and they basically build very similar products, you should see competitive prices. If one is $15k less than the other for the same pool, look out. This is why it is important to see several prospective builders. That substantially lower price could be a low ball attempt to gain cash flow. Or, it could be more on the level and the higher priced one is a result of a salesman who is starving and needs a home run to pay the bills. Carefully screening through several companies can put these more in check. Do not be afraid to pit them against each other and beat them up. They are hungry for sales and going back to them with better prices can cause them to drop their drawers.
Prior to this credit crunch, the pool industry was experiencing record sales. Now, builders are in a pinch and trying everything they can to stay in business. Pool companies and offices are closing across the country.
What does all of this mean to you? You should not only be thinking about how you are going to pay for this but also if this is something that you should put off for the time being. From the looks of it, things are going to get worse before they get better.
The stability of the builders is in real question. Should you run for the hills? Not necessarily. There are still builders out there that will weather the storm. You are going to have to find out who they are. Being a big national company does not necessarily mean they are safe. If they close up shop in the middle of building your pool, you are going to be stuck.
Losing your job during construction could also be problematic. Imagine being in the middle of construction, having tons of money tied up in a pool and being unable to pay your next payment. The pool company is not a charity and you can guarantee that they will not be out to do work for free. That unfinished mess back there could be a financial strain.
Still thinking about a pool? Figure you can afford it and your bases are covered? If so, what does all of this mean? It means that you may have the advantage and this just might be a good time to buy a pool. The builders are in trouble, they need cash flow. This is particularly true in areas where winter has prohibited building for months now.
They will be running sales and the competition will be fierce. Play your cards right and you could make out with a really good deal.
If you see two companies that are strong competitors and they basically build very similar products, you should see competitive prices. If one is $15k less than the other for the same pool, look out. This is why it is important to see several prospective builders. That substantially lower price could be a low ball attempt to gain cash flow. Or, it could be more on the level and the higher priced one is a result of a salesman who is starving and needs a home run to pay the bills. Carefully screening through several companies can put these more in check. Do not be afraid to pit them against each other and beat them up. They are hungry for sales and going back to them with better prices can cause them to drop their drawers.
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