There are only a few places in the country that have weather that permits using an outdoor swimming pool year-round without heating the water or having a pool enclosure. While heating the pool is always an option, it doesn't take into consideration sitting around the pool or getting in and out. You will still be cold once out of the water. A pool enclosure can be used to provide an area similar to what you use in the warmer months. You can have one large enough to sit around the pool and have a cookout if you wish. Of course, an enclosure is going to be expensive. Luckily, you have a few options to finance the project without having to save for years or depleting your current savings.
Home Equity Loan
If you have been living in your house for more than just a couple of years, you have built up some equity. This could be enough to pay for the pool enclosure. It would require you obtaining a home equity loan or refinancing the whole loan if the property appraises well enough. You may even be able to get a better interest rate and lower your monthly payments.
You may want to talk to the institution that holds your mortgage about a loan specifically for a pool enclosure. They already have experience working with you and may be willing to provide the funds. If your mortgage holder strictly provides mortgage loans, you can talk with your bank or credit union about an unsecured, personal loan. This will require a very good credit rating and probably have a higher interest rate but you won't have to come up with collateral.
When you don't have the equity or the credit rating to obtain an unsecured loan, you can probably find a company that will give you a secured loan. This will require you have some type of collateral to back the loan. Quite often, the collateral will involve a lien against your home. If you ever sell the home, the lien will be paid before you receive any money from the sale. If there is not enough to pay the lien, you will be liable for the balance. The loan company will take you to court for the balance and you may have to sell possessions to pay it all. However, the interest rate on a secured loan is going to be lower, and the payments easier to manage than a secured loan. Just be sure to make the payments and there won't be a problem.
An enclosed pool provides your family with a wonderful outdoor activity area regardless of the weather. It also protects you from someone falling into the pool and suing you. If you plan on staying in your home for a long time, talk with a pool enclosure company and start looking for financing. A company, like Harmon's Services LLC, may be able to help. The whole family will be glad you did.