Just digging out a hole in the soil and letting it fill in with water is one way of having a pond. However, this form is usually more workable for larger scale pond such as those used for watering livestock on farms.
Advantages:
  1. For large ponds, it may be cheaper per square foot of surface area unless you add a liner to it.
  2. Very natural look
  3. Usually do not incorporate elaborate filtering systems
Disadvantages:
  1. Generally not appropriate to a small, suburban backyard
  2. Less control over water quality since they are generally not filtered.

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