- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Anyone built a pool? Looking for info on financing
Posted on 7/13/16 at 5:14 pm to LSUFanHouston
Posted on 7/13/16 at 5:14 pm to LSUFanHouston
quote:
If the pool is in good condition when you sell it, it might add 20 percent or so to the value. Plus, you have had all the expenses of maintaining a pool.
Do what? So, if I had a million dollar home, adding a $70,000 pool would result in me being able to add $200,000 to the sales price?
Threads like this one always irritate me because there are a ton of other factors that determine whether or not a pool is a good investment. In some houses/neighborhoods, a pool is almost expected and if you don't have one...you will have a harder time selling that home. In others, you could potentially lose all of your "investment" completely.
Bottom line is it depends on the house, the neighborhood, the cost of the pool relative to the cost of the house and most importantly...whether or not you find the buyer that enjoys a pool as much as you do.
If you want a pool, do it because you want it.
2
Posted on 7/13/16 at 5:31 pm to Crusty
quote:
Do what? So, if I had a million dollar home, adding a $70,000 pool would result in me being able to add $200,000 to the sales price?
I think he meant 20% of the pool cost. I believe his point was that if the pool isn't maintained well and in good shape, it could be less.
Posted on 7/13/16 at 7:50 pm to Tigeralltheway
I built a pool and outdoor patio and financed with a HELOC. The kids are the perfect age to enjoy it, and the outdoor kitchen is great for family evenings.
However, in no way is the pool an investment. We are in the house we plan to stay in, so I bit the bullet and spent money on something we enjoy. Not every penny you spend in life needs to have an ROI (although being thrify and finance-minded that is usually my intent).
Just to do more rabble-rousing it is an interest-only HELOC, so it is a minimal cost per month with a 15 year term.
However, in no way is the pool an investment. We are in the house we plan to stay in, so I bit the bullet and spent money on something we enjoy. Not every penny you spend in life needs to have an ROI (although being thrify and finance-minded that is usually my intent).
Just to do more rabble-rousing it is an interest-only HELOC, so it is a minimal cost per month with a 15 year term.
Posted on 7/13/16 at 9:08 pm to Bayou Tiger
I have young kids so definately not an investment. I do live in an HOA with a pool but its always crowded. But I do agree, it's stupid to finance it, what am i thinking??
Posted on 7/13/16 at 9:25 pm to Tigeralltheway
Finishing up pool now. It's our long-term house and we have young kids. I'm as fiscally responsible as they come, and they checks for the pool have been easy to write.
I never looked it as an investment or how much I'd recoup if/when we sell. My "ROI" comes from knowing we will use it all the time, have friends and family always around on the weekend, plus just always having something to do outdoors in the LA summers.
I never looked it as an investment or how much I'd recoup if/when we sell. My "ROI" comes from knowing we will use it all the time, have friends and family always around on the weekend, plus just always having something to do outdoors in the LA summers.
Posted on 7/13/16 at 9:37 pm to Tigeralltheway
quote:
But I do agree, it's stupid to finance it, what am i thinking??
That's kind of a strong view, but it underscores why I don't discuss finance with acquaintances and pick my spots on an anonymous message board. It really depends on an individual's personal finances. Over the years I have always aggressively invested and not kept much of a cash cushion. So now I have some good business investments that I don't want to sell a piece of just to buy a pool. Along the way, my house is to the point where it is mostly paid off. So the cheap debt of a HELOC beats the opportunity cost of selling off some good investments. And if I had accumulated more of a cash cushion instead of reinvesting aggressively, my investments would not be where they are today.
Interest-Only HELOCs are harder to find these days. This is what I have, and it costs maybe $25/month per $10,000 or something low like that. Plus the interest is tax deductible if you stay out of AMT.
https://www.western.org/flex-rate-heloc
You were probably being sarcastic, but plenty of Dave Ramsey fans would throw a conniption fit at the thought of buying a pool with debt.
Posted on 7/14/16 at 9:15 am to LSU alum wannabe
quote:
I always suggest moving. Buy a house with a pool. Let somebody else pay
Not in todays market. My wife and I explored this option when we decided we wanted a pool. Our same sqft house with a pool down the street from us was $115k more than what I owe on our house. We opted to put in our own pool for $40k. Todays market is really high.
quote:
I never looked it as an investment or how much I'd recoup if/when we sell. My "ROI" comes from knowing we will use it all the time, have friends and family always around on the weekend, plus just always having something to do outdoors in the LA summers.
same here. I know HOA pools are great because you don't have to maintain them, but being able to have privacy BBQing by the pool with family and friends over definitely trumps the maintenance.
This post was edited on 7/14/16 at 9:23 am
Posted on 7/14/16 at 11:02 am to dlambe5
We put an above ground pool and nice deck in about 4yrs ago, we put a Matrix resin 30ft round pool in with a saltwater system - I have a robot that cleans it, I have a TF test kit that costs $35/yr for new test chemicals, and I buy about $150 worth of salt and chemicals per year. Pool is paid for I used a 401k loan (about 16k) and paid myself back in 3yrs. We love having the pool both my boys are excellent swimmers, screw a community or neighborhood pool. Maintaining and keeping pool water safe for swimming is easy. Not to hard to drink a beer and watch a robot clean it - not sure why everyone (most that don't have a pool) say they are a PITA to maintain.
Posted on 7/14/16 at 1:29 pm to Tigeralltheway
quote:
Anyone built a pool? Looking for info on financing
I did almost two years ago. Opted for an unsecured personal loan at 5.8 % through LA Capitol FCU. It was a very competitive rate and it did not require me to list my house as collateral.
Also, I figured that if I could not pay it, they could easily come and try to repossess my pool or at the very least, join me for an afternoon swim.
This post was edited on 7/14/16 at 1:33 pm
Posted on 7/14/16 at 3:14 pm to GenesChin
quote:
If you don't live in Phoenix, don't get a pool.
Or florida. You pretty much have to have year round pool weather for it to pay off.
If its a house you plan on living in for a decade, sure get a pool. 3 years? nah.
Posted on 7/14/16 at 3:48 pm to Toula
Paid cash for a pool two years ago. Use it five days a week. Use my outdoor kitchen four days a week. My wife has a golden tan (no pics), my house is a social spot, and my kids as their friends know they will always have a great, safe time here.
Great investment for the return I wanted which is memories and experiences.
Great investment for the return I wanted which is memories and experiences.
Posted on 7/14/16 at 3:58 pm to barry
quote:
If its a house you plan on living in for a decade, sure get a pool. 3 years? nah.
How often do you people move? I rent and it feels like some of you guys are moving far more often than I am.
I know you can't always predict the future, but is it THAT common to be buying a house and expecting to live in it for less than 3 or 4 years?
Posted on 7/14/16 at 4:00 pm to tlsu15
quote:
How often do you people move? I rent and it feels like some of you guys are moving far more often than I am.
I know you can't always predict the future, but is it THAT common to be buying a house and expecting to live in it for less than 3 or 4 years?
Working professionals, especially O&G folks
Posted on 7/14/16 at 4:36 pm to barry
Ok I can see how the O&G folks might have to bounce around depending on where the market sends them.
I also understand that people today aren't getting one job and working for 35 years then retiring, but it seems like most people I know are settling down with at least the intentions of staying 6 years +.
I also understand that people today aren't getting one job and working for 35 years then retiring, but it seems like most people I know are settling down with at least the intentions of staying 6 years +.
Posted on 7/14/16 at 11:20 pm to tlsu15
I wonder what the cost savings would be on a nice above ground setup vs. in ground...
Posted on 7/15/16 at 3:28 pm to AUjim
Seems like building a huge deck like that would be pretty expensive.
Posted on 7/15/16 at 3:36 pm to achenator
not cheap
but cheaper than pool
and when you're done with pool, very easily removable and or redecked over if wanted to keep deck.
undoing inground pool really expensive.
but cheaper than pool
and when you're done with pool, very easily removable and or redecked over if wanted to keep deck.
undoing inground pool really expensive.
Posted on 7/15/16 at 3:39 pm to AUjim
We have a half deck around our above ground pool which is 30ft round - if I remember right the deck was about $3500 of the project
Posted on 7/15/16 at 8:41 pm to Tigeralltheway
Take out a home equity loan.
Page 2 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News