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Started By
Message
Financing a pool
Posted on 11/29/11 at 9:12 am
Posted on 11/29/11 at 9:12 am
What is the best avenue to take putting in a new pool? Credit score great, only 1 note....paying on house=have about $70,000 escrow built up. Need about $30,000.
2
Posted on 11/29/11 at 10:02 am to Raymanz
Do a secured home equity loan.
Posted on 11/29/11 at 11:16 am to notiger1997
HELOC
Posted on 11/29/11 at 6:42 pm to Raymanz
A HELOC is good to have btw but with a specific purchase in mind and the current interest rate environment, a fixed rate loan may be better.
But only slightly, a HELOC is perfectly fine.
I would wonder if the pool is really worth it though. It is a money pit.
But only slightly, a HELOC is perfectly fine.
I would wonder if the pool is really worth it though. It is a money pit.
Posted on 11/29/11 at 6:43 pm to foshizzle
Don't get a pool.
Posted on 11/29/11 at 6:52 pm to lynxcat
quote:
Don't get a pool.If you think of it as an investment
If you love the water and have kids who love the water. Go right ahead!
Posted on 11/29/11 at 7:08 pm to reb13
It is a money pit. If you love the pool then go get a club membership.
Posted on 11/29/11 at 7:49 pm to lynxcat
quote:
If you love the pool then go get a club membership
This is what we did. I know I would not keep up with the pool and would hate myself for paying for a new one.
Joined a little country club for $50 or so a month and have enjoyed the hell out of it. I figure the kids will get tired of it after two or three summers and then we will quit.
Posted on 11/29/11 at 8:03 pm to notiger1997
quote:
Joined a little country club for $50 or so a month and have enjoyed the hell out of it. I figure the kids will get tired of it after two or three summers and then we will quit.
Yep this is the way to go. My family's pools have always been money pits.
Posted on 11/29/11 at 8:13 pm to LSUtoOmaha
My parents have a pool and love it. Its an expense, so, as they say:
Posted on 11/29/11 at 8:16 pm to kfizzle85
Renting would probably be the best option here, imho.
Posted on 11/30/11 at 3:55 am to LSUtoOmaha
My parents bought a house that already had a pool. The previous owners put the pool in. When my parents were buying the house, the owner told my dad that the pool/decking cost $38k to build. He showed my dad the appraisal on the house and the pool/decking appraised at $8k.
Posted on 12/1/11 at 12:02 am to guttata
I don't get the anti pool crowd... If you want a luxury item, be it a Mercedes or a pool, just get it. These types of purchases aren't investments and I would think this is common knowledge by now.
Posted on 12/1/11 at 12:30 am to TortiousTiger
Amen brother.
Posted on 12/1/11 at 12:47 pm to notiger1997
also,
i want no part of going to a $50/mo "country club"
you cant even be a member at the YMCA for that.
quote:
Joined a little country club for $50 or so a month and have enjoyed the hell out of it. I figure the kids will get tired of it after two or three summers and then we will quit.
i want no part of going to a $50/mo "country club"
you cant even be a member at the YMCA for that.
Posted on 12/1/11 at 2:31 pm to lynxcat
Whats wrong with a pool. If you enjoy entertaining relatives and friends its a great addition. Not everything you buy is to make money. Some people actually buy a house because they like it too. Not because it will one day make them money. Its like when you tell people you want to get a boat and other bitch and moan that its a money pit.. Well shite.. I want to go fishing and Im not going to pay 400-500 per trip to pay a guide.
Posted on 12/1/11 at 4:37 pm to TortiousTiger
quote:
i want no part of going to a $50/mo "country club"
you cant even be a member at the YMCA for that.
seriously, notiger1997 where do you live that you can pay 50 bucks a month for a "country club"? bet that place is disgusting.
Posted on 12/1/11 at 4:49 pm to theOG
quote:
seriously, notiger1997 where do you live that you can pay 50 bucks a month for a "country club"? bet that place is disgusting.
Most nice neighborhoods have a nice pool included as part of the HOA dues. Many times pool access can be added for around $50.
Posted on 12/1/11 at 5:32 pm to Catman88
quote:
Whats wrong with a pool. If you enjoy entertaining relatives and friends its a great addition. Not everything you buy is to make money. Some people actually buy a house because they like it too. Not because it will one day make them money. Its like when you tell people you want to get a boat and other bitch and moan that its a money pit.. Well shite.. I want to go fishing and Im not going to pay 400-500 per trip to pay a guide.
I like friends with nice pools, buy now, lever up if necessary.
Posted on 12/1/11 at 5:59 pm to Catman88
quote:
If you enjoy entertaining relatives and friends its a great addition. Not everything you buy is to make money
Can I come to your pool party for free so I don't have to pay for my own pool?
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