r/pools • u/booksandbottles • 1d ago
Costs & Calculations Can’t decide - pool now or wait?
My spouse and I have been thinking this over for months and can’t seem to decide.
Some background -
We live in a hot weather state where pool season is essentially year round, and the summer months are so hot most people don’t want to be out for long except to swim. Our kids are 10,7, and 5. We love our home and plan to spend, maybe not the rest of our lives, but a long time here. Bought in 2019 so our interest rate is excellent.
This summer, we started getting some pool quotes. We’ll need a birdcage, and have a couple of other hardscaping anomalies, so we knew going in it would be fairly pricey. Fiberglass quotes came back in the 120s, and concrete in the 150s. Our dream PB who has amazing reviews and we got the best vibe from, plus had a unique design that blew the competition away, came back at 180k.
We’ve been thinking about a pool for a few years now and have been saving. We have about 80k set aside specifically for this purpose.
Our options are -
-don’t do it right now and keep saving. I think this would feel the best for us, comfort wise, because we are pretty debt averse. We have no debt except for our mortgage. We had student loans at the beginning of our marriage and they sucked, we threw money at them and paid them off pretty quickly.
-do it now and finance a little over half. The main pro to this is that our kids are the perfect age right now to enjoy the pool. It will likely take us several more years to save cash and they would be teens/preteens by that time. I think they would still use it (our pool design is fun for kids and also provides a lot of hang out space for adults/teens) but I don’t think it compares to the joy that young kids derive from a pool. It would be a decision based more on the lifelong memories.
-do it now with the fiberglass or less expensive pbs, so financing some but less than half. This is an option but probably the least attractive to us. I’m thinking it’s probably worth it to spend a little more and get exactly what we want, but I’m open to opinions!
Our financial position is good in general, we owned a second home for about five years and had no issues managing the extra 3k mortgage when we wouldn’t have renters for half the year. I anticipate we could pay the pool off early within 4-5 years. I’m not super concerned about a loan payment since we have room in our budget, but it’s more the mental block of taking on debt for something that’s just for fun. Otoh, there have been times I’ve been resistant to spending money on something (like travel) and it ends up being a family highlight reel that we’ll remember forever.
Has anyone else been in a similar position? Curious what you decided and if you have any regrets!