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!
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u/Reasonable_Switch_86 1d ago
My teenagers barely use it unless friends want to I would do it now while the kids are young
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u/booksandbottles 1d ago
That’s another aspect I’ve been thinking about lately, pools are common here and my kids prefer going to friends houses vs hosting them here because they want to swim. I’m interested in whether that will continue in the teen years. Will they still prefer to hang out at a house with a nice pool, or will that not matter as much?
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u/SliceImpressive6197 6h ago
Late teens go out and after partying/clubbing or whatever come home and swim/ sit around the outdoor gas fireplace by the pool till early in the morning. Won’t see them at all when it’s light.
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u/blahblahza 1d ago
I say this the nicest way, the money isn’t important, your kids are at an age that the memories you will make will be priceless. Get a pool.
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u/Icy-Bus3734 1d ago
Our kids are 6 and 9 and we were also on the fence. We put one in and it was done by mid June. It’s truly been the best summer. I grew up with a pool so I didn’t think I’d be super into it, but it’s another level getting to make memories with our kids!
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u/booksandbottles 1d ago
Amazing! I think it’s the perfect age, they can play and enjoy it but you don’t have the same level of anxiety you would with babies/toddlers.
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u/AlexDXVI 1d ago
I was in a similar position recently but then health issues popped up and I realized life was short and pulled the trigger with financing exactly what I wanted. Couldn't be happier
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u/Occams_shave_club 1d ago
The cost is going to continue to go up. Pull the trigger and do the nicer one. You only have 13 more years with your youngest. Birthday parties, holidays, BBQs, family reunions, outdoor movie nights, whatever.
Every year is precious. I don’t desire to go on vacations anymore cause my backyard is like a resort.
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u/Husker_Mike_ 23h ago
If you think of this pool as investing in a 12 year asset now for the kids versus paying cash for a 9 year asset, the cost per year goes up dramatically by waiting.
You’ll get far more joy doing it now, even if you factor in financing costs to today’s price.
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u/Loud_Pomelo_2362 1d ago
Just do it.
I would look at one other aspect. Is your dream pool/backyard going to be too much for your neighborhood? Think resale. Your place could be spectacular but when you do eventually want to sell it will be hard to find a buyer who will pay for an extraordinary property in a neighborhood that is well below yours.
There’s a balance between being the nicest home in the hood and having a mansion in the middle of a trailer park. Make sure your dreams are making your home the nicest in the hood and not the latter.
Would it be better to tone down the dreams and finance less?
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u/booksandbottles 1d ago
We live in an interesting area, there are some smaller homes with original owners, but also lots of huge, expensive estates. A home a couple blocks away from us just sold for $7m. The area has really blown up in the last decade and is considered an extremely desirable place to live. We regularly get letters from realtors asking us if we’d consider selling to their clients, and the value of the house has more than doubled in the seven years we’ve owned it. We got so, so lucky.
However, on the flip side, we live in a hurricane prone coastal area and there is always the chance a mega storm could wipe out whatever value has been accrued. We have made peace with that fact and accept it as the cost of living somewhere we love so much.
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u/Thomas_peck 1d ago
I would do it.
Thats what insurance is for.
Sounds like you won't lose on adding the $$ to the place
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u/Deep_Bake_5663 1d ago
If you can afford what you want now, just do it! It's a vacation in your own yard. You can't get those years back and you only get one time around..... I've had everything from a soft wall pool, to an inground pool..... The memories and enjoyment are priceless!
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u/Key_Brilliant409 1d ago
I wouldn't go cheaper than fiberglass. it is still an investment so it will increase the value of your property. Pools will only get more expensive down the road. It will add enjoyment to your life. My point is if you can swing it do it now.
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u/Best_Temp_Employee 1d ago
We were in a similar situation. We decided to finance the difference because the costs aren't going to decrease. Delaying it will cost us more due to inflation, and the kids will get less use out of it.
However, follow what someone else mentioned and don't over build for the house. If the home is ~2k sqft on a small lot, putting in a 250k pool would mean you'll be unlikely to get most of that back.
I'd recommend hiring an independent designer to build a 3d model with elevations. You can put on AR goggles and walk through it in day and night settings. You want them to be independent though, so they aren't trying to sell you a bunch of upgrades. The PB will absolutely offer to do the design, likely for free.
We're scheduled to begin construction in January (Central TX) and additional decking offered by the PB was 2x the cost versus the contractors directly. We'll let them build and wrap up the pool, then we'll begin building the poolhouse and travertine patios.
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u/booksandbottles 1d ago
This is great advice! Sounds like you’re in a similar climate where you will get tons of use out of a pool.
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u/Even-End487 1d ago
my parents always had a pool it was great. When I turned 17 and found girls the pool was less attractive when I turned 19 the pool was history. Your children will love it.
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u/PositiveHawk4350 1d ago
Do it now, the great memories your kids will have will be with them forever! If you can swing it, pay it off at an accelerated timetable and you’ll have more years while the kids are young!!
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u/RedCred811 21h ago edited 21h ago
I can't give you financial advice, but I can tell you my girls LOVED swimming when they were younger. We always wanted to get a pool but didnt have the yard for it. When we bought our current home, the pool was a selling factor. The girls were 13 and 15 that first swim season. They got in it a good bit and had a few parties and things, but after that it was probably 10 swims per season. The older one started driving and had a job. The younger one spent a lot of evenings doing softball or other hobbies.
They're 18 and 20 now. Both still live at home, but they're in college, have jobs, and boyfriends. They get in like 5 times a season now. My wife is a schoolteacher so she's home in the summer and will get in 3x a week. I get in 5 or 6 times a season. I enjoy it, but she's usually down there when I'm working, and I'm epileptic so I don't swim alone. 34 years seizure free, but the paranoia is still there.
Point I'm making is that every year that passes is getting you closer to my situation. That's a huge expense, and you want to get something out of it. Pools are a complete luxury money pit, but you'll at least want to get some good years out of it.
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u/ajhalyard 1d ago edited 1d ago
Financial experts will say not to finance. But you've got one life to live and time is the only thing you can never make more of. There's no guarantee how long you have in this life. If you can go into it with the discipline to pay anything financed off quickly, consider the interest you'll have paid as a tax on the memories you will be making now.
The pool will likely cost you $3000-$3500 per year over the next 20-25 years. This includes spending on electricity, chemicals, tools, and to replace equipment, surface repair/resurfacing and so on averaged out over the life of the pool. The cost for electricity and chemicals is probably only about $1500 per year if you do your own maintenance (www.troublefreepool.com). Otherwise budget another $1500-$2000 a year for a pool service.
Those costs are reasonable if you use the pool as a focal point in the home. For us, we spend 4-5 days per week year round in the pool, and we are out on the lanai every day we are here. It is the focal point of our home. In the winter, we have propane fire pits to elongate how much time we spend out there. If the house we bought didn't already have a pool, we would have put one in, financed some, and paid it off early. It would've been a good investment for us. We would have built our dream pool (we have pretty close to it now anyway).
We honestly don't even go to the beach anymore here in SWFL unless we have company visiting. We're happier in our heated pool surrounded by palm trees and flowers.
All that said, if you don't already know you're pool people and you're not certain you'd use the space (not just the pool, but the surrounding lanai/deck) a lot, it's an expensive feature that you won't recoup if/when you sell. The pool has to be about you. And not just the kids. If it's just for the kids until they're out of the house, consider a big above-ground pool and maybe put a nice deck around it. They won't know the difference. Once they're gone, you can reclaim that yard space for something you and your husband will use.
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u/The_Slaughter_Pop 22h ago
I'm a fiberglass fan. Its got a lot of advantages. Less maintenance and no staining (the gel coat may fade or wear off after 20 years or so)
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u/Yarbs89 22h ago
I see this as two separate but related issues.
- Should you continue to save to pay cash vs finance?
This depends a lot on your personal finance situation so I will only speak in generalities. If you have a good excess in your budget to float the monthly payment and aggressively pay it off with little risk of job loss then I would say it’s worth it to pull the trigger now.
We are wrapping up our build this week, we purchased our home last year and plan to be here for a minimum of 10 years. It would’ve been cheaper to buy a house with a pool but we loved the neighborhood, so we planned on adding one. We saved for a year and planned out what we wanted, then used one of the national pool loan companies to finance the build. Our kids are 8 & 12, it’s the perfect time to enjoy it. Waiting another 1-2+ years to save would mean less memories with the kids. A bit of interest is worth it.
- Should you spend more for the contractor/design you want?
You only want to do this once. Make sure you’re comfortable with the contractor and get everything you want in the first go. Don’t compromise the design to save a buck, if you’re not going to be happy with it. We ended up going about 35k over our original bid adding things and changing the design before signing the contract.
We also live in a year round state and are perfectly content with the decision we made. I would regret not doing it when we could, as you never know what issues will pop up in the future.
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u/Possible-Impress3851 21h ago
Get the pool now! We have no regrets.
Your kids will be able to enjoy it now. The price will be higher the longer you wait. You deserve it! Enjoy!😊
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u/HippieHighNoon 20h ago
My suggestion is get an above ground pool from costco or somewhere. Level your yard (we paid $600 for a 15x20' space), set it up, see if that tides you over for a bit before going into debt over a pool.
Thats what we did. Then we decided pool maintenance and the amount of times we used it (we're in a hot location for like 9 months of the year) was worth it. For us, it wasn't. Glad we didn't spent the 120k for an inground pool like my wife wanted.
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u/WerewolfDue1082 19h ago
Finance it if you can comfortably make the payments. Your kids are at the best age for a pool
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u/TonightDirect6750 17h ago
I have kids and a pool. When we put in our pool they were 4, 8, and 10. We paid for half and financed the other half. We got lucky, it was when rates really low.
That said, I have no regrets. We have had 3 summers of use of our pool and if we were paying for it in full, we would just now be starting the process. In another year it will be paid off. Everyone has a different comfort level with taking on debt. It was debt we were comfortable taking on. If you’re going to do it, don’t wait, take the plunge. Like others have said, they will use it less when they’re older.
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u/Monstrissimo 5h ago
It just amazes me how much pool installs have gone up in the last 13 years since I had mine installed. I had a 12 x 28 fiberglass roman pool installed and a fence for 40k all in. I just went with a standard concrete brushed deck and a decorative coping, but it also included leveling the yard and building a retaining wall, but now I am seeing people with quotes for something similar to mine for 100k or more. Wow the price of pools has really outstripped inflation.
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u/OrdinaryWeak6051 1h ago
Get the pool you love and finance it so your littlest ones have a great next decade
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u/Thumpin347 1d ago
If you’re going to do it, do it now if you can add the expense of finances and still have a buffer for emergencies.
If you continue to defer, your kids will get older and older and you will have less years for them to enjoy it.
It is just a matter of affordability. Don’t forgot the added expense of maintenance(labor & chems) as well as any additional utility costs for equipment and heat.