Would you get a pool knowing you would not get any return on it?

Question

We go back and forth on the idea of moving. We love our house, but hate the lot. We have almost an acre, but it's on a slope that makes it almost un-useable. We have been looking at houses with pools b/c we really do want a pool. Here s the question, we can potentially have our house paid off in 10 years (my kids will be 16 and 13), which is what makes it very hard to move. So we have thought about getting a pool in our backyard. 2 downfalls are that the slope would increase the cost dramatically and I don't think there would be a chance that we would get any of the money back considering our neighborhood. There are no pools around us at all. it's a middle class area, but I just don't think it would increase the value much if we had to move one day. But, it would also be much cheaper than buying a new, way more expensive house. Would you get the pool (I'm thinking it would be minimum 60k) and still be able to pay off the house within 12-14 years knowing that the neighborhood could go down in 10-15 years and not make a return? Or do we just sell and start over given we can find a house that meet our criteria (with a pool).

Answer 1

There is a lady here that has permission to have some her ground natural which is scrubby looking, some of her land for large cages where she raises a lot of parrots, and while walking around her grounds she has a really great above ground pool. They have built a deck around it. Ok that's nice but it isn't as nice a regular pool. I think that a pool is a great thing for kids. They get a ton of exercise and probably all the neighborhood kids will become their best friends and you will have to watch and feed them all. But my sister loved it and passed a rule that no children could be in the pool when she got off work. Her husband had a real bad heart and so cooked dinner while she floated in the pool. That was just great....with the kids or without them. Can't you have dirt brought in and make a place with a wall that would hold the dirt and pool? That can give you some great landscaping opportunities. You don't say whether you live south where you can swim all year or not...that makes a big difference. I've gone to a lot of places and really hate all the people and kids in diapers and kids that pee in the pool. Nothing better than your own back yard. I think I would go with a contractor to bring in dirt and fill in an area...we can go to the local dump and buy dirt by the pound. They have big machery that will dump the dirt into a pick up and it is pretty cheap although they can scratch up a pretty truck. YOu need someone with a beat up truck that will bring it in and you shovel it out. Ok I live where the entire world is flat so a slanted back yard sounds like an ideal place to landscape. I live on a resaca...an old Rio Grande river bed...that floods when it rains...rain is always torrential here..so I had dirt brought in and I used to go out this old road to help someone out and dig up the side of the road. I brought in hundreds of buckets of dirt...here that makes a difference. All I can add is if you think your neighborhood is going down, sooner is better than later. If not and you like your house, change the lay of the land and save the rest of the money for later on. That sounds like a lot for a pool but here people have pools...except me. I can't afford it.

Answer 2

In your case, I would recommend an above ground pool, that can be disassembled and keep your costs to a minimum. An in-ground model will cost much more, for preparation, install, and that all-important, regular, ongoing maintenance. You get the benefits, while you are there, and don't have to spend as much to install, prepare or maintain it.



Consider the investment to prepare the space, flatten it out, to be useful in the long-run, since that space can easily be transformed into other outdoor lounging, garden, gazebo, patio, deck, etc. once you remove the pool. These things are more valuable selling points, and if done well, can easily translate into higher resale values, with greater curb appeal. Turning the space into something a bit more usable, for entertaining is usually money well spent, and may even permit the home to sell faster, once it does hit the market.



You will not get the return on the investment, other than the personal use factor, an convenience, access to the pool vs paying for membership to a YMCA or other community pool. Going above ground will also give you the ability to determine how much it might get used, without incurring all of the expense, and tear it down when it isn't needed any more.

Answer 3

Paying the home off in "10 years" i think i can say NO POOL that is further debt much less "60k pool! ha i dont see luxury homes on he hills buying pools past 40k and you bet they are award winner contractors conducting the job.Have you even seen the fees and permits and allowance to conduct something like that by the city?.I also say that 60k pool is 70k over time because guess what happens when the soil loosens and IT WILL specially on a slop you are really walking into a nightmare there will be cracks.My parents have a beautiful flat pool and all our neighbors and the extreme heat and elements can very much beat down on the pool we all have algae and my dad cleans the pool every WEEK for 10 years and the algae raises the ph levels of the water and stucko then wears down and cracks can happen or ruin tiles etc (parents spent 10k on a ok contract company not even the best) People with no experience will soon realize the 3,000 copper pool heater rusts if not cleaned (no jacuzzi and it will) the stucko will crack and on a slop its probably going to loosen soil and CRACK the contractors wont tell you this because they want your money but think about the engineering of this for a while.It should not be done!

Answer 4

Financially, a pool is a terrible idea. Not only won't you get your money back, a pool will actually limit your resale market.



How often do you go swimming now? If you're not traveling to a public pool, or private club pool to swim several times a week, a backyard pool will be a lot more trouble than it's worth. You've got to maintain it all season, even if you only use it once or twice. A lot of money in pool chemicals, a lot of money to run the filter.



Your kids, and their friends are currently 6, and 3 years old, right? A pool is a dangerous backyard hazard.



Better that you put the money into college savings for the kids.



EDIT:

By the way: considering that you have to terrace your sloping lot, 60K inclusive of everything is a good budgetary figure.

Answer 5

I suggest you call some pool companies to come over, look at your site, and give you a quote. Call 2-3 so you make sure the price is right. Right now, you're just guessing at the cost. So, if you do this, you'll find out if it's really doable, and if you can do it at the cost you think it will be.



Then, call three real estate agents, and have them come over and give you an idea of what your house is worth. Ask them how much it would increase if you have a pool. Again, you're just gathering info.



What you'll find is that you won't make on the house as much as it costs to get a pool. Most home remodels have the same problem.



I also think you should just go and look at houses and see what it would cost to get a new one.



Gathering this info will help you make a decision.

Answer 6

I think the first option is to get an above ground pool, if you have the area for it. I know you said your property has a slope to it, but if you can, an above-ground pool is a good option. It's not expensive compared to the 60K you are thinking of spending, and you can try it before you spend all the money. If you decide that your family likes it, then the 60K may very well be worth it, even if you don't make money on it. And, love your house and don't plan on selling it anytime soon, then putting a pool on your property will be a good investment.

Answer 7

get a good above ground pool, you will get some use out of it, maybe not at much you might think you will use a pool and you haven't spent all that money to put a pool where there is little chance it will enhance the property for sale

maintaining a pool is a big expense and also a great liability, there are local laws about enclosing them preventing accidents that will happen with pools open to use

think again on the pool idea, your kids are beyond the early stages of getting acquainted with water

Answer 8

I wouldn't have a pool if it was free. First is the danger of kids drowning, this causes high insurance and the need for a great fence. Second it the cost and trouble of chemicals, it needs monitored and adjusted and cleaned or a pool service so hundreds a year. If heated you have equipment to maintain and cost of heat and a pool cover to keep leaves out. Final is the drain field you will need or sewer cost to drain the pool and the cost of water.

Many of us won't buy a house with a pool and many fill them in. The only way I would have them is if I lived some place miserably hot.

Answer 9

A nice pool in great condition does increase the value of a house. Maybe not as much as it cost to install but it is not a total write off. How much is your enjoyment of the pool worth during the time you live there? I bet the two added together make you come out fine. If on the other hand you build a very low quality pool and when it comes time to sell it has to be covered over- then it would be a total write off. And if the hassle of living with it is terrible then you don't get enjoyment out of it. I would pay a good price and get a great pool builder. Talk to people you know that have had a pool built in your area.

Answer 10

You would be better of to move to a better neighborhood, buying a house that already has a pool you like. Better off both in terms of quality of life and financially. Financially, as the long-term cost will be lower; quality of life, because you will NOT be in a declining neighborhood while the kids are growing up. Get a house with a nice in-ground pool, you won't regret it. We moved six years ago, buying a house in a very good neighborhood with a rather fancy in-ground pool. We love it.

Answer 11

60k is an awful lot of money for a pool, Why not invest in a contractor to level out some of the yard, then invest in an above ground pool, if it lasts 5 years, then you get another 1 it won't cost all that much, and the extra from the 60K you could use to pay down your mortgage. In looking at houses, I do not want a pool or the upkeep and I have passed by those with inground pools so it doesn't increase the appeal for a lot of people.

Answer 12

Personally, I would not install a built-in pool in a neighborhood where pools aren't common.



I would suggest you consider an above ground pool. Not the cheap ones from wal-mart, but go to a pool store and see what they have for high quality pools. You could probably get one for under $5,000 that will last you several years. Or just get a membership to a local public pool.

Answer 13

If you get the pool it would be for quality of life.

Naturally you'd want a return on investments.. But your kids would be so much happier.

You could have friends over with their kids as well and it would just be an enjoyable experience overall. Pools really cost that much? I had no clue.

Answer 14

Move and buy a house with a pool. You could never recoup the money spent on

installing one. Most buyers do not want a pool. They are a constant costly hazard.

Have a pool while your children are young. There will be no interest in it later.

Answer 15

From your statement about the neighborhood, you would be over building for this neighborhood. If there are no pools currently in this neighborhood and you are able to see this neighborhood deteriorating in the next 5-10 years you would be wasting your time and investment.



You might consider getting off the pot and make decision to move now as oppose to waiting. Property values are not going down. If you purchase now, you would be accumulating equity in your new house.



Also you would be able to get the maximum out of your current house before the neighborhood completely

deteriorate.



You not making a decision to move is costing you money. It is costing you money because eventually you would not be able to realize the maximum you are able to demand for your current house.



It is also costing you because when you do make up your mind to purchase a new house with a swimming pool the value would have increased and you would not realize the appreciation by owning the house you want to purchase.



I hope this has been of some benefit to you, good luck.



"FIGHT ON"

Answer 16

personally, i would not install a built-in pool in a neighborhood where pools aren't common...



i would suggest you consider an above ground pool... not the cheap ones from wal-mart, but go to a pool store and see what they have for high quality pools... you could probably get one for under $5,000 that shall last you several years... or just get a membership to a local public pool...

Answer 17

If i was in your position i would that's becuase firstly you create a happy life for yourself, partner and most importantly for the kids which they will apperciate later in the life and look back say we built that together. Secondly, we're living in a capitalist world if you will invest 60k now in 10/15 years time you will get at least the money back or more. The value of your house will naturally go up every year and value of the pool will add up to the total value of your house. Right here an average house is now 299k and in 10/15 years time its predicted to be 450k so in the short term you may make a loss but in the longer term you will profit.

Answer 18

No I would not get a pool. I can walk to the seashore here. My pool is bigger than your pool It is called the S Pacific pool

Answer 19

Pools do not add enough value to the house to justify the cost of installation. Never mind the actual cost of owning the pool.



You will spend upwards of $50K for the pool, but you will never recoup the money when you sell the house.

Answer 20

A pool will never bring the value up as much as it costs. It is about the pleasure it brings you.

Answer 21

You not get anything in return but will make you property fancy. So you can go with it.

Answer 22

Yee yolo

Answer 23

I would never get one because you will have everyone visiting you, but just to go swimming.

Answer 24

NO.............too much maintenance.