Pool loan?

[Anonymous]

We closed on a new construction home August 2015 with a VA loan and now we are wanting to get a pool. We don't have enough equity for a HELOC so I'm wondering what types of loans are out there for a pool? I estimate the total project, with screen enclosure, to be about $35,000-$40,000.

[DrZoidberg]

Taking a loan for a 40k pool is a bad financial move. Why not enjoy the house a few years and save up in the mean time?

[JustinA]

Pending location...a pool can also be a deterrent for resale.

[Anonymous]

Have you spoken with any pool builders yet? A lot of them have recommended lenders that they work with.

I'm waiting two more years before we put one in, it's killing me but I want to do it the right way! Good luck, let us know what you find!

[RonM21]

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@DrZoidberg wrote:

Taking a loan for a 40k pool is a bad financial move. Why not enjoy the house a few years and save up in the mean time?

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+1

[Anonymous]

I wasn't asking for a judgement of whether or not it's a smart financial move. You don't even have enough info about my finances to make that statement, but thanks for the negativity! There's one in every crowd.

We are in Florida. Pools are highly desirable. It will add value.

We have talked to a couple pool builders but did not inquire about financing. That's a good idea! Thanks for the advice!

[JustinA]

Take it easy there. It's all word of advice. In Florida you're probably correct. Here in lovely ohio it's not. It sounds like you had your decision already made so enjoy your pool.

[Anonymous]

I agree with the OP's second response in the thread.  Too often on this forum (any forums, really) guys come off abrasive for no reason at all. 

[Anonymous]

OP, let us know what you find. I'm in FL too and it's killing me not having a pool in the backyard already :-)

I'm looking at one possibly in two years - I'll have the items paid off that were a must have when we moved and then on to the nice to haves.

[Anonymous]

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@Anonymous wrote:
I wasn't asking for a judgement of whether or not it's a smart financial move. You don't even have enough info about my finances to make that statement, but thanks for the negativity! There's one in every crowd.

We are in Florida. Pools are highly desirable. It will add value.

We have talked to a couple pool builders but did not inquire about financing. That's a good idea! Thanks for the advice!

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It will add value, but that additional value won't be anywhere near the cost, even in Florida. That's what they were referring to when they said it was a bad financial move. They weren't questioning your finances. On the other hand, if you're planning to live there for a long time to come and you want the pool to enjoy, go for it.