Should I put in a pool?

[disneysteve]

Reading your updated info, absolutely, positively, no way in hell can you afford a pool.

You have car debt and credit card debt.
Your emergency fund wouldn't even cover 3 mortgage payments.
You are grossly under-insured (and only through your employer which is especially bad).
And your comment about paying off the Home Depot card to keep your "credit in good status" suggests that you really don't understand how credit works.

And if you think having a pool is going to eliminate your desire to take vacations, I think you're deluding yourself. I can guarantee you that what will happen is you'll get the pool, enjoy it for what it is, but still want to get away from time to time. Vacations aren't just about being away from work. They are also about traveling, seeing new sights, having new experiences, and not having to cook and clean for a few days.

I voted "You can't afford it" but 'No way" would have been an equally applicable answer.

[disneysteve]

I'm not sure if I've seen this kind of strong, unanimous agreement on a question around here in years....

LOL!

[rennigade]

The only way I would get a pool is if I lived somewhere warm all year round. Not sure if it lists where OP lives?

Besides OP cannot afford it regardless. Also..I heard its never a good idea to install a pool since it costs a lot. Better to buy a house that already has a pool.

Ive always liked pools...meaning I like going to someones house who has a pool so I can use it...then I get to leave while they're stuck with it. My dog also loves pools so thats always fun. Other than that its a money pit.

[msomnipotent]

Sounds like he lives in FL, which would make sense to get a pool if he had money for it. I would say to start considering a pool when you have at least 50% in cash for it, and then think about it.

Pool bonds are expensive, too. Our community pool was $5,000 to join and it is currently $750 per season. Our bond was included with the sale of the house, so it wasn't an upfront cost for us. The $750 ticks me off because we use the pool a few times a summer. But if you wanted to go that route, look for individuals selling their bonds. Our bonds can be had for about $2,000 now. There is also the YMCA and park district pools to join, too. I'm sure there are water parks in FL that would be fun to get a membership to as well.

[LivingAlmostLarge]

Okay in Florida I can see the point of having a pool. It might even make resale of a house stronger in florida. Grew up in hawaii with and without a pool and boy did the pool suck to clean. I swam competitively and it still sucked my parents made me clean it!

But on a financial note I would probably get a bigger ef and then get the pool. So many next year. Singuy you may want to look up his pool pictures. OMG i know it was $75k but it looks like a hotel pool in florida. That's where is he and that sort of pool and entertaining space I'd love. BUT i'm still not exactly in love with having a pool. I'm personally more a beach person.

[disneysteve]

Okay in Florida I can see the point of having a pool.

I definitely see the point. We rent houses in Florida every year and they all have pools. When you drive around the developments, out of 500 or more homes, there might only be a dozen without pools.

But the question here is if OP can afford it and the answer is clearly no.

[Singuy]

I'll put in my 0.2 cents since I just bought one.

1. A lot of work? Kind of if you want to do it yourself. The pool is not terrible to clean(a plug in dophine robot like a Roomba for the pool work wonders..you don't have to brush the walls yourself). The weed for the landscaping is where it gets me..lol.

2. Expensive to run?. 50 dollars more on electricity, but about 60 bucks in chemicals/month(probably cheaper for others). My pool eats acid for breakfast.

3. Prevents you from going on vacations? Not at all..DS is absolutely correct. Vacations are about experiencing new things.

4. Increase home value? You get 50-75% of the value you put in. I do agree that houses are EASIER to sell in FL with a pool. A bunch of families passed on my old house when I was selling it due to a lack of a pool. People are generally looking for a pool already with the house to get that 50% off on the pool's MSRP(and to roll it into the mortgage).

5. When should you buy a pool? When you can pay cash for it..like what people said..it's a toy with maintenance cost. It is not an asset but a liability.

I do not recommend for you to purchase a pool until you having your finances in order. Yes my wife and I spent 110k on our backyard which is near the edge of insanity for a member on savingsadvice. We held off until our house was mortgage free and having cash to pay it off in full before breaking ground. So my definition of having your finances in order is a tall order..not just credit card debt free.

[Thrif-t]

OP just get one of those Intex pools for a few summers and see how it goes. Those are fine for small kids. In fact my sister has older teenagers and had one for 2 summers. They were thinking about getting an above ground pool this year but I'm not sure that they decided to go ahead with it or not. Like others have said at some point the kids will be bored with their pool and want to go hang out with their friends at the club pool. While you have the pool you will also incur the expense of people coming over all the time and supplying food and drinks. That gets expensive and "old" after a while. Every one wants to be your friend when you have a pool.

I love pools but I don't like being the party house, I like my privacy so I would never have a pool because of all the people that would hang out here all the time. Plus like Fishingdude said you can take the above ground pool down after you are done with it. An in ground pool is a little more expensive task to incur removing it.

[snafu]

I bought our house in Toronto in spite of the fact that it had a gorgeous, in ground pool, deck surround and landscaping. Nearly every 3rd house had a pool so I never imagined being parent on duty nearly 24/7. It is so much work! Daily, testing, monitoring, cleaning, vacuum, cover on cover off and almost a mechanical engineer understanding of valves, and daily issues. Weekly trips to specialty store for endless supplies.

The best day was news we were transferred, the house would be sold! Having a pool was like having a 3rd job, past career, housekeeping, cook, parent to my two and every kid in the neighbourhood. Kids eat endlessly, need an 'ear' to listen, wash 3 piles of left behind towels and climb fences, Security lights work but you're out there daily for cats and racoons too.