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Looking at putting in a pool after new construction

1,592 Views | 17 Replies | Last: 20 days ago by Ulrich
ChoppinDs40
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AG
We're constructing a new home and will have (what I've budgeted) almost enough to pay cash for a new pool around the time we close on the new house.

I've been thinking about a few angles of attack and wanted to get some insight or general advice if I'm missing something. We're still not completely decided on when we'll build. Wife wants to have it ready for next summer (House expected to be done in January) but I'd like to get into the new home, get a feel for new bills/costs, buy furniture/decor/blah blah and finish the patio kitchen first.

Option A: just hold onto the Cash for the pool in savings account and put it in when ready.

Option B: Put that extra cash Down on the house and use the excess equity later for a HELOC on the pool. Already have 20% down payment earmarked. This option may also get us into a position where we're in a conventional loan situation, which could be nice.

Option C: Invest that Cash with my advisor and just take it out when we're ready to build.
Bassmaster
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Option A. Your wife wants it next summer, so it will happen sooner rather than later.
ChoppinDs40
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Bassmaster said:

Option A. Your wife wants it next summer, so it will happen sooner rather than later.
We usually let the $ drive decisions (usually!) so I think we'll end up waiting a year or two.

I'd really like to lever this if we can - throwing down 75k cash for a pool will be an absolute kick in the nuts.

We'll have 0 debt other than the house of which is about 25% of take home, so have room to leverage more.

Probably should X-post to business/investing board.
pdawg10384
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I dont love the heloc idea. Heloc rates are generally 1-2% higher than conventional loans. Paying down your 3% loan to later borrow at 5% doesn't sound wise.
mel99
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Why not complete the pool now? My neighbor just put a pool in and it totally destroyed their yard. You'll have to redo sprinkler system, ect. I think it's easier to do before landscaping is complete.
_lefraud_
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Pools in the fall are cheaper than the summer.
ChoppinDs40
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mel99 said:

Why not complete the pool now? My neighbor just put a pool in and it totally destroyed their yard. You'll have to redo sprinkler system, ect. I think it's easier to do before landscaping is complete.
the builders i'm looking at repair all of that and we'll probably be rolling in landscaping as well.

Not ready to drop the coin on a pool right now that we won't be able to use for 4 months after we move in.
ag0207
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ChoppinDs40 said:

mel99 said:

Why not complete the pool now? My neighbor just put a pool in and it totally destroyed their yard. You'll have to redo sprinkler system, ect. I think it's easier to do before landscaping is complete.
the builders i'm looking at repair all of that and we'll probably be rolling in landscaping as well.

Not ready to drop the coin on a pool right now that we won't be able to use for 4 months after we move in.



The builder will fix it but not for free. I would put it in prior to completion for simplicity but understand if financially it is better to wait.
RGRAg1/75
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ChoppinDs40 said:

mel99 said:

Why not complete the pool now? My neighbor just put a pool in and it totally destroyed their yard. You'll have to redo sprinkler system, ect. I think it's easier to do before landscaping is complete.
the builders i'm looking at repair all of that and we'll probably be rolling in landscaping as well.

Not ready to drop the coin on a pool right now that we won't be able to use for 4 months after we move in.

Maybe I misunderstood, but I thought you said "almost enough cash at closing" to go now. I'd think strongly about doing it with the build. The only reason we waited was to make sure all the littles were big enough not to stress us out constantly. The cost to re-do irrigation and new landscaping was A LOT more than I anticipated. If you think you'll be doing it by next summer, do it with the build. Will save you a few K at least, won't be an eyesore or disruptive when they're shooting gunnite at 0545 on a Saturday, and you'll be able to use it sooner than you think if you're in TX.

We just finished and our pool contractor is backlogged for 8-12 weeks now due to COVID (several crews have the virus). We started at just the right time. The planning and contractor selection alone took 6 weeks. Just some additional things to consider.
ChoppinDs40
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RGRAg1/75 said:

ChoppinDs40 said:

mel99 said:

Why not complete the pool now? My neighbor just put a pool in and it totally destroyed their yard. You'll have to redo sprinkler system, ect. I think it's easier to do before landscaping is complete.
the builders i'm looking at repair all of that and we'll probably be rolling in landscaping as well.

Not ready to drop the coin on a pool right now that we won't be able to use for 4 months after we move in.

Maybe I misunderstood, but I thought you said "almost enough cash at closing" to go now. I'd think strongly about doing it with the build. The only reason we waited was to make sure all the littles were big enough not to stress us out constantly. The cost to re-do irrigation and new landscaping was A LOT more than I anticipated. If you think you'll be doing it by next summer, do it with the build. Will save you a few K at least, won't be an eyesore or disruptive when they're shooting gunnite at 0545 on a Saturday, and you'll be able to use it sooner than you think if you're in TX.

We just finished and our pool contractor is backlogged for 8-12 weeks now due to COVID (several crews have the virus). We started at just the right time. The planning and contractor selection alone took 6 weeks. Just some additional things to consider.
I hear ya. We're not up for that right now. The building process has been stressful enough and we haven't even had our builder's meeting yet or broken ground.

I really think we want the house to be done, get a feel for the size of our yard, finish out our outdoor kitchen and get the house furnished.

I get building doing it now saves some money but that's just out of the question. Our new neighborhood has a sick community pool (Jerruh Jones development) so it's not like we'll be without. Little'un will just have turned 1 when we move in so we need to get her in swim lessons next summer.
nhamp07
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I would do the pool now for all the reasons mentioned.
Corps_Ag12
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Location? I assume Dallas County w the Jerry Jones comment.
ChoppinDs40
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Collin County

Prosper
Diggity
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If you know you want the pool and you can afford the pool, do it now. Building it in 6-12 months would be silly.

Garrelli 5000
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We built our pool simultaneously with the home. It was scary because we had to pay the home builder 100% of the cost of the pool up front and they then paid the pool company. This amount also was considered part of the home contract, so appraisal time was scary as well. We were fortunate that we were putting enough down relative to the total value of the contract that it didn't matter, but that doesn't mean we didn't have some sleepless nights. This was a 'cash' transaction as we didn't want a pool loan on our credit when time to get the mortgage.

Those are the cons to doing both at the same time and obviously the cash up front is the most difficult challenge.

Pros:

1. your home builder will make sure the land is graded properly with the pool in place. If you build a pool starting the day after you close on the home, you'll void any warranty claims on lot drainage. This includes getting your sprinklers right the first time and not having to re-engineer later.

2. You don't live w/your yard turned upside down for X months.

3. Depending on your lot, access to the backyard may be much easier before your home (and neighboring homes) are complete - this can save money on pool construction.



Medaggie
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I vote for doing the pool now. If you try to time it to be used when swimming seasons hit, then you will definitely miss it and possibly completely miss it when its done by late fall. Nothing about building esp swimming pools are on time.

Plus, people forget that the construction noise, mud, debris, delays will drive your family nuts esp with no place for your then 2-3 yr old to play.
DannyDuberstein
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Can it even be done "now"? Pool companies are totally swamped with work. I think this house may be done before it can go in anyway. I'm in Collin county too and thought I'd heard that contracts done now around here aren't getting built until 2021
Ulrich
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At least design the house/yard/sprinklers/utilities/pool with the home design. Could save you a lot of money and hassle even if you wait for the actual construction.
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