Swimming Pool Doesn't Add Much

Dear Dave, We're thinking about adding an in-ground swimming pool. We have no debt, two kids and we make about $58,000 a year. The pool will cost $32,000, and we have $53,000 in cash savings. We don't know what it will do for the value of our home, but it's currently worth about $180,000. Do you think we can swing it? Kelly Dear Kelly, It's really hard to get your money back from installing a pool. In your case you might see the value of your home go up $10,000 or $15,000, but you won't get your $32,000 back in the deal. I think you're probably looking at trading several years of vacations for this pool. But if you're cool with that and you guys really love swimming that much, I'd say go for it! I'd shop around for a cheaper price, though. You can definitely get a nice, in-ground pool for less than $32,000. Dave
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