Do You Want a Pool?

Do you want a pool?

by Lora Fickett

Do you want a pool?  I did, and I say DID because I got one.  I could picture it sitting in my backyard with the warm, clear water.  Having friends and family over to laugh, eat and enjoy the summer while swimming.  My #1 priority in life are my family and friends, so this was going to allow me to spend more time with them.  I saw it all, like it was there… and then one day it was.  But really I couldn’t manifest it, I had to have a plan, so how did I get it?

Here are the steps I took to get a pool that was definitely not in our budget.

The cost:

  • I called the pool installer to come and look at the property to see if it was possible and what was the cost?
  • Next I invited the electrician over to see how much it would cost to wire it and hook up a heater (I live in Massachusetts, a heater is a must!)
  • We also needed to contact a concrete patio installer to see how much that would cost once the pool was in.
  • Then I estimated out a fence cost.

Now that I knew it could be done in the yard and how much it was going to cost, I had to figure out How to pay:

  • I researched which banks had the best rates for home equity loans.
  • I checked the amount of equity I had in my home and my credit score to see if I would qualify.
  • Next, I spoke with some friends about fence installation and traded some services to cut out that cost.
  • Lastly, applied for the loan

I ended up with a low rate home equity loan where the payments were $500 a month.  I was able to re-arrange my budget by decreasing 1 vacation a year to add that payment in and there you go, we have a pool and today it’s going to be 95 degrees!

That’s one way to get something big that you want, but what if you can’t get a home equity loan, how do you do it?  You contact me and I’ll help you find a way without breaking the bank.

Stay cool everyone, and enjoy the summer weather wherever you are!

 

 

 

 

lora fickett

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