Home improvement loans are higher rates than homes and cars. If it can wait and you can save for a couple years to do it that would be the best way to go. If you have to do something now shop around and pay it off as fast as you can.
This is actually for a pool. We're not big on the idea of doing a loan but that's the only way to get it done. We don't really carry debt other than our house, student loans and car notes anyway. And the car notes are at 0%.
Used to be one could not get what is termed a "home Improvement" loan in the State of texas without doing a cash out on your mortgage. I exeprienced this back in 1999. I am not sure if this has changed or not.
Its nice to have your own pool, its private, neighborhood pools are gross people pee in them you will be swiming and someone elses hair with be wrapped in your fingers, gross. Id rather relax in my own back yard. Get a salt water pool and they are easy to take care of you can do it yourself.
@kingwooddiscgold. Homes in my hood that have pools are sold in less than 90 days. Homes w/o, still on the market. Friends w/o pools - still on the market. Just going by what I see and notice when looking at HAR.com.
I wouldn't go into debt for a pool. Don't get me wrong, I love em, but with the economy as it is, it just seems too risky. If you were to lose your job, making payments on a pool would make you nuts! If you have home, cars and student loan debt, that is PLENTY. Do you have kids? You can send one to college for what a pool costs. And while you may not have a kid now, if you ever do, you'll wish you had that money for an education. Buying a home with a pool is a far better way to go..but too late for that. We have lots of pools in Kingwood. I know, it's not the same, but it's not like you have to do without. And, having a pool is a wash for resale of the home. Half of the buyers want a pool, the other half don't so...that's the story there. A kitchen remodel is a good way to update your home AND one of the few things that actually help resale value. That would be a better place to put your money..
Some folks want the cost and responsability of pool ownership some folks dont. A home without a pool can always have one installed per the owners design specs. A home with a pool drops out a certain percentage of buyers. The homes in your hood might be selling but recovering the cost of that pool as a seller is negatable.