Hello everyone, here is my initial thread on my 50 year old concrete pool and includes pictures of the current pool shape:
I have been talking to a pool repairman, pool refinisher, and concrete professional.
The estimate for tearing up the old decking ($2941.50), installing new decking (stamped concrete $11,100) and pool coping lip rub out ($960) comes out to $15,000. There is also a nearby patio that is falling apart that will be $5000. The restoration guy has talked with the pool repair person who is familiar with the pool and works with the concrete company and hasn't seen the pool yet, but estimated about $10,000. I'm going to get him out so I can get a true estimate.
Decking and coping: $15,000
Pool resurfacing and tile: $10,000
Fencing: $4,000 (we have two young daughters so this is a must, even though we already have a fence around the yard)
New pump: $1000
Does this sound about right for a 20x40' pool? It is a bit more than I was expecting, but I figure it will be really nice and should last a long time hopefully without repair. We would have to finance this with a home equity loan, we currently have 20% equity in our house (about $67,000).
Even though this is Cincinnati, Ohio, I have compared other houses in the neighborhood with pools and they are all pending, so I do think this repair would add value to house (maybe $15-20,000), but we plan on living here for another 20 plus years so not too much of an issue. However, I do have to consider that I think we would add more value if we were to take the $35,000 and say remove the pool and redo the kitchen (about 30 years outdated).
I'm torn, we weren't initially looking for a house with a pool, but we loved the house and the location and it happend to come with a pool. Now I've really gotten accustomed to the idea of having a pool, but I have to admit the costs were more than I was expecting. I'm not opposed to the pool maintenance (I was a lifeguard in college so I do have some limited experience), but still unsure of the monthly expenses. We do have a safety cover and the pool has a heater that also doesn't work. I'd plan on just removing the heater as I wouldn't want to pay for heating the pool in the colder months.
Also, if we are doing all this work, should we go ahead and invest now in a salt water system?
Any experience, advice, or words of support would be appreciated!