Hello all -
Lot's of great info here. I have been lurking for a while and figured I might as well join.
We bought our home here in Keller TX July 2014 as a foreclosure. Got a great deal on the house and was able to customize to our liking and still came in with 70-100K instant equity. House is 420-450K as is. Many neighbors have pools. Wife and kids want a pool desperately and I, being the financial brains of the household, have reservations. I would be perfectly content with a large stamped concrete patio/pergola/firepit. We already have a nice balcony and outdoor kitchen.
- We have a .25 acre lot and a rather large home, so the backyard with a pool would leave us with a relatively small yard left over to utilize for play.
- Knowing that we will not get our investment back, it is difficult for me to rationalize spending 50-60K. If we go this direction, I would rather stay with a simplistic design and try to keep expenses down (35-40k??)
- I do not imagine us being in this home for more than 10 years, however, it is possible.
On the flip side:
- Kids are 3 and 11 so I would likely get a lot of use out of it.
- Given the fact we scored big on the purchase - we would not be underwater on the house if we did decide to sell earlier than later
- Happy wife, happy life!
Please give me your feedback and thoughts.