Excavate or Restore an old concrete pool

[DocVot]

Hi all we just bought a home, not a very expensive one but its from the 1930s and concrete so everything is really expensive to do including running wire. That said we blew our budget on unforeseen electrical issues but still have this old concrete pool to deal with now. It is not bonded and pretty much a mess besides the structure itself. The pool is likely 40 years old, built by Sylvan Pools. There is black and white piano tile and old concrete coping, I would not touch either.

I know pools are desirable and from what I see and understand its built like a tank, but it needs a lot of work. Please let me know your opinion--- are we better off restoring this old pool or excavating and filling this pool in NJ? Its about 24 feet by 8 feet wide; and there is roughly 250 sq feet of concrete patio around it that needs to be replaced to bond the pool properly.

I attached a bunch of photos and below are the prices we have.

To excavate and fill the pool with a reputable excavation company with permits
Total to excavate: $14,500

To repair the pool:
Electrical work including a 180 foot trench to bring appropriate wiring to the pool (pool is not currently bonded) bond the railing and ladder $6,000
Masonry to remove existing slabs and lay down concrete $4,000
Sandblast and plaster $7,500 or sandblast and epoxy paint $6,000
New Pool Cover $1,000 (guessing)
Pool pump or motor - unsure but hoping they both work okay but don't know yet. Any thoughts from the photos??
THE MAIN DRAIN IN THE BOTTOM OF THE POOL IS NO LONGER IN SERVICE LEAVING THE POOL WITH ONLY ONE POINT OF SUCTION AT THE SKIMMER. Unsure if I need a second point of suction? That would cost another few thousand dollars.
Total including startup to restore = $19,500 - $25,000

 

[HermanTX]

The pool looks beautiful based on your picture from Summer 2020.
You say the main drain is not functional but also state you do not know if the pump/motor works - so how do you know about the main drain. Was it shut off due to a leak? Is there any possibility to repair this? I see you are "in the industry" so you must have some additional insight to this just as you noted about the bonding issue.
It is clear that it will cost $10k more to keep it plus the annual maintenance. Do you plan to sell the house in the next 10 years? If so, will the functioning pool add more then $10 of value? You know that if you spend $15k to cover it, then that is gone - forever. You would need to spend additional money on landscaping or water fountains, etc. to get any additional value.
If this is your home for the foreseeable future then would the $25k investment to have a great pool be of value to the family and friends?
Good Luck and hopefully this provides some food for thought.