Is the current cost still worth it?

[kimkak]

We are seriously getting quotes for an inground gunnite pool and the costs just seems to be too high. We keep getting told the price of gunnite has gone up 15-16% in the last 6 months and the price of pools seems to have gone up a lot in just the last ten years. Right now we are looking at a 120ft perimeter, geometric with sun shelf and spa at about 18,700 gallons and all of our quotes are coming in around 90-100k. This is with compromises like sundek instead of pavers and lowest level coping and pebbletec finish. We are also getting about 1000 sq ft of decking with that quote which averages around $15,000 of the cost.
I know it’s a tough question to answer but is it still worth it? Should we just buy a condo at the beach for that money? Is this spike in gunnite permanent or maybe it comes back down a bit like everything else is predicted too (hopefully)? We paid $350k when we bought our house so spending $100k on a pool seems kind of crazy. Are average people paying this much? How is everyone affording it?
We know a pool doesn’t have a good ROI but we also don’t want to be dumb with our money.

 

[sktn77a]

Yes, pool prices are crazy right now - supply and demand. Unless you desperately, absolutely, positively, must have the pool right now, I'd wait a year or so.

 

[JoyfulNoise]

If you’re getting multiple quotes all at that price range then the answer is - yes, the price reasonably reflects the current market values.

The entire building trades industry is SLAMMED right now with work. COVID has absolutely ramped up pent up demand for renovations and pool builds. Pool equipment manufacturers are experiencing shortages in inventories and overseas materials are being hampered by expensive shipping costs (container prices have practically doubled in less than 2 years). To get a feel for it, go look at lumber prices - they have gone up 60% over the past year alone. It’s basically insane to build anything right now.

And, even if you signed a contract tomorrow, I guarantee your build would not start until the Fall. And even if it did start sooner, it’ll be a nightmare dealing with a stressed out pool builder and subs. There’s just too much work booked right now.

Will prices come down in a year …. maybe. Material prices aren’t very elastic so some of these increased costs are going to get baked into the industry for good. Only a massive interest rate increase by the Fed or an economic recession would force prices down quickly.

I say buy the beach condo instead, you’ll be happier …

 

[kimkak]

If you’re getting multiple quotes all at that price range then the answer is - yes, the price reasonably reflects the current market values.

The entire building trades industry is SLAMMED right now with work. COVID has absolutely ramped up pent up demand for renovations and pool builds. Pool equipment manufacturers are experiencing shortages in inventories and overseas materials are being hampered by expensive shipping costs (container prices have practically doubled in less than 2 years). To get a feel for it, go look at lumber prices - they have gone up 60% over the past year alone. It’s basically insane to build anything right now.

And, even if you signed a contract tomorrow, I guarantee your build would not start until the Fall. And even if it did start sooner, it’ll be a nightmare dealing with a stressed out pool builder and subs. There’s just too much work booked right now.

Will prices come down in a year …. maybe. Material prices aren’t very elastic so some of these increased costs are going to get baked into the industry for good. Only a massive interest rate increase by the Fed or an economic recession would force prices down quickly.

I say buy the beach condo instead, you’ll be happier …

Thank you for the information and honest input