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Old 05-23-2010, 10:12 AM
 
2 posts, read 8,849 times
Reputation: 11

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My husband and I want to put a swimming pool in our backyard but are not sure how to finance it. It seems when we were getting bids that through lenders affiliated with the pool companies the interest rates would average around 11.5% and possibly up to 20%. We decided to nix the project and try again next year since we just bought our house in April and don't have much equity yet.
Does anyone have any other suggestions on how to finance a swimming pool? As of now, we are just going to reassess next spring and see if we will qualify for a home equity loan.
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Old 06-08-2010, 03:31 PM
 
Location: Arcadia
90 posts, read 150,629 times
Reputation: 102
For me, I will only pay cash for a pool. It's to add quality of life and it's not something to look at as an "investment".

Moreover, I might be able to negotiate a sweet deal as an all cash purchase.
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Old 06-09-2010, 01:35 AM
 
10,719 posts, read 20,289,211 times
Reputation: 10021
One secret to negotiating is telling a company how much you have to spend. Call Shasta and tell them you have a 20,000 budget. Kiss up and tell them you heard they do great work and have a strong reputation but you only have 20K to spend and if they can offer you anything for 20K. If they don't want you business, they wont call you back but most companies are hurting for business enough that they are always willing to do a low margin deal.
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Old 06-10-2010, 04:51 PM
 
Location: Missouri
406 posts, read 495,562 times
Reputation: 157
Presidential pools is a decent company. The do employ illegals, one thing I don't like. Look at any company on Arizona Registrar of Contractors . Check them out, I am a licensed contractor and I think you must protect yourself making sure they are licensed, bonded, and insured!
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Old 06-11-2010, 11:20 AM
 
15 posts, read 28,232 times
Reputation: 16
Quote:
Originally Posted by ravanahleigh View Post
My husband and I want to put a swimming pool in our backyard but are not sure how to finance it. It seems when we were getting bids that through lenders affiliated with the pool companies the interest rates would average around 11.5% and possibly up to 20%. We decided to nix the project and try again next year since we just bought our house in April and don't have much equity yet.
Does anyone have any other suggestions on how to finance a swimming pool? As of now, we are just going to reassess next spring and see if we will qualify for a home equity loan.
This was quite awhile ago in much different economic times, but I financed a pool with a 2nd mortgage before. Was nowhere near 11.5%.
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