Finance options for a pool

Finance for the house and land has been approved, just waiting for the build to start at this stage.

My side access will be around 1.4 m, I am just thinking if I decide to add the pool while house is being built, I know I cannot add its cost anymore to the home loan, what other options do I have?

I had to put more deposit due to the shortfall in valuation. So unfortunately, pool is definitely out of my cash budget. But I was just thinking if it’s possible to get it done still if I get a personal loan with same bank?

I was thinking of getting a pool a year or 2 later, but wondering if it could be done now thru a personal loan, to save me the hassle of having small/restricted side access. I am not sure if I will pay more later on for having small side access and if I go with fibreglass then also crane hire for the pool. That’s why I’m thinking is it worth it get it done now...

Any advice? Thank you

If it’s affordable - not impossible.

Thanks becjarrettdalton for the reply.

In my case, I went thru a broker with my home loan with CBA and just waiting for construction to start. Will I still qualify for a personal loan with CBA knowing I have just gotten a mortgage loan? Is this something I ask my broker or is this something I go directly to the bank?

I know it sounds silly to apply a loan for a pool but just wanting to see if it could work that way. Is it cost effective doing it now or it’s a silly idea and just save for it and do later? Hehe


Thank you

My cheif concern would be jeopardising the build loan by taking out more finance - so definitely be upfront with the bank / broker.

Cost effective....I see both sides. I know access issues can add considerably to the cost but you have to weigh up the cash flow of paying for the pool repayments. I guess one way of looking at it is forced saving, if you can make those repayments once it’s paid off keep going and knock the home loan off super fast!

No one can say without knowing your personal circumstances if you should or should not, there will be advantages and disadvantages in both cases - not the least of which potential conflict with the builder / damages.

I’d start by talking to your broker/bank and determining if it is affordable both from their and your perspective and go from there.