Browse Forums Pools & Spas 1 Jan 07, 2013 4:59 pm We are looking at having a pool installed after handover. As we are not allowed to add the cost of the pool to our home loan we are looking at alternatives to paying for the whole amount upfront out of pocket (we can just afford it but would rather have some cash reserves at the end of the build). We were looking at using savings to cover about 50% of the cost. I was wondering how people have financed the installation in the past. As we are first home buyers in WA I have heard that we may be able to pay stamp duty on the land out of our loan then use the refund we would receive after the house is built to make up the balance. Is this viable or are we asking for trouble? Our build thread with Redink 11/1 - Prestart 5/4 - Slab 29/4 - Brickwork 27/5 - Roof Cover 20/6 - Lock Up 20/8 - PCI 10/9 - Handover Re: How did you pay for your pool? 2Jan 19, 2013 5:22 pm The banks are very specific what the money is spent on at every stage for any purchase, I reckon you would be asking for trouble by doing that, we are just giving the bank two invoices, one for the house and one for the pool. Dosen't really help you though sorry depends on the bank I guess. Re: How did you pay for your pool? 3Jan 21, 2013 11:03 pm Thanks Maccattack. Looks like we will just end up saving the cash up. Our build thread with Redink 11/1 - Prestart 5/4 - Slab 29/4 - Brickwork 27/5 - Roof Cover 20/6 - Lock Up 20/8 - PCI 10/9 - Handover Re: How did you pay for your pool? 4Jan 22, 2013 3:29 pm Munchy As we are not allowed to add the cost of the pool to our home loan Or find another bank that does allow you. Our pool is part of our building contract and the bank was more than happy for it to be added onto the loan (subject to valuation etc) Re: How did you pay for your pool? 5Jan 22, 2013 4:25 pm Unfortunately going to another bank isn't really a cost effective option. I work for a financial institution so get discounted rates and no fees which is great except that they won't loan for anything external like a pool or landscaping. Though they have offered me a personal loan for it (at a higher interest rate than the mortgage of course). Thanks for the help though it might be worth refinancing though once the build is complete. Our build thread with Redink 11/1 - Prestart 5/4 - Slab 29/4 - Brickwork 27/5 - Roof Cover 20/6 - Lock Up 20/8 - PCI 10/9 - Handover Re: How did you pay for your pool? 6Mar 31, 2013 12:57 am Which bank does allow you to include the pool with the mortgage? Thats what I want to know! Building with 101 Residential in Falcon. Re: How did you pay for your pool? 8Apr 04, 2013 2:31 pm Homebody99 Which bank does allow you to include the pool with the mortgage? Thats what I want to know! Re: How did you pay for your pool? 10May 21, 2013 9:53 pm Our loan is through Westpac and they let us do the pool as well. 1st build: viewtopic.php?f=31&t=59376 *New*-2nd build: viewtopic.php?f=31&t=70324&p=1154282#p1154282 Re: How did you pay for your pool? 11May 21, 2013 10:48 pm We used Paln Lending, part of NAB and we have the pool in the loan. Re: How did you pay for your pool? 12May 21, 2013 11:46 pm Have you thought about taking our Personal Loan? It may cost you more for the first couple of years but in the long run will be less than adding it to your mortgage. Re: How did you pay for your pool? 13Jun 11, 2013 10:43 am My opinion is instead of taking out a loan, wait a bit longer and save up and use cash. That's what I think is the best course of action. Re: How did you pay for your pool? 14Jun 11, 2013 11:37 pm CrabStick Any other banks let you include pool? CBA?? We did it through CBA: we told them we wanted money for a pool, shed and the remainer of the house. We had around 60% equity in the home so this may of made it easier to get the money when we purchased the home. Re: How did you pay for your pool? 15Jun 17, 2013 8:19 am We had ANZ include our pool construction with our house construction. Pretty happy with ANZ's service and quick turnaround for payment of invoices. We built the Wisdom Majestic 40 - moved in! Our blog - http://ourwisdommajestic40.blogspot.com.au/ Our H1 thread - viewtopic.php?t=54156 Re: How did you pay for your pool? 16Jul 09, 2013 2:51 pm Has anyone added their pool to their bank west mortgage? Or fencing/landscaping for that matter? Building with 101 Residential in Falcon. Re: How did you pay for your pool? 17Jul 12, 2013 9:08 am @homebody99 I was told we could add finishings to our Bankwest construction loan, just needed to specify and provide quotes. Yep, very good point. I’ll do more research and see what figures I get. Thank you! 8 2462 Thanks mate. Yeah good points! Leaning towards Option 3 to get a bit extra space in the cabinets but not going too crazy high (and expensive). Would require a mini… 13 30515 No the fireplace doesn’t work. It’s been enclosed. I’m not sure what was removed, as it was done quite some time ago - well before what I can see with photos online… 2 9113 |