[quote=sdrealtor]Still flawed. What if they buy the house under appraised value? What if the house goes up in value? Over time you will pay down the loan etc. Too many variables to make a blanket statement about refiing in the future.
Pools are an interesting thing and hard to quantify how much value they add to a house. People who want them will pay extra for them. However, the majority of people dont want them so it reduces the demand for houses with pools. There really is no simple answer to how much value a pool adds or not.[/quote]
Not flawed if you want to cash out refi and stay at 80% LTV. Not flawed if you bought and it appraised for the amount you paid for and you already have a max LTV. Not flawed if the house value goes down. Not flawed if the house value stay flat, you paid the original appraised value, demolish the pool and want to refi. There are many scenarios where it would adversely affect you, if you fill in the pool. I never said to never fill in the pool or any blanket statement (at least not intentionally). I was just saying there’s the lost in “equity” when we’re talking about appraised value on top of the cost of the actual removal of the pool and the cost of landscaping after the pool is removed. One would have to weigh the pro & con for themselves to see if it’s worth the cost.
