I'm not entirely clear on the current status of your pool. Your pictures seem to show a concrete bottom pool (fiberglass walls??) that has already been patched and painted? Is that correct?
I'll offer a few comments:
+ Ultraguard is just an epoxy pool paint. It *may* (or may not) be better than something like Kelley Technical's Zeron . . . but it's still just paint. Heavy epoxy paint will seal small cracks, but not major leaks. Even with small cracks, if they move (in the winter, as the pool contracts) the epoxy will open up.
+ If you want a quality job -- and as expensive as epoxy is, you do -- you can not apply epoxy paint on top of acrylic or rubber paint. You have to remove the paint completely, by grinding or sand blasting.
+ If you have a fiberglass wall that "bulging" and leaking . . . there's a pretty good chance you're going to have to do fiberglass repairs. Depending on what's causing the bulging, you may have to do repairs under the deck, as well.
+ Pricing for pool renovation is very local. We can help you get some idea about what sort of repairs you might want to consider, but you have to find local people capable of that sort of repair . . . and get prices from them. Getting a price that might be right in a competitive year round pool market like Miami or LA won't have much relevance to you.
+ "Crappy paint" does not damage pool surfaces underneath the paint, so far as I know.
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