Is $130,000 to install a larger in-ground pool with integrated spa a fair price?

I recently bought a house for my family. It is a decent house in a great neighborhood with a stellar set-up for installing a pool. We are three kids in 3rd-8th grades, and then myself, a solo parent trying to make it all work with a net worth around $700k. I think we all desperately want an in-ground pool and integrated spa; anything else is just not cutting it. My daughters want a pool volleyball court, my son wants a deep end for diving, and I want a lap pool to get back to my roots. We’re each willing to sacrifice something from our ‘wish list’ for the agreed upon larger pool with integrated spa. But, even with the concessions, this still puts us at $130k for our pool. We only save $20K by not getting everything we want. We’d need to put in solar thermal or an electric heat pump later to be able to use the pool during the four coldest months of the year. Anyway, with my oldest four years out from college, it’s difficult to justify this kind of purchase when I know they’ll be needing money for college soon. I want their high school years to be amazing though, and for their friends to want to be here. I have been wishing, dreaming, saving for a pool for over four years. I am looking for reassurance that there is added value to our quality of life because of this immense purchase.