Tips for Buying a Home with a Pool
To buy or not to buy a home with a pool is a personal decision, but there are various factors to take into account, having a big financial impact in the short and long run. Among others, these can include insurance, maintenance and safety costs associated with pool ownership.
There is no question about the pool adding value to a property, but how? Unfortunately, actual data is scarce, but location plays a major role. Hence, to be totally sure, select an area that is not going to hurt your cause, if ever you decide to sell the property years down the road.
A pool enhances a home’s aesthetics and provides a place for relaxation and entertainment, but on top of that, you have to check out many other variables before actually deciding to purchase a home with a pool. For example, is the pool screened or enclosed, or is it heated or does it have any water features? How would you describe its general condition?
Figuring Out Homes
Generally speaking, if a home was valued at $125,000, a pool would cost you an extra $8,000 to $10,000. These is a mere estimates, of course, and you’ll have to check with a local appraiser for a more accurate picture.
Case Study: My Experience With Houses
Your biggest pool expense is the weekly maintenance, which is totally necessary, but with a lot of pool companies charging $50 to $75 monthly for servicing, this is hardly a problem. Other costs you need to consider are fencing, self-closing doors, pool suction devices, additional homeowners insurance, and safety alarms, among others.
It is important to hire a pool inspector to inspect a pool, just as a home inspector must be hired to inspect a home. The two don’t mix, so don’t have a home inspector look at your pool.
As well, don’t hesitate to ask the seller about the company that used to service the pool. That company knows the actual condition of the pool, as well as the costs required to maintain it.
If you know more about the pool, you can make a smarter decision as to whether buying the property is a wise investment. Most probably, the company would be glad to accommodate you too, as this would mean the account can continue.
Buying a home with a pool need not make a negative impact on your mortgage qualification. If anything, it can even help you sell much faster in the future. Homes with a pool generally appeal to more homebuyers, which means a quicker sale later on and even greater value to the final sale.
Also check with your local municipality for rules on home pool use (called Certificate of Occupancy). Keep in mind that municipalities are always revising pool regulations, so don’t count on what you may have heard from a friend or read on the Internet.