Owning a swimming pool is the realization of a dream for many home owners.
This time of year is undoubtedly when the advantages of pools are most apparent. There’s no better way to cool down on a very hot day, swimming can improve your fitness levels and a pool is a wonderful central attraction when entertaining. Plus the kids/grand kids just love it, of course.
But there are inevitably some pros and cons to consider before taking the plunge, as it were, and having a pool installed.
One of the most common assumptions is that a pool will add value to any home. In reality, however, there are a lot of upfront costs associated with construction and installation (generally reckoned to be in the region of $20,000 depending on the specification), regular maintenance can be costly and home insurance premiums will inevitably also rise.
It therefore doesn’t follow that your home valuation will account for all those costs, especially if you quickly decide to move again.
On the other hand, having a pool arguably saves money in that you might feel less inclined to travel and spend money on other forms of entertainment. Plus there’s also the non-monetary aspect of the potentially huge improvement in the quality of your life at home.
When the time does come to sell, it’s important to remember that although you might prize a pool as a tremendous asset, some buyers will not be interested in owning one and, in those circumstances, will tend to view the annual expense of pool upkeep as unwelcome. For many others, however, it could be the deciding factor in your favor compared with other similar homes that lack a pool.
If you’re nervous about a permanent pool installation, don’t overlook the possibility of buying an above ground pool, which can be easily assembled for the summer months and then packed away until the next year. These also don’t have any home insurance implications as they aren’t treated as an additional structure by insurers. There are some quite sophisticated options available these days, and for a fraction of the price of a built-in pool.
In the end, it’s perhaps best not to think in terms of a pool as some kind of investment for when you sell the home. It can be a fantastic addition to you and your family’s lifestyle and that should arguably be the determining factor in most cases.
As always please don’t hesitate to contact us at The Hyland/Schneider Team at 928-445-2100 if you have questions on any aspect of real estate.