Tips for Buying a Home with a Pool
Deciding to buy or not to buy a home with a pool is a personal choice, but there are plenty of factors to look into, that will have a huge effect over the short and long term. These could include safety, insurance and maintenance costs, among others.
Without a doubt, a pool adds value to a home, but how in particular? 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 boosts a home’s aesthetics and offers a place for entertainment and relaxation, but besides that, you need to look at many other variables before finally deciding to buy a home with a pool. For example, is the pool screened or enclosed, heated or with water features? How would you describe its general condition?
Generally speaking, if a home was valued at $125,000, a pool would cost you an extra $8,000 to $10,000. Of course, this is but an estimate, and checking with a local appraiser is best for more accuracy.
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. It’s wrong to mix the two, so don’t make a home inspector inspect a pool.
Also, don’t hesitate to ask the seller which company they hired to service the pool. That company knows the actual condition of the pool, as well as the costs required to maintain it.
Knowing more about the pool helps you make a wiser decision as to whether or not you should buy the property. Of course, the company would likely be happy to work with you too, as it would mean that the account can be continued.
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.
Check with your local municipality as well to know the rules on home pool use (this is called a Certificate of Occupancy). Take note that municipalities tend to change pool regulations every now and then, so don’t depend on what your friend says or what you might have read on a website.
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