Buying a home with an existing pool can save you money on the construction of it and the hassle of having your yard torn up during installation.
Depending on the condition of the pool, an existing pool can be a good buy. It’s a bonus if having a pool is on your wish list without adding another monthly payment to your debts.
Your choice depends on your expectations — because in most cases it’s like buying a car, once it’s yours, you’ll never get the full cost back. Here’s what you need to know. When a Pool Makes Financial Sense
If you live in a higher-end neighborhood and most of your neighbors have pools. In fact, not having a pool might make your home harder to sell.
If you live in a warm climate, such as Florida or Hawaii.
Your lot is big enough to accommodate a pool and still have some yard left over for play or gardening.
Still, that’s no guarantee you’ll get a return on your investment. At most, your home’s value might increase 7% if all circumstances are right when it comes time to sell. Those circumstances include the points made above, plus:
• The style of the pool.
• Does it fit the neighborhood?
• The condition of the pool. Is it well-maintained?
• Age of the pool. -If you put a pool in today and sell in 20 years, you probably won’t recoup your costs, especially if the pool needs updating.
You can attract the right buyer if you go to sell. Couples with very young children may shy away from pools because of safety issues, but an older childless couple may fall in love with it. It all depends on your market and talking to your agent who knows your local market may help you decide.
Only the homeowner, can determine the true return on investment. A pool can add value to your quality of life and enhance the enjoyment of your home. You can’t put a price tag on that.
You should consider how much a pool costs to build and maintain. — Have questions about buying a home in our area with a pool?
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