The Pros and Cons of Purchasing a Property with a Pool
It’s definitely another hot summer here in Austin, Texas. We’ve made it to August, which means we’re well underway the hottest month of the year. Those hot temperatures can really leave summer time home buyers finding themselves attracted to in ground swimming pools. This summer, I’ve been surveying my clients about their pools. If you’ve got clients who are interested in purchasing a home with a pool, check out the list of pros and cons below.
Besides the fact that pools are a great place to cool off and exercise, there are other attractive points to having a pool in your home.
1. Hours of fun for the kids (and dogs): If you’ve got kids in the home, your place will quickly become the cool place to hang out. Nothing wears out kids like hours of swimming in the pool.
2. Private place to host BBQs or pool parties: If you run around with a big group of friends or family, you’ve probably found yourself frustrated trying to fight for chair and BBQ space at the local apartment pools or community pool areas. A pool in the house offers a perfect solution for both adults and kids to enjoy a private place to cook out and cool off.
3. Installation and insurance costs: Having a pool installed is much more affordable now than years ago. The feedback I’ve also received is that insurance premiums aren’t as bad as one would assume. The average premium increase is only about $100 a year.
4. Looks awesome in your home: Pools absolutely add a touch of luxury to your house, which will give a homeowner a leg up when they are ready to sell the property. Another reason an already installed pool is attractive is because it is less costly than installing a brand new pool.
5. Boost STR bookings: If a buyer is looking to purchase a property for short term rental use, a house with a pool with certainly increase bookings. Nothing sells “summer vacation” like a private swimming pool.
While the list of advantages to having a pool can be ongoing, there are some cons that should be taken into consideration.
1. Upkeep: The more you use your pool, more maintenance will be required. Specifically, lots of time and resources will need to be put into chemicals and pool care knowledge. Repair costs can also quickly add up.
2. Health: If you don’t take care of your pool, health and safety issues can occur.
3. You may not receive back the amount invested in a pool: For example, if someone spends $25,000 to install a pool, they cannot just add $25,000 on to their asking price when it comes time to sell the home. All home upgrades and renovations equate to what the current market demands are in your area.
4. Safety: A pool owner is responsible for the lives of all of those swimming in their pool. Ensure proper precautions are taken if you will not be present while others are swimming in your pool.
Pools are certainly a beautiful addition to a home. As with any investment, it’s crucial to do research to determine if it’s a right fit for the family and the property. If it is, then go for it!