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Swimming Pools and Re-sale Value: a Dip Off the Deep End
Building a swimming pool is an expensive project that isn't always recouped in the sale of a property. Before buying into a house with a pool, or heading into a costly pool addition, consider why pools are not such a swimmingly easy sale.
Swimming pools can be a status symbol for homeowners, but for most realists out there looking to buy into a solid investment, pools present more problems than they do evoke visions of the perfect pool party.
There are many elements that can collectively spell out a turn off to buyers considering the purchase of a house with a pool.
One aspect is that buyers are savvy to the cost of maintaining a pool and the daily work involved to keep it clean and safe. A pool means purchasing chemicals for up-keep and other equipment like pool vacuums, dip nets and covers. These costs will add up and they will not stop. There is a never ending amount of up-keep to care for a swimming pool.
There is also the question of insurance. Will the cost of your homeowner's insurance change with owning a pool? Will you need extra liability coverage?
A pool can be a constant concern in terms of liability. It will need to be well fenced in and always locked when unattended. Likewise, when children are swimming in the pool, an adult who can swim will always have to be near and on watch. You have to consider how you will keep out uninvited guests, like neighbourhood kids. You can end up being liable for anyone who enters into your pool. Drowning is the number one cause of death for children under the age of five in Florida. Consider this, and you might not need to read any further to make a decision on buying into a house with a pool.
Generally for re-sale, a property with a pool limits your number of potential buyers. Families with young children may be hesitant about safety concerns. Older couples may dislike the idea of having to try and maintain it themselves, or hire someone to do it. Young professionals may just see it as a nuisance and something they will tend not to use with their busy lifestyles.
Another point to keep in mind is the size of the pool in relation to the remaining yard space. For re-sale value you should still have a decent chunk of land for a front and back yard. If the pool takes up too much green space it becomes even more of a deterrent for potential buyers.
Swim in safe waters when making a decision on installing a pool or buying into a property with a pool. Space, privacy and freedom are key elements to a well landscaped yard with good re-sale value. Perhaps in the days of yore, a pool spoke to these core values, but by today's standards a pool is much more likely to infringe on them.
About the Author
Written on behalf of Eric Bramlett, an agent servicing the Austin real estate market. Eric provides elite service and information to clients interested in Lake Travis real estate.
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