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. Among others, these may include maintenance, insurance and safety costs that come with pool ownership.
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 enhances a home’s aesthetics and provides a place for relaxation and entertainment, but on top of that, you have to check out many other variables before actually deciding to purchase a home with a pool. For example, is the pool screened or enclosed, or is it heated or does it have any water features? How would you describe its general condition?
In general, for a home with a value of $125,000, a pool would cost you around $8,000 to $10,000 more. These is a mere estimates, of course, and you’ll have to check with a local appraiser for a more accurate picture.
Your largest pool expense will be the weekly maintenance, which is a must, though with many pool companies that charge $50 to $75 a month for servicing, this is usually not a problem. Among other costs to consider are additional homeowners insurance, fencing, self-closing doors, pool suction devices, and safety alarms.
It is important to hire a pool inspector to inspect a pool, just as a home inspector must be hired to inspect a home. Don’t mix the two together, which means a home inspector shouldn’t be inspecting a pool.
As well, don’t hesitate to ask the seller about the company that used to service the pool. That company can tell you the quality of the pool and how much you may have to spend to maintain it.
The more you know about the pool, the better you can decide whether or not the home with the pool is worth the investment. 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). Remember, municipalities are always changing pool regulations, so don’t depend on what you might have read online or heard from a friend.
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