Tips for Buying a Home with a Pool To buy or not to buy a home with a pool is a personal decision, but there are various factors to take into account, having a big financial impact in the short and long run. Among others, these can include insurance, maintenance and safety costs associated with pool ownership. It’s obvious that a pool adds value to a home, but how exactly? Data is unfortunately scarce, but location is a big factor. Thus, to be absolutely sure, pick an area that will not hurt your cause, in the event that you decide to sell your property later on. 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 enclosed or screened, heated or equipped with water features? What is its general condition?
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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.
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Costs 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. Among other costs to consider are additional homeowners insurance, fencing, self-closing doors, pool suction devices, and safety alarms. Pool Inspection Just as a home inspector inspects a home, a pool expert should inspect a pool. Don’t mix the two together, which means a home inspector shouldn’t be inspecting a pool. Also, remember to ask the seller which company used to service the pool. That company would know the pool best and can check its quality and estimate its upkeep costs. 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. Conclusion Buying a home with a pool does not have to impact your mortgage qualification negatively. If anything, it may even help you sell faster. Homes with a pool often appeal to more homebuyers, meaning a faster sale later on and even more 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). Keep in mind that municipalities are always revising pool regulations, so don’t count on what you may have heard from a friend or read on the Internet.