Monday, June 12, 2017

Thinking About a Pool?

Many Americans still long for a dip in their own backyard pool – but does the cost of a pool match its long-term value? The truth is every homeowner is different and the perceived value of a swimming pool varies from one buyer to the next.

The Cost

Although the cost will vary depending on where you live and how big of a pool you want, the Wall Street Journal reports you should probably budget between $25,000 to $50,000 for an in-ground pool. The initial investment goes up from there when you add landscaping and fencing, furniture, umbrellas, etc.
Additional ongoing costs you should be aware of include an increase in home owner's insurance, a tax increase, maintenance expenses like opening/closing the pool and heating.

Swimming Pools Add Value & Limit Your Buyer Pool 

Pools can add value to your home. That being said, a swimming pool could limit your home’s selling power.  Buyers with small children may see your home as an accident waiting to happen. Others may not want the annual maintenance fees, homeowner’s insurance, and tax increase that comes along with the amenity.

Do Your Research

Answer these questions before put in a pool:
·         Can you afford the annual maintenance costs?
·         Are you willing to invest in landscaping? Buyers want the whole experience of a pool which includes landscaping, patios, or other additions to the backyard.
·         Is there a community pool nearby? If there is, buyers may not perceive the pool as valuable.
·         Are you willing to take on the risk associated with owning a pool?
·         Are you going to live in your home for another five years?

Once you’ve asked yourself these questions, it’s smart to get an appraisers opinion and talk to a real estate agent familiar with your neighborhood.    Article from Wiseagent.com

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