In the age of coronavirus, many buyers were seeking a pool but is it the right decision for you? If you live in a warmer climate, a pool can increase your property value and make it more likely to sell your home. A home with a pool is a dream-come-true but you are wondering if the cost might be more than you thought.
Does a swimming pool add value to your home?
Many experts say having a well-kept pool can boost your resale value, especially an in-ground pool.
Pools aren’t cheap to build
The average cost in the U.S. to install, equip, and fill a 600 square foot concrete pool starts at $30,000. Gunite is the most popular in-ground pool. Fiberglass shells and those with vinyl liners fall on the lower end of the budget scale and liners typically need replacing every ten or so years.
Cost to maintain a pool
The average cost for basic pool maintenance annually is $1,200 to $1,800 plus any needed repairs, utility costs if you use a pool heater. Upkeep will require buying and adding chemicals to maintain proper pH levels and prevent algae growth, having the pool vacuumed and cleaned regularly during swimming season, and purchasing accessories like telescoping pools and attachable brushes and leaf skimmers.
Insurance costs can increase
A basic homeowners insurance policy typically covers a pool.
Property taxes can increase
The value of your home will increase and therefore property taxes are likely to increase.
Rent a pool?
With many people staying close to home these days, sales of swimming pools have surged.
But what if you could use someone’s pool for a few hours and pay them a rental fee? swimply.com is an app that allows homeowners to list and rent their pool for an hourly fee.
Maybe you have a pool but don’t use it often. Why not rent it?
Decisions to make
The decision to build a pool or buy a home that includes one shouldn’t be taken lightly. Think carefully about when and how much you intend to use it. Explore the extent to which it can factor into your entertaining and recreational plans, and determine if you’ll have the means and local resources to keep the pool operating in good condition.