Perhaps you’re thinking of taking advantage of the economic downturn to purchase a property. There’s nothing wrong with that, ‘buy in a time when everyone is selling’ or so the saying goes, right? But before you go around buying real estate properties here and there, there are quite several things to consider. Now what you should consider are far too great to cover in one sitting, so let’s just narrow it down for the meantime.
Let’s say you’re looking to buy a house, perhaps it’s your first house, perhaps it’s for investment. You’re looking for a decent-sized house in a good neighborhood. You find one at a good price, and to your surprise- it has a pool! You’ve been interested in one, and now you have it within reach! Should you grab the opportunity? Or should you pass this one up in search of better terms? Well, there’s not a single answer to this- and that’s what we’re going to be talking about right now. Let’s look at some of the things you need to consider before buying a house with a pre-installed pool.
Will It Increase or Decrease Property Value?
When it comes to property value, owning a pool is not a guarantee of high value. There a lot of factors to look at to see if it’s worth grabbing but if you’re located in a warm area, then a pool can potentially increase its value. Take a look at whether the price you’re offered is matched against your projected use for it. If you’re intending to live in said property and you want a swimming pool in the first place- perfect. If you intend to use it as an investment, think about the general location. Will the upkeep cost too much in winter? Does the swimming pool fit the general aesthetics of the neighborhood? These are some things to consider if you’re looking at the property value of a swimming pool.
Pre-built or Install Later?
Swimming pools can be very expensive to install, so finding a property with one pre-installed can be a good thing. However, like with most things, a swimming pool depreciates over time. Check first if the swimming pool is in good condition, as if it’s way past its lifespan then it won’t be much of a use. If this is the case, then installing one in a good-sized property would probably be the financially wiser decision to go after. Professional discretion is needed in this scenario. A pool inspector can inspect swimming pools to see if it needs any repairs- it’s best to check with them to see know the exact condition of a swimming pool before deciding to purchase or not.
Can You Afford the Upkeep?
Swimming pools are just like the other parts of your house- they require constant maintenance. Thus you also have to think of your own willingness to spend on this. Swimming pool maintenance can cost up to $500 to $1000 annually, what with all the chemicals or cleaning you have to do. However, you can purchase a pool-cleaning robot or make use of reverse osmosis cleaning system that doesn’t require draining the pool- all of which are good ways to save money on upkeep. While pool cleaning technology has evolved greatly over the years, your own willingness to commit to the upkeep will be the deciding factor in purchasing a house with a swimming pool.
Think of Safety
You might want a swimming pool, but is it best for you? Are you with a family with small children or pets? Swimming pools are a hazard of their own, and recognizing this danger is necessary before even owning one. You can install a safety barrier around it to prevent any accidents, of course, but the safety of your children or pets should be the priority. So think about safety. Are you confident that you’ll be able to prevent potential accidents, or would you rather not risk it? These are valid concerns that require mulling over.
Do You Have Enough Space?
Some homeowners insist on installing a pool at the cost of yard space. Whether this is a good thing or a bad thing is entirely subjective and is one of the things you have to ask yourself: are you willing to sacrifice space for a swimming pool? The average size of a swimming pool can be instead used for a home gym, or parking, or a garden, or a playground. Would you rather have any one of these or would you rather have a pool?
How Much Do You Want It?
Ultimately, the decision falls on you. For whatever reasons you want to have a pool, it’s best to think about it before fully committing to the decision. After all, thinking hard over something now is better than regretting it later.