Why You Should Think Twice About Buying a Home With a Pool
Home and real estate renovations show that backyard pools almost always paint in a positive light, but they come with significant maintenance, repair and insurance costs that you might not think about when buying a home. Whether you are planning to install a pool – which is a bad idea if you are trying to get your money back by increasing property values – or you are considering purchasing a home that already has one, here are a few things to consider. intelligence.
The first thing you should know is that Google significantly underestimates the “average” cost of setting up a pool. In a 2018 interview with Forbes, bikini pool and spa owner John Hutchings explained that all Google results advertising spending in the $ 10,000 to $ 20,000 range are “[J] just a way to put a salesperson’s foot in the door.” The actual amount is close to $ 50,000 – and that’s for easy installation. Additional items such as lighting, fencing, decking, landscaping, and high-tech mechanical systems can easily add a total cost to $ 100,000 or more.
In addition to the huge upfront costs of installing a pool, many homeowners forget the significant cost of maintaining and repairing it. Repairing cracks, re-sealing cladding, repairing siding and stairs, regular cleaning, chemicals, filtration systems, spare parts such as pumps. not to mention professional work – it all costs money, and that’s not even counting your water bill. HomeAdvisor has detailed guides for pooling maintenance and repair costs , each with its own calculator to help you estimate weekly, monthly, and yearly costs. According to them, monthly maintenance will cost you between $ 80 and $ 350. Repair costs vary depending on the size of the project, but a single incident can easily cost $ 1,000 to $ 2,000 or more.
Finally, keep in mind that the pool will almost certainly increase your homeowner’s insurance premiums. Bankrate.com advises talking to your insurance agent to make sure your policy covers damage to the pool itself as well as any personal liability. (If someone enters your pool and gets injured – or drowns – you will be legally liable whether you invited them in the first place or not.) This is one of the rare cases where a personal umbrella policy can make sense for money. …
If you decide that having a pool is worth both the initial and ongoing costs, go for it. Just make sure you are going to shop with your eyes open, especially if you live in an area where you will only be able to use it during warmer months. The rest of the time in your backyard, it will be just an eyesore.
This article was originally published on June 7, 2015. It was updated on April 13, 2021 to reflect changes in maintenance costs and current Lifehacker style guidelines.