What to Know About Buying a Home with a Pool
Many people dream about having a pool in their backyard so they can jump in and swim a few laps whenever they want without having to go to a gym or public pool. However, many home buyers don’t realize all the effort that goes into maintaining a pool. Having a pool requires special care, and not knowing this ahead of time can lead to a wake-up call later on. Here is what all home buyers need to know about pools and purchasing a home with one before they take the plunge.
Homes With Pools Have Higher Insurance Rates
No one likes paying more for insurance than is necessary, but when a homeowner has a pool, they also have higher insurance rates. Even if owned by the most responsible person, pools have an inherent danger to them, especially to young children who don’t understand the risk of drowning. Pools are considered to be “attractive nuisances”, along with things like trampolines and construction equipment. In order to be considered an attractive nuisance, something has to be both appealing and dangerous to children if they try to play with it. Homeowners need to be aware that their home insurance rates will be higher because of this.
Maintenance Costs Can Add Up
In order to keep a pool in good working order, the homeowner will need to ensure that they perform regular maintenance and upkeep. This includes everything from replacing the filters to adding chlorine. Plus, the pool will need to be opened each spring and closed each fall to protect it over the winter and make it useable for the hot summers. All these little things will add up over time, and homeowners need to account for when deciding if they can afford a home with a pool.
Pools Influence a Home’s Value
What one home buyer may love, another may not, and this is especially evident when it comes to homes with pools. Pools can increase a home’s price, but they can also decrease the price. The two biggest factors that go into how a pool will change a home’s value is the location of the home and the individual buyer who is purchasing the home. A home in southern California will most likely see a boost in value from a pool due to the climate, while a home with a pool in Alaska is more likely to see a price drop. Likewise, buyers who actively want a pool will be more willing to pay a higher price for one, while a buyer who is neutral or doesn’t want a pool won’t want to pay a higher price. When purchasing a home with a pool, the buyer needs to understand what the demand for their home will be like in the future if they try to sell the home.
Home Inspections Don’t Cover Pools
The home inspection is an extremely important part of the home buying process, but contrary to popular belief, it won’t cover a pool if the home has one. If the buyer wants to have the pool inspected, they will need to hire a certified pool builder to come out and inspect it. The certified pool builder will be able to run tests and inspect the pumps, motors, and other parts of the pool to ensure that there isn’t anything wrong with it.
Having a home with a pool can be a lot of fun, and buying a home with a pool is exciting. Buyers who want a pool need to understand what they’re getting into before they sign the closing documents, and these are some of the most important places to start.