If you asked most people if they would like a pool with their house, their first impulse would be to answer with a resounding “YES!”
At first, a pool seems like a great idea, but, on second thought, a pool might not be right for everyone. Owning a home with a pool poses different risks and benefits and all of these should be considered before buying a home with a pool.
Potential homeowners see a pool as an added advantage, and the seller uses this to ask for a higher price. While a pool can be an asset, it comes with a cost. Take a look at the pros and cons and decide for yourself whether a pool is an asset or a liability.
Increases the value of the home
A pool increases the value of your home especially if you live in an area where the climate is warm all year round. Some buyers prefer a home with a pool extras like a slide and beautiful rock formations while others like it bare. The pool can be a bargaining chip to get a better price for the house if you are selling it.
A swimming pool is one of the best social assets you can have in your home. It’s an entertainment area and fun for your family and friends. Imagine throwing a party during the summer when everyone can swim at your house.
Great for exercise
A pool is good for your mental and physical health. If you are a swimmer, the swimming pool can be a great exercise area for you. It can be a fun form of exercise and some of the best family moments happen by the poolside also. The swimming pool can be a great form of exercise for elderly, pregnant and injured people.
The costs of a home with a pool are not limited to the price of installation. The pool has to be treated with chemicals and cleaned regularly to avoid bacteria and algae from infesting the pool. Even if you can do the cleaning yourself, you still have to pay for the chemicals.
Can make the house less marketable
If your home has a pool and most of the homeowners around don’t, it can be a downside. Not all homeowners want a pool. Some view the expenses of maintaining the pool as a liability.
Different homeowners view a pool differently. If they have children, they may consider the swimming pool to be an unnecessary hazard. Some parents live in fear of the children drowning in the pool. Also, imagine explaining to your neighbor what happen to their cat if it passed away in your pool.
Takes up valuable space
Depending on what kinds of activities the homeowner likes to do, the pool can be seen as a bad thing if it takes up too much valuable yard space. If people have other activities they would rather be doing than swimming, such as sports and other forms of entertainment, the pool can be a liability.
The pool represents a hazard on your property. This drives up the cost of your home insurance. You can put a fence around your pool and have a locked gate to limit random access to the pool to try to mitigate some of the insurance costs.