Should you get that pool?
by Addison Corbin on Feb. 16th
One of my past clients called me last week for some advice, and it was a question that always seems to come up going into these warmer months in Georgia. In the midst of her struggling to explain to me the justifications of putting in a swimming pool. She asked : Addison, do you think it would be worth the money .. if we decided to sell down the road?
Just in case anyone else is having this internal debate, let’s see if I can throw my two cents into it.
Real Estate Value!
Despite what you would think an inground pool does increase the value of your home. This is especially true, because of modern technology like salt and fiberglass have changed the game when it comes to the idea that “pools are a lot of work”. The National Association of Realtors put out an update that inground swimming pools increase a home’s value about 8%! Therefore, on a $300,000 home, one could expect to get an increase of about $24,000!
Even though we can expect an increase on the property value does NOT mean that you will be making your money back. With us understanding that I wouldn’t advise you to put a pool in the day before you sale your home. Although, if you have planned it out and plan on living in your home for many years I do think it is worth it in the long term.
NAR REPORT: https://www.nar.realtor/ncrer.nsf/files/rbsirmansmacpherson2.pdf/$FILE/rbsirmansmacpherson2.pdf
Understanding the up keep
Balancing Your Pool – Swimming pools need to have correct PH levels. Proper balancing keeps your metal equipment and accessories from corroding and plaster surfaces from etching.
Chlorinate Your Pool – Your continuous chlorine level should always fall between 1 and 4 ppm for proper sanitation and to prevent bacteria and algae.
Shock your pool – Basic shock products help kill bacteria and break down cosmetics, suntan lotions, perspiration and other swimmer wastes that can’t be filtered out of pool water.
Adding algaecide – Algaecides prevent algae from taking over the pool, and they treat algae growth if gets started.
Cleaning your pool – Daily pool cleaning consist of netting all debris in pool and also cleaning skimmers during open season.
Still not sure on what you want to do?
Here are a few Pros
Family – Swimming and being around the pool together is enjoyable and encourages family togetherness. Many family memories have been made while enjoying a backyard swimming pool and the environment that it provides.
Entertaining – Backyard cookouts become even better when you have a pool to keep the guests entertained. In addition, celebrating birthday parties, anniversaries, holidays, you name it, there is no better place to celebrate a special occasion than poolside.
Convenience – Being able to stay home to beat the heat is much more desirable than having to go to another location to enjoy a swimming pool. Nothing satisfies the mind and body more than a refreshing dip in the pool on a hot day after mowing or working in the yard.
Here are some Cons
Time – Many people are so busy that having something that they do not use does not make sense—this can be said for a motor home, boat, lake house, etc. If you are rarely at home, then a swimming pool is probably not for you.
Lifestyle – Oftentimes people think that if they had a pool, they would be home more or they would exercise more. If you really believe that you would, maybe you are correct. But most of the time, simply getting a pool does not change your lifestyle any more than buying a pair of running shoes makes you a runner.
Financial – There are several costs of owning a swimming pool. Typically pools are financed—a $50,000 loan at 6% for 15 years creates a monthly payment due of approximately $425. In addition, monthly chemical and utility costs (electricity and water) are approximately $100-$150 for the average-sized residential pool. That makes the cost just under $525-$575 per month. If you do not use the pool or could use the money elsewhere, then purchasing a swimming pool is probably not a wise financial move.