Adding a Pool to your Home
So you've decided it's time to enjoy your summer days lounging by the pool. There's only one problem; you don't have one. Deciding to add a pool to your home can be a great undertaking, and it's important that your whole family weighs in on the decision. Will your children use it at least once a week? Or will they lose interest after the first month? Are you doing this for the enjoyment of the pool or to add value to your home? There are plenty of questions to ask yourself before adding a pool to your home. Here are a few things you should consider:
Price - A pool is an obvious expense. Not only is it a big investment from the start, but it's a monthly responsibility and financial obligation. Depending on the size of pool you're looking for, you should budget between $25,000 and $50,000. This is not just the cost for the in-ground pool, but the cover, the screen enclosures, the fencing and all sorts of minor hidden expenses you may not have thought of. Now if that original investment is making you uneasy, it's probably not the time to bring up monthly costs of $70 or more in electric, water and maintenance. Combine that with the time spent cleaning, or the cost of hiring a cleaning company and you can run over $100 per month for the life of the pool. As long as you are prepared to spend the money, a pool can be a great asset.
Return - Don't move too fast; we said it can be a great asset, but not necessarily a great value. If your family will enjoy it and have great memories there, it is definitely an asset, but you will not be regaining your full investment. If you're in a neighborhood with few pools, you may see your money in the sales price, but typically a home gets about 20 cents on the dollar in the return on investment. Pools can be tricky when it comes to selling as well, since some buyers intentionally avoid pool homes for sale in Denver CO, since they know they'll be extra time and money that they care not to spend. That being said, some home buyers are looking specifically for a pool home, so you're in luck. The rule with buyers, however, is that someone looking for a pool home would rather put a pool in themselves, than someone looking for a non-pool home taking one out.
Enjoyment - The real reason you're looking to add a pool to your home is for your family's enjoyment, and if you still see value in your decision, by all means, add the pool!
Price - A pool is an obvious expense. Not only is it a big investment from the start, but it's a monthly responsibility and financial obligation. Depending on the size of pool you're looking for, you should budget between $25,000 and $50,000. This is not just the cost for the in-ground pool, but the cover, the screen enclosures, the fencing and all sorts of minor hidden expenses you may not have thought of. Now if that original investment is making you uneasy, it's probably not the time to bring up monthly costs of $70 or more in electric, water and maintenance. Combine that with the time spent cleaning, or the cost of hiring a cleaning company and you can run over $100 per month for the life of the pool. As long as you are prepared to spend the money, a pool can be a great asset.
Return - Don't move too fast; we said it can be a great asset, but not necessarily a great value. If your family will enjoy it and have great memories there, it is definitely an asset, but you will not be regaining your full investment. If you're in a neighborhood with few pools, you may see your money in the sales price, but typically a home gets about 20 cents on the dollar in the return on investment. Pools can be tricky when it comes to selling as well, since some buyers intentionally avoid pool homes for sale in Denver CO, since they know they'll be extra time and money that they care not to spend. That being said, some home buyers are looking specifically for a pool home, so you're in luck. The rule with buyers, however, is that someone looking for a pool home would rather put a pool in themselves, than someone looking for a non-pool home taking one out.
Enjoyment - The real reason you're looking to add a pool to your home is for your family's enjoyment, and if you still see value in your decision, by all means, add the pool!
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