Adding a swimming pool to your property can add cash value and an enhanced lifestyle, but it’ll also cost you to keep it sparkling and, perhaps, some extra effort when it’s time to sell. The pros and cons are many. Home buyers love swimming pools and they hate them. The same goes for sellers. A pool can be a family oasis during swim season. Pools put small children at risk, but provide full body workouts for athletes.
With construction down, chances are, you can drive a hard bargain to have a new pool installed these days. However, it’s going to cost you tens of thousands of dollars and, because of buyers’ love-’em-hate-’em relationship with pools, don’t expect to get a full return on your investment when you sell. If you are going to add a swimming pool to your property take as much time considering and planning for the improvement as it will take the contractor to put you in the swim.
When it comes to value, get the opinion of a home appraiser in terms of how it will impact the value of your home. Even then it can be a toss up. In a community with many existing pools, a pool could boost your home’s value nearer the value of like homes with pools. In a community without pools, your return could be smaller because you’ll attract a smaller pool of buyers. The neighborhood also comes into play on the value scale. Even if you have the only pool on the block, if your neighborhood has excellent schools, is low on crime and is in a sought-after location, the pool could be a plus for the right buyer and your bottom line.
Also talk to the Stovall Team to determine how homes with pools sell. We talk to sellers in neighborhoods with both high and low pools-to-homes ratios and are able to see how they affect value and salability.
Of course, if you have a family of swimmers and plan to stay in your home many years, selling and a return on your investment is far less important. Consider that a pool will erase a large chunk of your property. It’s design must be a good fit for your family and your property.
Engage your neighbors. Ask about their likes and dislikes; what changes they’d make; how long and disruptive it was to install the pool; and unexpected costs. You’ll also want nearby neighbors to know major construction may be afoot. Pinterest at its best…start a collection of pool images collected from magazines, showrooms, online searches, your own photos and oth-er sources. Collect pool images that are alluring to you and stockpile images that contain pool features you like. The images will help you visualize the form and function you want built into your pool. After a while, you’ll see a common thread in the type of pool you desire.
What Does Home Inspection Cover?
What does your home inspection cover? And who is liable if a problem develops down the road? You need an inspection on any property you are buying, regardless if it’s old or new construction. An inspection is like a check-up for your house.
What repairs will need to addressed now and what might need to be addressed later down the road? This is what you have answered during an inspection. Having an inspection done prior to signing a contract allows you to negotiate your findings into the deal. Does the roof need replaced? The seller may give an allowance to pay for the repairs.
Keep in mind, however, that simply because a house needs repairs doesn’t mean you shouldn’t purchase it. Nearly every house will have a list of repairs that need to be done to get it “shipshape.” It is your decision to choose how much you are willing to spend and how much work you are willing to do.
There are limits, however, to what a home inspection will cover. They aren’t required to identify conditions that are concealed or are considered latent defects. That means if personal property, plants, or debris is covering an issue, the home inspector isn’t require to move those items to inspect it and isn’t liable if he misses it. They aren’t required to make determinations on systems that aren’t readily accessible.
And they aren’t required to note the presence of potentially hazardous plants and animals. That includes “wood destroying organisms” or even molds.
This means you should find a home inspector that you trust. The Stovall Team recommends you choose from our list of licensed professionals. Having a trusted inspector means that most every problem that can be identified, will be. And inspection is about peace of mind, and a good inspector gives you that.
By Steve Stovall