What You Need to Know About Buying a Home With a Swimming Pool
Don’t get me wrong, I love my state, but these Oklahoma summers can be brutal! I looked at the forecast the other day and was excited when I saw a single day that had a high below 90 degrees. All of this heat has me thinking about getting in a pool or body of water any chance I can.
When it comes to home buying in Oklahoma, my clients often ask me, “Should we buy a home with a pool?’ While this is definitely a personal decision, there are a few things I walk through with people who ask.
Costs and Maintenance
It’s not a shocking revelation that pools cost money and take time. The sparkling blue water doesn’t just happen by itself. So, when thinking through buying a home with a pool or having one installed, be sure that you are willing to invest both your time and your money. Just how much depends largely on the type of pool you have.
However, Home Advisor estimates for basic pool upkeep you can, “expect to spend between $1,200 and $1,800 per year in basic upkeep. Combined with swimming pool repairs and utilities, homeowners can spend as much as $3,000 to $5,000 per year to keep it in good, working condition.”
Types of Pools
Here are a few common types of swimming pools to own:
Gunite - This is probably what you’re picturing when you’re thinking of pools in Oklahoma. It’s made of concrete and sand and can be poured in about any shape imaginable.
Vinyl - These pools are typically rectangular and have the liner that you’ve probably seen before. These vinyl linings must be replaced about every 10 years.
Above Ground - Lastly, above-ground pools are just what it sounds like: pools not dug into the ground. This is the cheapest option, but also doesn’t add much value to a home.
When it comes to types of water in the pool, there are also saltwater pools and chlorine pools. Both of these have varying costs and varying levels of upkeep and maintenance. Find some pros and cons of both here.
Home Resale Values
Next, when it comes to purchasing a home with a pool (or having one installed) it’s extremely important to think through home resale values. According to the National Association of Realtors, an in-ground pool adds about 7.7 percent more in value to the home's market value. This is great news for those of you wanting a home with a pool! So, even though there will be costs in association with the pool, it may pay off when you sell the home in the future.
However, an above ground pool often doesn’t add any value to a home. In fact, some buyers request that the pool be removed before closing.
Also, it’s important to keep in mind that all pools are not equal. Pools that have features such as waterfalls, hot-tubs, fake beaches, and more could all add value. Often buyers are looking for a peaceful backyard, and these features can contribute to that.
Safety and Fun
Finally, there are two opposing things to consider when buying a home with a pool: the dangers and the added fun.
On one hand, having a pool introduces the danger of potential drownings, especially with small children around. In fact, according to the CDC, from 2005-2014, there was an average of 3,536 fatal unintentional drownings (non-boating related) annually in the United States — about ten deaths per day. If you’re considering purchasing home with a pool, you must also be ready and willing to accept the responsibility of keeping people safe.
On the other hand, having a pool can make your house the place to be. If you love people and have the gift of hospitality, having a pool can be a dream come true. Picture pool parties, backyard bbq’s, and more!
So, don’t let the facts scare you off from having a pool if you truly are up to the responsibility and are eager to have some fun and cool off in this heat!
Next Steps
If you’re considering buying a home with a pool, hopefully, this has given you some insight and things to think through. Feel free to reach out anytime at traceyrice@kw.com or 405-226-3770. I’d love to help you find the perfect home for you, with or without a pool!