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September 19, 2010 | No Comments YetTags: Buying, Selling
I feel like most of us had that one cool friend when we were younger who had the pool in their backyard. Maybe you were that cool friend, who had all the pool parties that everyone wanted to go to. However, this economy is now making home buyers think twice about pools.
An article from REALTOR® Magazine titled, “Are Pools Worth The Expense” by Melissa Dittmann Tracey, states that on average pools can cost between $3,000 to $5,000 a year in maintenance costs. While I think that might be a little on the high side it stands to reason when you factor in safety precautions if you have children or if something goes wrong with the pool.
Gone are the days that most home buyers can afford wants in addition to needs. Home buyers are paying ever more attention to the cost of owning a home which means pools are falling by the wayside. Just about a year ago there was a home for sale in my neighborhood that had a pool in the back. After talking with the Realtor® we found out that most objections to the home was the pool. I don’t know the specifics behind it but the home ultimately didn’t sell.
As with most things in life there are upsides and downsides. Pools may have some costs associated with them but they do provide entertainment and joyful memories for most. I know I still have fond memories of the pool parties I went to as a kid. It may be a little more difficult nowadays to sell a house with a pool but there is usually someone out there who would be willing to pay for it for those added memories.