Let's Talk POOLS!
Friday Jun 25th, 2021
Yet again we approach another summer with lockdowns in mind (🤞) and we continue to see more interest in pools in the real estate space. A backyard oasis can be the perfect reprieve from lockdowns and insatiable little ones. Given demand in some areas, you could be waiting a couple of summers to get on a list to install a new pool, and installation costs now average roughly $70-80k.
If you ask an agent they will tell you - you need to WANT a pool! Pools are expensive to install and to maintain, and often take up a significant chunk of your prime backyard real estate. In terms of future value, they can divide your buyers, and you won’t get your investment back at resale. They do however offer a lot of enjoyment and value when well used! These days, depending on the area, a pool CAN be a draw, however it still greatly depends on the market and seasonality of your sale.
Moneysense magazine wrote an amazing and extensive article in March regarding the cost of pools and maintenance. If it’s something you are considering, I encourage the read!
💦 The average annual maintenance of a pool is $1800+ and that can vary greatly depending on the type, age, size of pool etc. Things to consider are not just the upfront costs and the obvious need of supplies including chemicals, but the impact on things like your utilities, home insurance and unexpected costs.
See full article: https://bit.ly/3dXCxNb