iBankCoin
Joined Dec 27, 2015
231 Blog Posts

True or False: Building a pool increases home resale value

We all dream of being able to step out our back door, and cool off in a pool. Pools are great for families. Why leave the house, looking for a lake, or public pool, when you can go out back. You can have great family get-togethers, barbecuing, just enjoying each others company.

 

Does a pool increase the value of your home?

This can be tricky, because it depends on where your home is, and the size of the pool. In the right circumstances, it can increase the value by 7%. This is when you live in a high-end neighborhood where everyone has one, or somewhere like Florida, Arizona, or Hawaii, where a pool is almost required. If you have a big pool that takes up the whole yard, that can hinder its resale possibilities. These are things you must consider before installing a pool.

 

Do the bonuses of having a pool outweigh the costs?

This all depends on you. Do you love to swim, and hate traveling to find somewhere? Do you have a large, and extended family? If not, you may not want the added expense and chores involved. However, a pool can be a great asset to a family. It encourages togetherness, with parties, and playing games poolside. It gives the kids something to do over the summer break. Parents can sneak out for a late night swim after kids go to bed.

 

What kind of pool should you get?

There are several options for pools. You can get a round or oval above ground pool. These work best if you can have it off the deck of your back porch. No one really wants to walk way out in the yard and climb up the ladder to jump in. These are great for those on a limited budget. Inground pools can usually accommodate more people, and last a lot longer. Concrete slabs are usually poured around them to allow for sunbathing chairs, patio sets, and grills. This is an option for those in nicer neighborhoods, as well as Hot weather climate states, where they will be used most of the year.

 

How do you pay for your pool?

Above ground pools are easier to pay for. Some use their income tax refunds, others save up over a couple of years. Inground pools are a bit more expensive and can run in the range of $30,000. Not many people that cash laying around. So how do you go about financing inground pools? There are a few different options. Sometimes, where you buy a pool does financing, such as a fiberglass pool company. You can go to your bank and see if you can take out a personal loan, which would be unsecured, at a higher interest rate. The best option is to get a secured loan against the house, at a lower rate.

Hurry up and get your backyard ready to many many years of fun in the sun. Your family will love you for it. Make sure to have everyone pitch in and help with the pool, so that they know what the upkeep is, and appreciate it a little more too. Have a great Summer!

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