When it comes to owning a pool, people tend to fall into one of two categories: they either really want one, or they really don’t. Owning a pool can be both a huge benefit or a huge hassle. There is value in having a pool for entertainment and enjoyment, but taking care of and paying for a pool can be a lot for any family.
Most would agree that the benefits to having a pool over not having a pool tend to outweigh the work that it takes to care for it. They would say, “go for it”. But when it comes to resale value, it’s not as cut and dry. If you’re looking into a pool as a financial investment, there’s a lot to know beforehand.
Here are some pros and cons of owning a pool:
Pros:
- Beat the heat! People who live in an area with a very warm climate, like the south, will get a lot more use out of their pool than someone who lives up north. In the hotter months, a pool is a perfect way to cool off and have some fun.
- Be cool, own a pool. Everyone loves a pool party. A private pool is a great place to host birthday parties, graduation parties, summer get-togethers, and more. Plus, as an added bonus for the parents, it’s easier to keep an eye on your kids and their friends.
- Cleanliness is key. Some people get the heebie-jeebies thinking about what is in a public pool. If it’s your own pool, you can maintain and clean it properly.
Everyone else has one. It might sound like a shallow reason, but it means a great deal when it comes to property value. If you live in a higher-end area where pools are the norm, having one will help keep your house competitive when it comes time to sell. - Entertainment value. Swimming or tanning. Exercise or relaxation. Without a doubt, pools add entertainment value to any home. It keeps the kids busy, lets dad get in his workout, and is perfect for moms wishing to go for a float. Whether you’re on a ‘staycation’ or it’s just a normal day, pools are enjoyable for anyone. In fact, plenty of people who stayed home during the COVID-19 pandemic were sure wishing they had one!
Cons:
- Maintenance can be a pain. Pools are a complicated system, and there’s more that goes into their upkeep than many assume. The water has to be kept clean and chemically balanced. There are pumps, filters, regulators, and other pool “stuff” that need to be maintained. A pool will add a whole section to any chore chart.
- They are inherently expensive. It costs a lot to build a pool, especially an in-ground one, and the price can vary greatly depending on location. They also require year-round, weekly cleaning and service. All that maintenance has to be done, and the proverbial “pool boy” can be expensive. Even if you have the time and energy to be your own pool boy/girl, the cost of necessary chemicals and accessories add up. On top of that, energy bills can skyrocket. Pools need to run an average of 8-hours a day to stay in good condition, and if you heat your pool often, the costs go up even more.
- Toddlers and pools don’t go together. Families with young children aren’t always big on pools. It only takes a moment for a little kid to fall, jump, walk, crawl, or be pushed into a pool. These families might be too wary of the danger of such accidents to want to purchase a house that has one.
Home pools are entertaining, enjoyable, and private. They are also expensive, require ongoing maintenance, and can be dangerous. As a financial investment, it’s important to realize that the costs are high when it comes to building and maintaining a pool. Nicer pools might only add value to the house if you live in an area where pools are popular, if it’s well maintained, pleasing to the eye, and if you live in a warmer climate that will get the most use out of it.
Keep in mind that not everyone wants a pool. Potential buyers could pass on a pool because they don’t want to deal with the costs, maintenance, or risks. If you want a pool for yourself, go for it! Just realize that, at the end of the day, a pool is primarily a lifestyle investment, not a financial one.