North Carolina is known for summers that are quite hot and humid, so it is very tempting to add a pool to your home as the seasons change from spring to summer. In the past year, many consumers have been taking the leap and installing a pool in their yard during COVID-19 and continuing into 2021. But does a pool add value to your home? Let’s take a look at the pros and cons of pool ownership.
During the height of the pandemic and statewide lockdowns, many consumers decided to use the funds that they would normally use for travel to install a pool, to have a place to beat the heat at home. Owning a pool means that there is an instant activity source, as well as a spot for friends and family to enjoy in your own backyard.
Many neighborhoods in the Triangle area have a community pool or a fitness center with an outdoor pool for recreational purposes. However, there is often a membership cost associated with usage and it may require a short drive to get there. Many of them also have hours designated for swim team practices and are closed to residents during those times.
Great for exercise
Not a fan of running? Swimming is a great way to maintain cardiovascular health without a lot of impact on the joints. Having your own pool means that you have the ability to swim laps or do some water-based strength exercises whenever it is convenient for your schedule, and you are not left at the mercy of the facility’s hours or capacity limits.
Adds value for buyers seeking a home with a pool
Over the past year, many buyers have shifted their preference to a home with a pool, as they are looking for ways to enjoy the summer without having to leave their home or travel. These buyers are willing to pay a higher price for a home that already has a pool to avoid the high cost of installing one on their own.
Provides a stress relief space
Water has a calming effect on the human body, and having a pool in your backyard gives an additional space outside your home to relax, take a breath, and de-stress from daily life. Even lounging near the water at night can have a calming effect on your mood.
Expensive to maintain
Owning a pool requires constant maintenance and continual cleaning. Whether you hire a professional service or maintain it on your own, it is still an ongoing expense to take into consideration. Expect to spend anywhere from $1,200 to $1,800 per year on pool upkeep, which will likely rise this year due to a chlorine shortage.
If you have children, a pool can be a source of significant danger and requires additional fencing and gates to ensure that little ones do not wander near the water’s edge without supervision. Swimming lessons for children that live in homes with pools are a great way to reduce the risk of drownings.
Increased insurance costs
If you decide to install a pool, your homeowners’ insurance premiums will likely increase. The majority of policies also require you to have a fence around the pool and avoid including a diving board. It is also important to note that you are legally required to provide a safe swimming environment for any guests, which in the event of a pool-related accident will likely be examined by an attorney.
Can deter some buyers
There are some buyers that prefer not to have a pool and would avoid purchasing a home with one due to the cost of maintenance. While the pandemic has shifted some homebuyers’ mindsets to prefer having a pool, others maintain that they would skip viewing a home with a pool, as they see it as more of a hassle than a benefit.
The question of whether pool ownership makes sense is highly subjective and based on the individual homeowner’s preferences. If you are looking for a one-stop shop for summer entertainment in your own backyard, installing a pool may be an excellent option. However, if you do not want the responsibility and expense of maintaining the pool, you will want to consider other entertaining spaces for your backyard.