Considering we are in Southern California and have some of the best weather in the world, I thought it would be a good idea to give some insight into pool homes and help answer the question, “should I buy a pool home,” or not. Many of my blog posts come from the monetary or investment side of Real Estate, so for the people that have no interest in their home value or return on investment, this blog post might not be exactly for you. I am a Real Estate Broker in Temecula, California and I have had the luxury of spending years learning home values from my wife, who is a residential appraiser and love passing information on through video and articles.
For home buyers in the Inland Empire, should you buy a home with a pool or put your own pool in yourself? In Southern California especially, this is an important topic for many people. Again, because of the weather pools are very prevalent and many buyers have this dream in the back of their mind of owning a home with a pool.
So you are now a proud owner of a new home that you have fallen in love with. It has a nice backyard and you decide, “I am going to put a pool in!”. I’ll make this short, be ready to take a hit on your investment. Generally speaking, if you spend $60,000 on a pool expect to get $15,000 back on the resale. If you buy a home for $400,000 and put a pool in as soon as you close, your home is not automatically worth $460,000. If your home does have a value of $460,000 there are other factors in play, like the market increasing.
What’s The Solution?
If I have buyer clients that really want a pool, my advice is to find a house that already has an existing pool. Instead of you taking the hit, why not take your time, find a home with a nice existing pool and let the seller take the loss?. Again, because we are in Southern California many homes have pools. If you have patience and jump on pool homes quickly as they become available, you will save a lot of money in the long run.
Well I want a specific Type Of Pool
If you are a buyer that just needs to have a specific pool, then here is what I suggest. Do lots of research and reading, learn the ins and outs of pool installation and types. Don’t rush your decision, talk to many contractors and pool companies. In the end, this might be a project you’ll even want to take on yourself and be the general contractor for the job.
Is Putting in a Pool Ever a Good Idea?
I will say that there are some instances where a pool brings more value than the average situation. This is where you have to have a competent agent that understands comparables and is able to competently research the community and find out what value a pool will actually bring. An example might be an area of Temecula or Murrieta on a golf course or view homes in Riverside. It’s very warm in these areas in the summer and if most of the homes have pools, and buyers are willing to pay up, it might not be a major hit on your wallet in the end.
So the general rule of thumb is to buy a home with a pool but if you are the home buyer that needs to put in their own pool, make sure you have a knowledgeable, resourceful agent to find areas that pool homes are worth more.
Finally, you can’t forget the pool upkeep and cost. I do see many people with gorgeous pools in their backyard which are rarely used. This is something that you should discuss with whoever is involved in buying the home. It is an extra expense and responsibility which will become quite annoying if the pool is never used
Thank you for reading, if you are in the market to purchase a home we have a wonderful VIP buyer program that will save you a lot of money on your purchase. If you would like to read more about it please visit http://exploringtemecula.com/why-buy-with-us/