Owning a pool may seem cool, but your wallet may not think so. Going on vacation has been more difficult than usual. Some people may still be concerned about travel safety, and almost all airlines have already cut schedules, meaning that most are running fewer flights amid the coronavirus pandemic.
Hotels and Resorts are limiting the ability of guests to maintain social distance. With these concerns, more and more people are trying to turn their own homes into a private and safe haven. The pool industry has recently seen an increasing demand for its services, probably due to uncertainty surrounding travel and the reopening of beaches and vacation destinations. This demand includes small inflatable pools, but an increasing number of people are looking to add permanent pools to their backyards.
Most people know that swimming pools are expensive, but how much do they really cost?
When it comes to installing a pool, there are several factors to consider, including excavation costs, size, materials, heating and any extras (waterfalls, slides, etc.).
Depending on the decisions made by the owner, they can greatly affect the cost. For ground pools, costs can start as low as $ 20,000 (on vinyl), reports Home Advisor, a website specializing in residential projects. Pools buried using concrete can start at around $ 35,000 and reach $ 100,000 or more. Meanwhile, above-ground pools generally range from $ 1,500 to $ 15,000, depending on the model and where it is being installed.
One should also be prepared to an increase in home insurance. In Florida, home insurance is mandatory in case of property financing, although it is highly recommended to insure your property against theft, flooding, hurricanes and any problems with neighbors.
Obviously, swimming pools require maintenance, which can have an annual cost ranging from $ 500 to $ 4,000 per year. These costs can include cleaning the pool, maintaining water, electricity costs and any winter equipment needed for the off-season.
Although swimming pools are expensive to install, they generally affect positively the value of a home. Some homeowners may be more willing to pay for the installation of a swimming pool because they believe it will give them a return on their investment when they end up selling. Which is a truth.
But consider the following:
Although swimming pools are attractive to some buyers, they can alienate others. Families with young children, for example, may be afraid to buy a house with a pool. Others may not be interested in assuming the annual expenses that accompany a swimming pool. Positive point! However, according to the American real estate market, YES, a fixed, buried pool increases the value of your home. This is especially true because modern technologies, such as salt and fiberglass, have changed the paradigm that “pools are a lot of work“.
A few years ago, the National Association of Realtors in the United States stated that, on average, a buried pool will increase the value of a home by 4 to 6%. Therefore, in a $ 500,000 home, you can expect to receive $ 20,000 to $ 30,000 in additional value when purchasing a pool home. This does not normally cover the entire cost of designing a pool, but it certainly makes up for the difference. Do you want to know how much a Florida pool house costs or are you interested in some other types of property?
Talk to Florida 360 Realty, a real estate agency specializing in real estate and business in the state of Florida.
Source: foxnews.com – riverpoolsandspas.com
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