This is one of the most common questions that I get from clients who have not decided whether to remove their pool or not. I am not a real estate professional at all, but I read several articles on this topic and saw the effects that the pool deletes when selling property first-hand. Here is my attempt to answer this question ...
Most people would like a final answer to this question. Unfortunately, like many other factors in real estate, it depends. Below are some of the problems that I saw that affected the value of the property in relation to the basins.
This is a list of factors that may have a flat or negative effect on your home value.
1. If the pool occupies 30% or more of the back yards.
2. If the pool is over 30 years old and in need of repair
3. If the pool does not have a security gate around it.
4. If the pool is made of vinyl liner.
5. If the geographical area in which the pool is located, is less than 3 months of “floating weather”,
6. If the pool is the only one in the neighborhood.
7. If your area is currently experiencing
This is a list of factors that can have a positive impact on the value of your home.
1. The pool is less than 15 years old.
2. The pool occupies less than 10% of your yard.
3. Most of your neighbors have swimming pools.
4. Pool equipment is relatively new and energy efficient.
5. The geographical area of the basin is more than 6 months of “floating weather”,
6. The pool is completely enclosed by a safety gate.
7. If your home is considered a “luxury home”,
Supply and demand:
The current economic downturn has led to a reduction in the number of buyers over the past two years. According to real estate professionals, the best way to get deals in your home is to attract as many potential buyers as possible. In general, most families who do not want to swim are less likely to look at a house that has one because of the cost of removal. Whereas, a family that wants a swimming pool is likely to look at houses that have existing pools or enough space to install them. Another factor to keep in mind is that if you have a pool and you sell your house, this can be beneficial for you in the summer when the pools are most attractive to buyers.
Repair or removal:
If your pool needs repairs, and you sell your house, these are some suggestions that may be helpful.
1. Talk to your real estate agent and ask them a professional opinion about the impact of the swimming pool on your property.
2. Review the above list of positive results and negatives and see where you are.
3. Get 3 marks for repairing your pool.
4. Get 3 pool removal grades.
5. Compare the average 2 removal estimates compared to the repair and determine the difference.
An example where repair would be a suitable action:
Base value of the house: $ 500,000. Added value for the pool: 3% = $ 15,000.
Removal cost: $ 10,000
Cost of repair: 12,000 US dollars
If the repaired total cost will be 503,000 US dollars (500,000 + 15,000–12,000)
If removed the total value will be $ 490,000 (10,000–10,000)
An example where removal will be the appropriate action.
Baseline Cost: $ 500,000 Added Value for Pool: -2% = (- $ 10,000)
Removal cost: $ 9,000
Repair cost: $ 7,000
In case of repair, the total cost will be $ 483,000 (500,000-10,000-7,000)
If removed, the total cost will be 491,000 (500,000–9,000)
Other factors, such as landscaping and time factors, such as maintenance and collateral, should also be considered.
Personal experience
Most of the pools that I deleted are related to real estate transactions. Here are a few examples that I experienced after removing swimming pools.
1. The house in Morag was on the market for 6 months, potential buyers, as a rule, felt the same thing about the pool, that it was poorly placed and undesirable. I removed the pool and the house was deposited for 2 weeks.
2. The house in Walnut Creek, where the owners had to move in search of work, could not sell their house due to the reduction in value due to the decline in real estate. To rent a house, the insurance company decided to significantly increase the premium and set the gate, the cost of which will be $ 3,500. In addition, several tenants expressed doubts about the pool, and homeowners would be responsible for maintenance and repairs. They decided that the best course of action was to remove the pool. Homeowners had much more interest from potential tenants after the pool was removed. Most of the applicants had children and wanted to be in Walnut Creek School District, but did not want the danger or responsibility of the pool.
3. An elderly couple in Danville lived 40 years in their home. They enjoyed their pool for many years, but the cost was so high for maintenance that they considered selling their home and buying one without a pool. The equipment was over 30 years old and very inefficient, and they had to pay the maintenance company $ 120 a month for cleaning it. The total cost was $ 250 a month. They did not even consider removing the pool until their real estate agent introduced me. I removed their pool, and they were able to stay in the house they loved so much.
If you have any questions about real estate related to your pool, please call me. I would be happy to direct you to a professional real estate agent in your area. The above article is based on my practical experience in the industry, and I hope you find it useful.
