This time of year I love sitting down on the couch (after the kids are in bed), and watching one of my favorite Christmas movies, Christmas Vacation. It’s a classic. I could quote the whole thing. Like Clark Griswald, you might be dreaming of using that Christmas bonus to install a new pool for your family to enjoy in the spring. But, is it worth the investment?
You are in luck because I am going to shed some light on the subject.
“but that does not mean it’s not a good investment for you”
Nothing is more carefree and relaxing than hanging out at your very own backyard pool on a hot summer day. But what are the real costs of a pool and what kind of return on investment can you expect by installing a pool? Spoiler alert! You are not going to get your money back, but that does not mean it’s not a good investment for you.
Let’s do some quick math:
Cost installation = $40,000
Yearly costs = $5,000 (10%-15% of the installation costs according to the Wall Street Journal)
Value added to your home = $15,000
So over 10 years, your total ownership cost would be $40,000 + $5,000 x 10 yrs – $15,000= $75,000.
“If you are going to use it often your cost per use goes down considerably”
$75,000! Whoa! That’s a lot of dough! But wait. Like I said, this might be an ok investment for you. How much time do you expect to spend out at the pool? If you are going to use it often your cost per use goes down considerably. With that brand new resort now in your own back yard, you could postpone those vacation plans for a few years to offset the pool costs.
“If you bought a home that already has a pool, that is like getting a $25,000 discount”
Pool costs too much to swallow? Don’t worry. There are alternatives. You could move to a house that already has a pool. Remember pools add about $15,000 to the price of a home. If you bought a home that already has a pool, that is like getting a $25,000 discount vs installing a pool at your house now. Or you could move to a neighborhood that has a great community pool. Yeah it’s not right outside your window, but HOA dues are much easier to handle, financially, and there are a lot of great choices when it comes to community pools in the North Texas area. Or, get a waterpark membership. If you (or your kids) are thrill seekers, try a 72 ft free fall water slide like Der Stuka at Six Flags Hurricane Harbor.
You have many choices when it comes to pools, so stop drooling on the window, Clark, it will be summer soon! If you need help finding a house with a pool or you are ready to sell your backyard oasis home, give me a call today.