Take a look at Google Maps in some parts of the country, and you will find serene spots of backyard waterways polka-dotting the map. Pools are a highly desirable property attribute for homebuyers, and the pool homes listed on a real estate marketplace can definitely garner a lot of attention. Nevertheless, there are a few things to know about a pool home for sale before you make an offer.
1. How much are the property taxes?
Homes with pools can naturally have a higher price point, which means your property taxes every year can be higher. Work with the real estate agent to determine what the tax rate is for the area, and use that to find out how much annual taxes will be. Most mortgage lenders now configure this added ownership expense in with your monthly house payment so the taxes are always paid, so higher taxes means a higher monthly payment. Make sure you are comfortable with how much the property taxes will change your payments.
2. How much is pool maintenance every year?
Owning a pool to use as your personal backyard oasis is highly rewarding for most homeowners and well worth the costs of maintenance. Nevertheless, you will want to make sure the annual maintenance costs align with what will be your new budget with the new house payment. Remember, the larger and more intricately designed the pool is, the more maintenance it may require and the higher those costs can be every year.
3. What safety mechanisms are implemented?
Pools obviously pose their own unique safety risks, especially if you have family members who can't swim or have small children at home. However, modern-day pool accidents are far less common because these implements can be outfitted with all kinds of mechanisms to make them safer to be seated on a residential property. For example, you may find a pool home for sale that has the following features:
- Fully enclosed with a gated fence
- Motion detectors in the pool that are attached to alarms inside the house
- A cover that completely conceals the pool when not in use
Find out what safety mechanisms the pool has that is on the property, determine what upgrades you may need to make, and how much that investment will cost as the homeowner.
4. How much is homeowners insurance?
It is always a good idea to get a few price quotes on home insurance before you buy a home, just as you would if buying a new car. Pool homes may have slightly higher insurance rates because a pool can pose some property liability concerns. For most, the added expense is a worthy investment, but this is something you should know before you make an offer on the house.