Cost vs. Long-Term Value of Swimming Pools

If your idea of the perfect backyard involves lazy days floating on a raft and sipping margaritas or your kids splashing around and having the time of their lives, it is likely that you have considered building a swimming pool.

Many homeowners believe a swimming pool can boost their home's value significantly, but it's not the case all the time. It is recommended that you explore the cost vs. long-term value of swimming pools first so you know what you are getting yourself into.

According to home improvement site Fixr, the average in-ground swimming pool costs around $21, 919. But that only covers the building of the pool. Remember that you might also need to spend money on swimming pool repair at one point or another.

In addition, it pays to also keep in mind that you will have to spend money on its annual maintenance. If anything, swimming pools can be a great investment if you live in the right place and it is the right size.

Considering a Swimming Pool? Key Factors to Keep In Mind

Cost

At first glance, a swimming pool can seem like a wonderful addition to any home. However, getting one would make more sense if you live in a warm climate or an area with temperate and fairly short winters.

Similarly, investing in one would be much more appropriate if you live in a high-end neighborhood. Since there is a huge chance other homes in the area also have a pool, you won't be left behind if the time to sell your property comes.

According to HomeAdvisor, the cost of building a swimming pool can range from $14,112 to $41,424. The average cost sits at $27,588. The figures account for both the above-ground and in-ground swimming pools.

Now, let's examine the cost of maintaining and running a pool. Depending on the type and size, the filtration and heating will cost you around $8,000. However, that's not all. There are also other extras you need to keep in mind. For instance:

• Diving board: $300 to $5,000

• Enclosures: $4,800 to $14,300

• Pool covers: $300 to $2,000

If the cost deters you, but you still want to have one, consider getting a smaller one instead, perhaps a plunge, lap, or cocktail pool. The material you will use can also greatly affect your overall cost.

While concrete is considered more durable, it will cost more than a pool lined with tile or vinyl. Using fiberglass shells can cut your cost by as much as 50 percent. Moreover, going above ground instead of in-ground can help you save even more.

Resale Value

While it's safe to assume a pool can increase the value of your home, it is important to set expectations right—it might not be as lucrative as you think. There is even no guarantee you will get your investment back, according to HouseLogic.

On average, a swimming pool can only increase your home's value by as much as 7 percent. Of course, as mentioned earlier, there are several factors to consider, including your location.

Undoubtedly, if you live in a posh area with a warm climate, having a pool can surely help your property get noticed. However, it is also crucial that you have some space in your backyard left for other activities.  

Other factors that can help determine if you will get a good return on your investment include the type of pool you have, the condition of your pool, and its age. Buyers might pass on your home if you have a pool that is old and in poor condition.

Also, while you love your pool, remember that not everyone will feel the same way. Case in point: couples with young children often consider swimming pools a safety hazard. This can limit your potential buyers to older couples or families with teenage kids.

Final Thoughts

Getting a swimming pool can be a costly commitment. That said, it is ideal that you think carefully before investing in one. The bottom line is that you need to ask yourself one ultimate question when it comes to swimming pools: do the costs outweigh the return? If such is the case, you are better off considering other home improvement projects with better ROI.

How to Sell a House Quickly and Easily

We partnered with a real estate company for this post. The opinions in the post are honest. All reviews and opinions expressed in this post are based on our personal views. We are excited because we know you will love it.

Selling your home is probably going to be one of the biggest financial transactions that you ever make, and that is why you need to be absolutely sure the process goes as smoothly as possible. Luckily, there are some simple tips and tricks that you can use to ensure that you start getting fair offers right when your home hits the market.

Take Care of the Major Mechanical Systems

Trying to sell a home with major mechanical problems can be a time-consuming and frustrating task. While you probably won’t need to fully replace every system, you should still have a few professionals inspect and service key devices. That includes your water heater, water softener, pool pump, HVAC condenser, and furnace. It is also a good idea to have professionals inspect your roof, electrical system, and plumbing to make sure it will pass the inspection.

Give Your Home a Quick Cosmetic Overhaul

There are quite a few cosmetic upgrades that you can carry out to make your home much more appealing to potential buyers. In most cases, homeowners should consider deep cleaning their homes and applying a fresh coat of paint to the interior walls, doors, baseboards, and window casings. Another inexpensive way to make your home more appealing is to clean up your front yard so that there isn’t any clutter around.

Price It Competitively

Putting your home on the market at the wrong price could lengthen this process by weeks or months. The easiest way to get a good idea of a fair price is to check other homes in your area that are similar to your home. You can then make small adjustments to the average price in your area depending on any changes you have made to your home in order to sell your home quickly.

Work With a Professional

While some of these projects and upgrades can be good investments, you should still speak with your real estate agent early on so that they can give you suggestions. Depending on the age of your property and how quickly you want to make a sale, they might even tell you to sell your home as is. That is often a good idea for relatively new homes that don’t need extensive upgrades.

These few tips are a great start, but you also want to be sure that you notify your CPA or financial advisor before your home hits the market. That type of transaction is going to have a huge impact on your finances, and you want to be sure that you retain as much money as possible.

Home Improvements To Complete Before You Move In

We partnered with a home improvement company for this post. The opinions in the post are honest. All reviews and opinions expressed in this post are based on our personal views. We are excited because we know you will love it.

Moving into a new home is an exciting time, but it’s also very hectic. And even though you might want to remodel a bathroom eventually, it might be wise to wait until you’re unpacked and settled to begin a project of that scale. Even then, there are some other factors to consider before starting any renovation.

But there are some home improvements to complete before you move in without furniture, boxes, and pets getting in the way. Learn more about what tasks make sense to tackle before your official move-in date.

Flooring

If it makes sense for your budget, you might want to replace your new home’s flooring before you move in. Carpeting, especially, takes on a lot of wear and tear and can hold onto allergens. Switching from carpeting to hardwood before moving your furniture into your new home will save you time and money. A professional flooring company will charge more if they need to move furniture.

Painting

Painting is also much easier to accomplish if you don’t have to worry about moving furniture and draping drop cloths everywhere. And if you’re planning on hiring professionals to paint, you’ll save money if they don’t have to move items away from the walls. Thinking of painting and redoing floors? Paint first and install your flooring afterward!

Waterproofing

Waterproofing your new home is important to consider before moving in. Addressing potential water leakage or moisture issues can save you from significant headaches, which includes checking and sealing basement walls, ensuring proper drainage around the foundation, and inspecting the roof for leaks. Consider a high-quality waterproof sealant to provide optimal protection, maintaining the integrity of your home.

Closet Organization

Unpacking can be much easier if you have shelving and closet organizers installed before moving in. You can choose a DIY option or hire a professional to maximize the storage space in your home. If you know you’d like more closet organization before moving, it doesn’t make sense to fill up a closet only to empty it out again.

Fencing

Installing a fence can be a great project to get off your to-do list before moving in, especially if you have dogs and young children. Even though you can do this after you move in, it might give you more peace of mind during the chaos of moving in and unpacking.

Locks

Changing the locks is an easy task that you can knock out quickly. Every new homeowner should change out their locks because even though the previous owners seem trustworthy, you don’t know who else has copies of the keys.

There are a few other home improvements to complete before you move in, like changing the batteries in the smoke detector, replacing HVAC filters, and childproofing your hew home. Getting these little tasks out of the way will make settling in much easier.

What to Do When the Lights Go Out: 4 Ways to Handle Losing Electricity

When your home loses electrical power, your first instinct might be to panic. Whether you’re in the middle of trying to work or watching your favorite TV show, losing power can be frustrating, but it doesn’t have to be a long-lasting problem. Instead of losing your cool, you should take quick measures and investigate the possible cause of your power outage to try to get your electricity restored sooner.

Use Any Available Light Sources

One of the first things you should, do no matter where you are, is find a light source of some kind. Having a way to see means that you keep yourself from being stuck totally in the dark, potentially tripping and falling or posing some other kind of danger. You should have easy access to flashlights and know where these devices are stored beforehand so that you can use them to provide some light. Failing that, your mobile phone also likely has a flashlight feature that can be used.

Check the Fuse Box

Your power outage may be the result of a blown fuse, and restoring your electricity may be as simple as flipping a switch inside the fuse box. A blown fuse is often the result of an electrical overload that usually results from people using too many power sources in a building at the same time. With the use of a flashlight or another lighting device, check to see if any of your switches in the fuse box are switched to an off position and flip them if necessary.

Contact a Professional

If you suspect that your power outage is the result of an electrical problem not easily fixed, a contractor who’s qualified to provide electrical services may need to be hired to determine the exact cause. Whether the outage was caused by a wiring problem or another system component that’s damaged or past its prime, the electrical contractor should be able to implement a solution that restores your power.

Look Online for Local Power Outage Information

It’s also advisable to check online if you can still access the internet with your mobile phone to see if there are any widespread power outages that have been reported in your area. Your utility service provider may post this information on their website along with details of when the power is expected to be restored. Local news websites may also have this information.

You can get through your ordeal of losing power better if you manage the problem with an orderly mindset. Whether or not you can solve the problem yourself or need help from a professional, it is possible to get the power back on and get things back to normal. You just have to be patient and prepared.