When buying a house, one thing that inexperienced home buyers love is the presence of a pool. It can be incredibly motivating, as a potential buyer can envision themselves and their friends cooling off and partying in privacy. However, as anyone with a pool knows, they can be a headache to maintain. Not only will you have to pay for maintenance and repair, but there are insurance ramifications and ancillary costs associated with owning a pool which can cause serious financial frustration for an unsuspecting homeowner. So, is a pool worth it? And if you don’t have one, is it a good investment to have one installed?

The first thing to look at when you are considering a pool, is the age of the pool. If you are installing a new one, the materials used and the quality of the installation will be relevant. A newer or well-maintained system will cost you less in repairs and will have fewer unexpected expenses for maintenance. An older pool with cracks or leaks could be a hugely expensive drain on your finances. So, like the rest of the house, make sure that you are quite aware of the condition of the pool before buying.

Secondly, pools can cause insurance liability. If you have a pool, insurance companies will be likely to increase your payments. Not only is a pool potentially expensive to repair, but there is the potential for a very expensive payout if someone dies in the pool and their family sues you. This means that a pool could increase your insurance payments drastically, depending on your situation. Additionally, if you have young children or people who are unable to swim, you might need to install some type of fence or cover to protect them.

Therefore, while a pool can increase the value of a home, the upkeep and ancillary costs can mean that installing a pool does not end up making you money in the long term. However, it can increase the appeal of your house to buyers, and might mean that your house sells faster. So, while pools may not necessarily be a very solid financial investment, if you will get a lot of enjoyment out of a pool, you might find it worth it. Pools should be viewed as an expense that can increase your quality of life, and if you are willing to spend that money, you can have a great experience.