Almost everyone likes to go swimming, or they at least love going to a pool party. However, homes with swimming pools have always been a double-edged sword. In the right situation they can add tremendous value but, under many circumstances, they can potentially be a money-pit. A recent post on Realtor.com highlights the perils of buying a distressed property with a pool and lists five lessons learned from a buyer in Seattle who learned them the hard way.
“For one, the pool equipment needed to be replaced. A new, energy-efficient heat pump cost $4,500. We bought a pool-cleaning robot for about $800. Just to get the pool running, we spent about $10,000.”