• Is That Hole In the Yard Worth It?

    If you have never purchased a home yet with the intent to rent it out, you should be armed with some information about houses with pools. Don’t purchase a house because its in a great area, is newly remodeled, but ignore understanding what all comes with a pool. That’s not to say you shouldn’t buy the house to rent it out if it has a pool. It just means that you need to weigh the pros and cons because renting out a house with a pool should be carefully considered, rather than purchased on impulse. There are many homes on the market that may include a gorgeous pool. House-for-rent-hua-hin-swimming-pool

    If, for example, the home is in a hot climate, you very well may be able to rent the property pretty fast. However, realize that when you rent a home with a pool, you’re kind of shooting out of the blue. The property could rent, or it could not rent, and you don’t have a very good way of predicting that. This is because certain demographics want a pool, and others don’t. Also, elderly people usually aren’t that interested in having a swimming pool; this means they will be harder to rent to. One family may be excited at the thought of a pool, because they love having family parties outside by it. While another family may be apprehensive because they are more overprotective than the first family and worry about their children having an accident in the pool.

    With that said, a poHappy child swims underwater in pool, fun on family vacationol comes with a chance of liability. You’ll absolutely need to purchase liability insurance, or else you’ll be facing some real problems at some point. You have to assume that within 20 years of owning a home, some sort of accident is bound the happen, whether its slipping, or hitting their head on a diving board. Consider installing a sensor that will let you know when someone is near the pool area. This can help prevent accidents when you are not swimming.

     

    Factor in the maintenance. You should find a pool cleaner on a site like Angie’s List, and call him. Find out how much he would charge to maintain the pool. Then you can calculate how much you’ll be spending annually. Once you do that, you may decide you don’t want to deal with the cost. If you do buy the house, do not attaching-vaccum-hose-1let the pool go uncared for. Neglecting a pool now will cause serious problems later.

    Talk to an insurance agent to find out how much insurance you need to buy to cover you. You need to get a good quote so that you have an accurate idea of what it covers, and what you’ll be spending. Try, if you can, to see the overall history of how much prices increase over each year. They do not stay the same, so remember that when you get your quote. Also consider setting up an LLC, as this type of coverage will protect your personal assets. Otherwise, someone can come at you and take everything you are worth if something major happens. You need to be sure you are protected.

    Put a very detailed area on your lease of what is allowed in and around the pool, and what is not. As well as other rules. This way, you are not necessarily liable if you have clearly written that you forbid to have glass bottles around the pool. Also add whether or not the tenant is responsible if something needs to be repaired in the pool.

    Categories: Main

    2 thoughts on “Is That Hole In the Yard Worth It?

    • Kathleen says:

      We filled our pool in, only because we had three toddlers when we moved in and two puppies. It was our starter home. I wouldn’t say it was all that expensive, either.

      • Shirley Wright says:

        Hi Kathleen. Great! That is most certainly an option for anyone who already owns a home, or is looking to buy one. If there is a pool and you don’t want one, don’t nix the house altogether. Think about filling it in.

    Leave a Reply

    Your email address will not be published. Required fields are marked *