Author: Michele Chan Santos, SPECIAL TO THE AMERICAN-STATESMAN
Date: May 8, 2004 Publication: Austin American-Statesman (TX)
Buy
a pool to enjoy, not as an investment, experts say
Thinking of having a custom pool built in your
back yard? Here are some things to keep in mind when undertaking
this major project:
1. How much will it cost?
Prices for a custom pool vary widely.
Mike Church, owner of Cody Pools, says his
company builds pools in the $28,000 to $150,000 range.
Bruce Brown, vice president of Pool Pro Custom
Pools and Spas, says the two main things driving the price of a
pool are the size of the pool and how much deck area you want to
build. Pool Pro builds pools from $25,000 to $200,000.
Decide what size pool you would like, write
down any design ideas you are interested in, and then approach several
pool builders to see what bids they can offer, said local pool owners.
Then you can see what a competitive price for your pool would be.
Having a spa or hot tub adds another $7,500 or so, Brown said.
2. How will I pay for my pool?
The most common method of paying for a pool
is taking out a home equity loan, Brown said. If you do not have
the equity, you can also get a loan specifically for constructing
the pool, he said.
3. If my house is worth $200,000, and
I build a pool costing $50,000, is my property then worth $250,000?
The short answer is: no.
A pool may increase the sales appeal of your
house, but you should not expect to get a dollar-for-dollar return
on your pool investment, local real estate agents say.
"You should build a pool because you want
a pool. Don't get it to make money on it," said Carol Strickland,
an agent with AvenueOne properties. "But what you don't get
back in money, you get back in enjoyment."
4. We have a lot of rocks on our hilly
property. Will it be more expensive for us to build a pool than
for our friends in Houston, who live on flat ground with fewer stones?
Yes. To break up and remove the rocks will
add to your expense. Cody Pools, for example, will charge an additional
$1,000 to $1,500 for rocky property.
On the other hand, if your house is built east
of the Balcones Escarpment where the soil has a lot of clay, there
may also be additional costs. The pool builders will have to "overdig,"
or dig a hole larger than is needed for the pool, to place material
underneath the pool to keep it from shifting with the soil. To overdig
by 12 inches and add gravel will add $700 to $900 to the total cost,
Church said.
5. What does "impervious cover"
mean?
City of Austin regulations demand that no more
than 45 percent of any residential property be "impervious
cover." This means that no more than 45 percent can be covered
with your house, driveway, concrete deck or other material that
keeps water from soaking into the soil. The city does this to prevent
excessive runoff.
A pool builder can tell you whether you have
enough land to build the size of pool you want without violating
the law. City inspectors will check to make sure you are in compliance.
Neighborhood associations may also have their own impervious cover
rules.
6. What about taxes? Will having a
nice pool increase my property taxes?
Yes. Once your pool is complete, a county or
city official will assess the value of your pool and its surroundings,
and the taxable value of your home will change accordingly.
7. How much does maintenance cost?
Most pool companies offer a regular maintenance
plan. Cody Pools, for example, will clean your pool every week for
$154 a month. You can also clean your pool yourself. Cost of maintenance
depends on your filtration system. A standard chlorine filtration
system will need $40 in chemicals each month, while the newer salt
filtration systems require only $40 in supplies each year.
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