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From: andrew@grkermi.UUCP (Andrew W. Rogers)
Newsgroups: net.consumers
Subject: Re: Advice on bidding on a house...
Message-ID: <643@grkermi.UUCP>
Date: Mon, 30-Sep-85 15:54:50 EDT
Article-I.D.: grkermi.643
Posted: Mon Sep 30 15:54:50 1985
Date-Received: Wed, 2-Oct-85 11:18:22 EDT
References: <566@decwrl.UUCP> <2221@hplabs.UUCP>
Reply-To: andrew@grkermi.UUCP (Andrew W. Rogers)
Organization: GenRad, Inc., Concord, Mass.
Lines: 34

In article <2221@hplabs.UUCP> faunt@hplabs.UUCP (Doug Faunt) writes:
>>  	    improvements make for a high appreciation rate, and others 
>> 	    actually detract from the value of a house, such
>> 	    as, for instance, an inground swimming pool)
>> 
>Why is this the case?  It seems counter-intuitive to me.

Depends on the condition of the pool and, to a lesser extent, on the demand
for pools in the particular neighborhood.

A fully-functional pool in a neighborhood where most houses have them will
indeed increase the value of the property - although not as much as, say, a
fireplace, remodeled kitchen, or extra bathroom.

If a pool is not in 100% perfect working order, though, it actually detracts 
from the value of the house.  They can be *very* expensive to fix, and if 
the seller has not made an attempt to do so before putting the house on the
market, there's probably a very good reason why!  (Ergo, don't buy a house
w/pool during the winter months without negotiating some sort of guarantee.)

Even if the pool is functional, it tends to limit the marketability of the
house - not every prospective buyer wants a pool, and many absolutely refuse to
buy a house with one.  Speaking as one who as a teenager maintained his 
parents' pool, I think they're more work than they're worth; others (especially
childfree couples) don't want to have every kid in the neighborhood trying
to wangle an invitation, or (worse) trying to sneak in.  (Ask your insurance
agent what "attractive nuisance" means, and what one does to your rates.)

An anecdote: 3-4 years ago, we were renting a house with a non-working pool
in a generally pool-less working-class neighborhood of Burlington, MA.  It
was sold shortly after our lease expired, for $78,500.  An identical house on
the same block - sans pool - sold the following week for $84,000!

AWR


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