Many buyers I know who are looking for new homes in both Northern Westchester and Southern Westchester seek either a home with a pool or a home that has an approved Pool Site.
Ownership of a Pool
My advice to buyers who have a pool as a must-have is to buy a home where a pool already exists. There are several reasons for this
-
In Westchester, pools do NOT increase property values. Do the research, it’s true. You will NOT pay a premium for a home with a pool. The money you invest in a pool will be lost, so it’s better to have the previous owner take that loss.
-
The cost of installing a pool in Westchester County can be crippling. I’ve heard estimates of pools in Westchester County being more than double or triple what it would be in other areas. Why is this? Well, the rules governing where a pool can be placed are numerous and require engineers to design, towns have expensive permitting processes and much of the land in the county will require significant drainage work before you can even start on pool installation. You don’t want these headaches or costs.
-
The permitting process and building process can take a year or more, depending on the municipality.
-
Perhaps the biggest reason not to install a pool is taxes. In years past, the assessments placed on new swimming pools in Westchester County were minimal. Now, they can be astonishingly high. I’ve heard assessment estimates on new Gunite Pools in Westchester reach as high as 8 thousand dollars per year. Think about that for a moment. After spending an exorbitant dollar amount installing your new pool, you’ll have to pay another $8,000 per year in property taxes. What’s worse? Your home will be worth less than comparable homes due to your higher assessment.
My advice, search for a home with a pool that already exists. Even if you don’t end up with a pool, many towns in Westchester County have town pools or private pool clubs that are close, fun, social, and economic, plus you don’t have to clean it.
Explore the other articles we’ve made for homebuyers on our blog. We’re changing the home-buying experience in a big way. NestEdge enables its clients to take advantage of modern-day efficiencies to obtain a previously unattainable financial benefit at closing. Learn more on our site or give us a call at (914) 502-4974.
