I am looking to buy a single family home in Scottsdale. I am planning to list it for short term rentals. I am curios to know if I should buy the one with or without pool. The prices are much cheaper without the pool and I can always add above the ground pool for much cheaper price. I am wondering if anyone has tried and if it is worth doing.
On a side note, if I were to have contractor add a new decent sized pool in the backyard, how much days would it take and how much cost should I expect ? Would it need any paperwork with the city ?
Perhaps you can get the best of both worlds for a short term rental in Scottsdale by buying a property that doesn't have a private pool, but does have access to a community pool.
Your tenants still may be able to access the pool, and you won't have the added cost or liability.
Just make sure the HOA is okay with your plans for a short-term rental, as 1,749 of the 2,250 single family homes for sale in Scottsdale have an HOA and may limit your ability to rent the property.
Real Estate Agent · Scottsdale, AZ · Member since 2018 · 412 posts · 366 votes
7y
@Kalpesh Gada I agree with lots of the advice you received:
Buy a property that already has a pool.
Above ground pools are rare here and would not compare well to other properties. Give up that idea.
I have a single-family STR with a pool and I worry about it, although I carry insurance. For your sake I would search for a home with a community pool.
When you find a home you like, always inquire about the HOA's rental rules. Or simply have your agent search for homes that don't have an HOA.
This is all good advice. As a native to Tempe I can tell you that I have never seen an above ground pool. I am sure they exist but its really not a thing in the general PHX area, so like @Melanie Johnston suggested - forget that idea.
I have a single family home in Tempe that has a community pool. My tenants love it in the summer time (as most residents in PHX do!), its an added benefit to my rental and I don't have to worry about the problems that come with a pool.
I know other investors that have properties with a pool and it can be an expensive proposition.
Here are some things to consider:
Maintenance costs - especially during monsoon season. If you are not familiar with this season I suggest doing research. While its my favorite time of year, the storms can be quite volatile which will require a much more frequent cleaning schedule. Also, algae can grow very fast in the summer, especially if the pool is not properly maintained. You will also go through more chemicals in the summer.
Monthly electrical costs - the entire pool system needs to be running at least once or twice a day which will add to the electrical bill. Between that and the normal electricity costs in summer (mostly from running the air conditioning) it can result in a very high electric bill.
Repair - resurfacing the pool deck, the inside of the pool itself, and also system repairs can become quite costly.
I understand that the tenant will be required to pay for some of the monthly costs (such as the electric bill), but keep in mind that it could deter some tenants.
This is why (as @Wes Blackwell mentioned) finding an investment property that has access to a community pool is a win/win. Your tenants have the luxury of a pool without the hassle.
If there is a community pool there is also likely an HOA, so as Wes mentioned it is important to ensure they allow short term rentals, or rentals at all.
I hope this helps, good luck on your investment journey!
Real Estate Agent · Phoenix, AZ · Member since 2012 · 640 posts · 457 votes
7y
@Kalpesh Gada you definitely need a below ground pool at any Scottsdale short term rental home. Some of the best performing rental homes even have a heated pool for year round enjoyment.
I wouldn't even consider putting in an above ground pool.