Fix Pool or Demolish?

Question

I have a class A home in Tucson Arizona that I am turning into a rental. The pool needs 7K worth of repair and 14K to demo.  Is it worth it to just demo it and not have the risks or should I just fix up the pool?  I plan on keeping this home as a rental many years to come. thx

Daniel Kirk · Answer

@Nichiren Dinzeo When you say risk, do you mean risk of needing repairs/something happening to the pool, or risk from liability with the pool? For the latter, a great home owners policy with + a large umbrella insurance should mitigate it. In Tucson, I think having a pool adds a ton of potential value in a rental.

Nichiren Dinzeo · Answer

Thanks for all the advice.  The pool is in the middle of a renovation right now and I am so happy I made that decision! Already have a signed lease at almost top of market and the pool was one of the deciding factors for them.  Pool....and doggy door ironically.

Alecia Loveless · Answer

@Nichiren Dinzeo I’m in Northern New Hampshire and sold a large Victorian home 3 years ago that had a lovely built in pool. It could really only be used about 3 months out of the year due to our weather but it was a HUGE selling point.

At the end of the day the buyers ended up filling it in because their  college age kids said they weren’t going to use it.

Repair your pool. It’s an asset. Have lots of insurance. You’ll be in a win-win situation.

Christian Rodriguez · Answer

I totally agree with keeping it. Specially if you grandfathered one. They usually are worth 15k more on an appraisal but cost 25k to 40k to install a new one.

Mose Gebremeskel · Answer

Agreed with everyone else. Keep the pool!

Bruce Woodruff · Answer

Another vote for keep the pool. Based mainly on your location....it'll be a big deal for a lot of visitors!

Loren Cota · Answer

I agree with everyone else ,  I would keep the pool. Especially if you ever decide to sell the property later down the line. Homes in Tucson with a pool sell quickly,  are highly desirable, and  worth more.

Andrew Kiel · Answer

@Daniel Kirk @Nichiren Dinzeo

Just want to say I fully agree with Daniel on this.  Insure well, use a strong lease.  Tucson is one of the few places in the country where a pool really is a desirable asset, especially in a class A property.  Price out the cost of getting a new one and I think you'd be sick if you decide to fill it in.

Daniel Kirk · Answer

Yup, I’d make sure the lease waived liability, have a good home owners policy with strong rental rider and then a big umbrella liability policy because they are very well priced. Should be plenty of protection and you get to keep the pool :)

Nichiren Dinzeo · Answer

Thanks for your response. I think you are right since it is in Tucson. I was mostly worried about liability but what you suggested makes sense.

Fix Pool or Demolish?

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