Hey everyone, I am working on an off market probate deal in Paso Robles, CA. The numbers are a bit tight and I need some advice on what to do with the pool.
The house is in a lower income neighborhood with an ARV of about $325K. There is an existing pool that is empty but appears to be in working order. It has a lot of wear and tear but probably would work if just cleaned and filled. Here are my options and if anyone has any further experience please let me know. The neighborhood does not need a pool to reach it's ARV, it really adds no value to the price of the home...
1. Tune it up and fill it. Probably $1,000 in money to do this. My question is does it need a fence or other protection to meet insurance requirements? Adding a protective fence would add another $3,500.
2. Fill it or build a deck over it, either way would be about $5,500.
3. Don't touch it, leave it as is. Still may need a fence around it?
Has anyone had any experience with this? Thanks!
Jack hammer a few holes in the bottom of it and put an sign on the curb - and on CL - that you are looking for fill. Once it's filled, put a little topsoil down or crushed rock/ paving stones.
If it adds no real value, then fill it in. Pools are hit or miss with buyers. The "wear and tear" would definitely make it a miss. I would expect the costs of getting it up and running to be greater than 1k since it has been neglected.
As far as the fencing requirement, you should check with your local code enforcement office. Many municipalities have specific rules about fencing and pools. As you said, insurance may require a certain type of fence as well. Check with your insurance agent. From a liability standpoint, I would think at least a fenced in yard would make sense.
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