After living in a home for several years, many home owners desire to make improvements or upgrades – something that will make the house uniquely their own. For many (especially those in warmer climates), this means installing a swimming pool. However, many mortgage companies will tell you there can be several disadvantages to this.

The first concern is the cost. For families who already have the financial responsibility of paying a mortgage and other bills, the added cost of building a swimming pool may be too much to bear. Installing a swimming pool may also lead to increased insurance rates, and even after the pool’s installation has been paid off, there is the added cost of regular maintenance.

Yet another problem may come when it is time to sell the home, as many mortgage companies and realtors could inform you. While a swimming pool generally raises a home’s value, it also is an unattractive feature to many potential buyers. Many people simply do not want a swimming pool in their backyard, and subsequently the number of prospective buyers will be limited.

This isn’t to say that installing a swimming pool is always a bad decision. For those whose financial situation is more stable, adding a pool can add hours of family fun and will add potential value to your home when it is time to sell. However, if you are in doubt about whether you will be able to afford a pool and its maintenance on top of your mortgage and other payments, it is probably an extra feature that is best avoided. Ultimately, the best thing to do is evaluate your own financial situation before making the decision.