WSJ on Swimming Pool Maintenance and Opportunity Costs

The WSJ looks at the cost of pool ownership and concludes that

"It's definitely not an investment," argues Jim Holtzman, financial planner at Legend Financial Advisors in Pittsburgh. "It's a big liability, if anything."

From a financial perspective, over the long term, they are absolutely correct.  Yearly pool maintence, increased insurance costs, and opportunity costs all make a swimming pool a liability.  But in the Hamptons, all these costs can be recouped by the much higher rental prices owners can command.  Maybe the answer in the Hamptons from a financial perspective is don't put one in unless you are going to rent for at least a month each summer.

The most important pool-related real estate investment one can make here is buying a place with room for a pool.  You can always put one in later.  The risk is that zoning will change and the room for a pool will be eliminated.  So get a building permit if possible.  And beware of sales listings claiming there is room for a pool; many are inaccurate.