Pools are great for the summer because they give you the ability to escape the harsh sun while having some fun in your backyard. They can also improve your house’s property value, which is great if you are planning to sell the house. Not only that, but pools can also make it easier to sell the house because your home offers more to sellers than a conventional home would.
Increase in Value
Adding a pool to your backyard will add value to your home in most cases. There are times when it will adversely affect the value, which will be discussed later, but there is usually a direct correlation between pools and property value. Adding nearly anything to your home will improve its worth.
For example, new paint and carpeting will increase the value. Pools can increase the property value by several hundred or thousand dollars depending on what type of pool you get and where the house is located.
While there’s no question that a pool will improve your home’s value, what you might want to consider is if you’ll make more money from your investment.
Do you live in a warm or cool area? Places with warmer temperatures treat pools as a luxury addition because the pool can be used longer, and there’s a higher need for it. Not only that, but you don’t want to cool off if it’s cold outside. If you live in a warmer area, then the pool will often fetch a higher resale value. You also have a much better chance of recouping your costs.
If you live in a cool area, then pools will usually increase the home’s value, but not as much as in a warm area. The warm seasons will be shorter and there might even be some summer days when the pool is unusable due to the cooler temperatures. In fact, the pool might even hurt the value a little if you live in a cold area because it will be useless to the new owners.
Number of Pools
You might think that neighborhoods with a lot of pools would decrease the worth of a pool because it’s a common commodity. The opposite is true. If there are more pools in a given area, then the property’s value will increase by that much more. While your property’s value will still increase if you are the only pool owner, it’s better if everyone else also has one.
This is because it becomes a necessity. The new homeowners don’t want to be the only family on the block without a pool. It also increases expectations because they want to have what everyone else in the nearby area has.
Type of Pool
In-ground and aboveground pools both add value, but they affect property differently. In-ground pools cost more, so it’s no surprise that they add more value to the home. At the same time, it makes your home specialized because only those who want a pool will look at your home.
Aboveground pools have a smaller affect on your property value, but they keep you open to a large market because these pools are fairly easy to remove if the buyers don’t like it.
Appraisers make several considerations when valuing the pool. First of all, they check for nearby homes with pools. If you are the only home with a pool, then you will only be credited 25 percent of its cost. This value can be further decreased if the temperature is cool because there will be a very small demand for pools.
Quality is probably the biggest consideration. If your pool is in poor shape, then it can drop the value of your home because it turns from luxury addition to extra work for the buyer. The pool might also decrease the value of your home if there are no safety devices and the neighborhood is known for having smaller children.
Pools will usually improve the value of your home, but they may not give you as much as you think. If you are in the right area, then pools can add a premium to your home’s value when you try to sell it. Just be strategic if you are thinking about adding a pool.
About the Author
Bob Quigly is a landscaping and family fun enthusiast who contributes to many blogs for Backyard Ocean for intex pool filters; a personal company here for your family.