Something that people often wonder is whether or not a swimming pool is a worthwhile investment to their property. Will a swimming pool add value to your home or can it actually make your house harder to sell? We’ll be exploring this question to help you decide whether or not to add a pool to your backyard.
Let’s start by looking at the numbers. In ground pools can cost between $50,000-$70,000 to install, but may not add much in value. Of course, this depends on the market, the property itself, and type of buyers in that area. If the pool is really nice, and kept in great shape, it will add a lot more value than a pool that needs a new liner and work done on it immediately. In fact, a pool in bad condition can really hurt your home’s value because you’re adding expenses for the new buyer, and they may not even want a pool in the first place so a house with a pool is only going to be an expensive inconvenience for them. Costs can stack up quickly when you take into account regular pool cleaning and maintenance, as well as ensuring it meets safety standards. Jody Kriss can help you, give him a holler here: https://www.linkedin.com/in/jodykriss
Things To Consider
On the other hand, if you have a well-maintained pool, and your property is the kind that appeals to the niche of people who want a pool, it’s a no-brainer. That niche may be smaller than the people who don’t want one but you only need one buyer, right? To the right property it could be the finishing touch that makes all the difference, and in some cases, it can even be a desirable centerpiece to focus the rest of your property’s assets around.
According to a panel of real estate agents who were surveyed, and asked whether a home with a pool would sell for more or for less, the answer really depends on numerous factors:
The location of the home.Do other homes in the area have pools?
Does the pool match the value of the home? (For example, you don’t want a very fancy pool in a cheaper neighborhood, nor a cheaper pool in a very expensive neighborhood.)
What are the buyers looking for in your area?
Most importantly, do you want a pool?
What Are Your Plans?
If you plan on selling your home right away, adding a pool probably isn’t a great investment since you are closing the door to a lot of potential buyers, and chances are it won’t add enough value to the price of your home to justify the cost of building the pool. You’re better off going without it, and if the new buyers want a pool they can add it themselves.
On the flip side, if you plan on living in your home for a while and want to own a pool, then it’s a great investment! You might not get every penny back when you decide to sell your home, but you’ll enjoy your time there a lot more and swimming is not only a great way to cool down on a hot summer day but it’s also excellent exercise and a great place to have a party.
The only definitive answer is “It really just depends.” If an in-ground pool is something that you want to enjoy in your yard, then you should do some research in your area, compare similar homes that have sold with and without pools, and determine what type of pool the buyers in your area are looking for. If it’s something you will enjoy for years before selling your home, and you can afford it, then just go for it! If you’re on the fence, Jody kriss says you must consider an above ground pool. It’s less expensive, and less of a permanent commitment.