Making the decision to sell your home can be a tricky one, especially if you’ve been living there for a while. At the end of the day, your home is also an investment and you want to make sure that you get as good return as possible.
Smart homeowners will therefore look for opportunities of how to add value to your home before selling. For example, considering the question ‘does a pool add value’ might end up having a big impact on how much you get from a sale.
Is a Pool Right For my House?
Of course, not every home or neighborhood is suitable for a pool. Outdoor swimming pools are certainly popular in certain states, which might give you an indication of whether it would work for your home. In general, they are clearly more popular in warmer states.
You also do need a certain amount of space in your yard, to make room for the pool itself. If you’re keen for a pool but have a particularly small backyard, there are still creative design solutions that can make your dream pool a reality.
When deciding about ‘should I build a pool’, it really comes down to a question of popularity. Do people in the area spend time outside in the sun in summer? Are there enough days of regular good weather?
If so, then a pool might be a decisive factor for potential buyers. If you’re wondering ‘does a pool add value’, then walk through these steps for your own home and see what you come up with at the end.
Pros and Cons of Adding a Pool
The pros of adding a pool to your home depend on how long you will be staying in it. If you have some time before you intend on selling, then adding a pool now gives you time to enjoy it as well.
Summer days spent relaxing on the deck, cooling off in the pool, and splashing around with friends and family can be true bliss. Get all the fun and luxury of going on vacation from the privacy of your own backyard.
If you’re planning to sell soon, then you may not reap the benefits of having a pool yourself, but your prospective buyers will see the potential. It may well increase the value of your home, making it attractive for people who want their own private pool.
In touristy areas, adding a pool can also make your home an attractive choice for vacation vendors, either to buy as a second home or to rent out to people visiting the area.
On the other hand, there are some cons to consider as well. You need to factor in the initial cost of the pool and make sure it’s within your budget.
If you’ll be staying in your home for a while longer, it’s important to also brush up on pool maintenance. This can be a drain on your time, especially if you’re preparing for a sale.
Nonetheless, investing a bit of time and money now can significantly increase the value of your home. So exactly how much does a pool add value? Let’s find out.
Does a Pool Add Value to Your Home?
If you think a pool would work for the area you’re in, based on the reasons above, then it’s very likely that a pool would increase the value of your home. When looking at how a pool increases value, it’s often important to take in the surrounding environment as well.
If there are a lot of other homes with pools in the area, then it might become the expectation. If there aren’t, then your home with its pool could stand out from the crowd. Having your own pool is often thought of as the height of luxury, so it can justify much higher houses prices.
How Much Value Does a Pool Add?
When working out the answer to ‘does a pool increase property value’, we first need to look at the initial costs. The average installation cost for an in-ground swimming pool ranges from between $30,000 and $45,000 depending on what kind of pool you go for.
Alongside these initial installation costs come maintenance costs as well. The average homeowner with a pool spends between $1,500 and $2,000 on maintenance fees every year. This includes chemicals to treat and clean the water, paying staff to take care of the pool, higher insurance fees, and so on.
It’s hard to say exactly how much a pool will increase the value of your home without knowing the exact area. The best way to work this out is by inviting a property appraiser into your home and asking them for two quotes: one for your home as is, and one for it with a pool.
From those numbers, you can then deduct the initial costs and maintenance fees and see if it works out in your favor. For example, if your pool would cost $35,000 and you will need to pay maintenance for one year, that would come to around $37,000.
If the appraiser values your home at $300,000 without a pool and $350,000 with a pool, then you will be increasing your profits on your home by $13,000 by getting a pool. In this case, it’s clearly worth it the investment.
Because so much of this relies on expert opinions both on the cost of a pool and the valuation of your home, it’s a good idea to bring in professionals to offer quotes and guidance. With their help, you can deduce whether a pool will add value and exactly how much you can expect.
Ready to Increase the Value of Your Home?
Now you know exactly how much does a pool add value, you might well be keen to see how it might suit your property. For individual advice specific to your property, book in a free consultation with the team at Sahara Construction.
Our friendly staff are only too happy to offer you advice and guidance on what kind of pool might suit your home and family.