Adding a swimming pool to your property add value to your home? Some realtors say that swimming pools are an amenity that potential buyers may shy away from, while others argue that they are a necessity – especially when it comes to homes in upscale areas.
A recent study published by the National Association of Realtors maintains that inground swimming pool installations can increase the value of homes from 8 percent to as much as 15 percent. There are some variations by region: In the Southeast the increase in value ranges from 5 to 10 percent, while in the Southwest this ranges from 8 to 13 percent. In addition, in the northern areas, the increase in value range is an average of 6 percent.*
Things to Consider Before Adding a Pool
Before adding a swimming pool, you should consider a few questions: What type of pool is best suited for your property? Will the current housing market allow you to recoup all of the money you have invested when it comes time to sell? How will your home compare to others in the area once you have added a pool? Are you adding a pool for the benefit of your family or for the financial benefit of added resale value? Homeowners considering adding a swimming pool to add resale value have to consider the other houses in the neighborhood. Before any project is started, it’s important to do some research on the real estate in your neighborhood to see the amenities that other area houses offer and make sure you are not going overboard. If no one in your neighborhood has a pool, chances are that you won’t recoup the cost of adding one when you sell. This is because the average price of a home in your area will likely not include the cost of an added pool, which can require a significant investment. Adding a pool can cost thousands of dollars, but these extra thousands when added to the cost of the home could instantly repel potential buyers. On the other hand, when you add a pool to a large property in a wealthy neighborhood, chances are that the investment will pay off. Homebuyers in upscale neighborhoods often expect every luxury imaginable to be included, so if your house doesn’t have a pool and every other home in the neighborhood does, you might have problems when it comes time to sell.
Types of Inground Pools
The addition of an inground pool can often pay when it comes time to sell a home. These pools come in three basic varieties: vinyl-lined, fiberglass, and gunite or concrete.
Are similar to concrete pools and can be finished with tile, plaster, paint, aggregate or fiberglass. These pools are often well suited to areas that are prone to extremely high temperature and areas where the soil is known to expand. Pools made from concrete or gunite are generally strong and durable so potential buyers often take comfort in the fact that these structures usually don’t require much in terms of maintenance and repair.
Before building a pool
No matter which pool you choose to install, the improvements may not pay off if the current housing market is slow, so it’s important to take this into consideration before you start digging. It is essential to look into current market and property values before adding a pool because the slower the housing market is, the less money you will recoup from the addition, mostly because people will be paying less for houses.
Perhaps the most important thing to remember when adding a pool is your purpose. Keep reminding yourself that the pool you are adding should be for personal enjoyment, not to exclusively improve resale value. If you add a pool just to improve resale value, you will put your individuality aside and instead concentrate on what can sell, which is not always most appealing. Doing necessary research before taking the plunge and adding a pool to your home will make your backyard experience a positive one as a homeowner.
Where to Put Your Money
When it comes to pool-building budgets, our philosophy is this: Spend it where you’ll see it.
When you envision your dream pool, the pool itself is usually a foundation upon which your backyard oasis is built. So our advice is to build the most basic pool possible to meet your needs, then focus your energy — and your budget — on creating a poolside environment you’ll never want to leave. The best poolscape designs integrate the pool, deck and patio, draw inspiration from nature, and reflect your personal style.