How much does a pool add to my home value?

swimming pool

Swimming pools. Everybody loves them and, at some point in your life, you probably wanted one of your own, if you don’t currently. For homeowners, a pool can be a confusing proposition. It’s almost never a first investment priority. Homeowners have more important things to worry about: renovations, appliance replacement, decoration, and what not. But once those things are taken care of and you’ve got a little extra money to spend, the possibility of buying a swimming pool might come back into your life. Every homeowner who has ever read a personal finance blog knows that equity is powerful. Every investment we make in our homes is an investment in equity. Investments which don’t create sufficient equity often don’t make it past the planning phase. The question is, will building a swimming pool add value to my home? If so, how much?

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First things first, let’s define our terms. Let’s abandon all consideration of the above ground swimming pool. Those circular abominations are ugly, not very deep, rather small, and are hard to have a party around. We’re talking about a real, in-ground swimming pool. In almost every case, a new in-ground swimming pool will add value to your home. But there are certain situations where the pool will add a lot of value! Here are the criteria for a very valuable pool.

  • Places Where it’s Hot. If you own a home in southern states like Florida, it’s in your best interests to put in a pool. Not only will you and your family love it, it’ll make your home much more desirable to potential buyers. Everyone wants a way to beat the heat in the sweaty hot summers you have where you live. No one looks at a potential home and says, “Ohhh….they have a pool. Too bad.” In concrete terms, a normal pool can add 15% to the selling price of your home. One realtor’s opinion is that all Florida homes which sell for more than $200,000 should have a pool.
  • Make it Safe, and You’ll Maximize Your Buyer Potential. Enclosed pools are safe pools. Some families with young children can’t live in your house if your pool isn’t enclosed by a fence, because it’s a drowning hazard. Clear enclosures are an investment, but they make pools safe for every member of the family. They also make it possible to have parties, where people within and without the pool area can see each other and have conversation. A short fence is sufficient in many cases.

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  • Do it Right. If you’re going to build a pool, don’t skimp on the cost. Pools are luxuries, and they add the most value to your home when they look and feel luxurious. This is especially true if you live in an area where pools are common. Your future buyers will notice that your pool isn’t as nice as the other ones their real estate agent showed them. Leave room in your budget for landscaping, lighting, and fencing as well.

A pool is a great thing to add to a home, and it will add value in any case. Maximize this value by noting and implementing above mentioned tips.

Article Submitted By Community Writer

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