Setting up a pool in your backyard leaves a stunning impression on your landscape, making it a favorite place for your friends and family to hangout. Though the setup can cost you a minimum of $30,000, is it worth it? Any development you do in your home should increase its value, and a built-in pool is no exception. The following points may influence the value of your pool.
Meeting the buyers’ needs
It all comes down to whether your prospective buyers want a home with a pool. Most families with babies and toddlers are particular about not purchasing a home with a pool. Though safety barriers can help allay their fears, large water bodies on the property can be hazardous to young children. On the other hand, the relaxing atmosphere and chance to stay fit that a pool provides can be a selling point to retirees.
Locality
What is unique about your area? Does everyone else have a pool, or are you the only one with a pool? Remember, buyers will most likely visit several properties before viewing yours. If having a pool in your area is a standard feature, then yours will not stand out. On the other hand, having a house without a pool in a place where it’s normal to have a pool will also make buyers lose interest.
Though the expenses of sustaining a pool may put some buyers off, those searching for a home with great luxury may not be anxious about it. An elegant home with a pool adds value to the property. Hence, if you own properties in a high-cost area where houses are on sale, then having a pool will keep you at par with your competitors.
Climate conditions
Climate will also affect your pool worth. While some areas in the U.S have snow for six months continuously, others always have temperatures that never go below the freezing point. Such are most suited for built-in pools. For example, pools only add value to properties in the Midwest by a maximum of $40,000, while the home’s worth below $150,000, pools don’t add value. They are also old and not well-taken care of.
That said, in hot climate areas like California and Los Angeles, a pool contributes to the value of a median-priced home by around $95,000. While in Arizona, you get an addition of $27,000 to a median-price home. As much as this may sound like a fair amount of money, the following examples can double the value of your home:
- Adding an extra bathroom-look for hidden opportunities like space in the basement and a closet that’s rarely in use.
- Spruce up the bathroom, for example, light fixtures, fresh paint, and exhaust fans.
- Have a new floor plan-most buyers want the kitchen to be open to a family room.
Pool quality
How clean you keep your pool and the surrounding areas will either impress or turn off a potential buyer.
Added value and maintenance costs
In general, you will cover the pool building expenses and remember the maintenance, utilities, and insurance are an addition. In the long run, the value-added may not automatically cover the installation and maintenance costs.
However, if you always dreamed of having a pool in your backyard and intend on living in your home for many years, the delightful experiences are worth it.
