Does a pool add value to your home? The answer is that it depends.
HouseLogic states that a pool is likely to add value to your home if the following apply:
- You live in a higher-end neighborhood and most of your neighbors have pools (in this case not having a pool might make your home harder to sell)
- If you live in a warm climate like Florida, Arizona, New Mexico, Texas, Hawaii or California
- If your lot is big enough for a pool and space for gardening and playing
Of course, owning a pool costs money. Just to install, equip and fill an average size concrete pool in the US can cost roughly $30,000.
Then there are the annual maintenance costs. Yearly maintenance costs can vary, but choosing energy efficient filtration pumps and heaters can help save money, as well as following these water saving tips. Also, properly maintaining your pool will keep it looking brand new year after year, which will really help when it comes time to sell your home.
Most importantly, keep in mind your purpose: “Why am I building this pool?” or “Why am I buying this home with a backyard pool?”
The answer should be focused on how it can add value to you and your family’s quality of life and enhance the enjoyment of your home. Family time is priceless. A secondary reason might be to add value to your home.
A recent study published by the National Association of Realtors found that inground swimming pools increased the value of homes by a range of 8 – 15 percent. Value increases varied by region:
- Southeast increased value 5 – 10 percent
- Southwest increased value 8 – 13 percent
- Northern USA increased value at an average of 6 percent
For those living in the warmer regions of the United States, building a pool can increase the value of your home. Perhaps, more importantly it can increase your personal enjoyment of home life.
