It’s a great place for visiting, but I don’t want to live here. That’s a great way to explain how most people feel about houses that already have pools. Although you may be jealous of pool owners on sweltering summer days, pools entail maintenance expenses and liability problems that most of us don’t want to address regularly. As a consequence, a pool isn’t the kind of investment that usually pays off, or the sort of housing improvement that is reasonable if you’re going to sell your house in the nearest future. Can a pool enhance your property’s value?
Does a pool increase your property value?
Remember that you get back about a half of your pool investment in enhanced property value. But this is not a global standard. In fact, there’s no easy formula for assessing a pool – which is sort of deplorable, since it’s a crucial factor in deciding whether you’re able to afford one. Below you can find some of the most essential variables.
Variety and current state of the pool
First of all, above ground pools add little or no value to a home. Actually, in accordance with one report, they reduce the property’s value by about 2%. If you own an above ground pool, you may be asked to eliminate it as one of the sales conditions.
Inground pools have a higher chance to increase the property’s value, but the exact amount depends on many factors. Models with vinyl liners that must be replaced from time to time, generally add less than fiberglass or concrete pools. Older, obsolete or improperly maintained pools will not add much value as well (which you probably know).
Obviously, pools are especially popular in states with the warm climate, where you can swim half of the year. Actually, in some regions, a pool is a feature potential house purchasers search for. On the other side, they may be not so interested in having a pool if they can only leave it open for a summer.
When accessing your house, valuers search for comparable homes in the region. If there are several other examples of houses with a pool, they will probably discount or overlook it. Potential purchasers may also be unwilling to get a house, which doesn’t match the neighborhood.
Overall housing prices in the region are also essential. If nearby homes are more affordable, adding a costly pool and attached spa may not be beneficial to you. However, if houses in your area are more expensive, installing a luxurious pool could work in your favor.
If you’re only searching for ways to enhance the resale value of your house and make it more appealing to prospective customers, there are better solution than setting up a pool. Upgrading your kitchen, adding the new picture and improving your landscape design are all less expensive. This is particularly the case when you add up the current maintenance expenditures of having a pool. Can a pool enhance your property’s value?
Long story short, while building an inground pool will probably enhance your property’s value at least a bit, it must not be the major factor in deciding whether to buy one. You should purchase a pool only if it matches your way of life and you’re not going to sell your house for the nearest future. If a pool really fits you, the investment will pay off in lots of fun and smiles.