Planning and maintenance will help a pool add value to a home. Pools are an investment. A proper in-ground pool can cost anywhere from $10,000 to upwards of $50,000. Regular maintenance is a necessity and ensures the proper function and aesthetic appeal of a pool. The upfront costs of a pool may not be recouped in certain situations. In the right circumstances, the addition of an attractive in-ground pool can assist sellers and be a plus to the right buyer.
According to a study from the National Association of Realtors, an in-ground swimming pool installation can increase the value of homes in warm climates with a long pool season by 7.7 percent. There are variations by region where those in the northeast and Midwest often view pool installations as a liability.
Appraise for the Market and Neighborhood
Before you buy, get an appraisal. Consider the average pool in the area. An appraiser can give homeowners an idea of the value of a home before and after the addition based on market values and the neighborhood. Buyers will not pay premium dollar if the pool and home are valued at top-dollar but not supported by similar neighborhood evaluations. The neighborhood should have homes at comparable value with similar features to take advantage of the additional value increase.
Maintain the Condition
The pool must be in keeping with the look of the home and well-maintained. No seller should expect to get money back from a pool that is a liability. Buyers will see it as an additional investment and poorly constructed or deteriorating pools can detract from a home’s value.
The pool must meet state and local ordinances. Fence the pool or back area whenever necessary to protect against any liability concerns and assure buyers that all has been accounted for
The addition of a pool is seen as a benefit in warmer year-round climates. Many homeowners prefer to have their own backyard oasis for swimming and relaxation. A pool also provides a popular source of activity for gatherings of friends and family during summer months. Not all buyers want a pool and if home value is the sole factor in the purchase of a pool, this is something to take note of. The additional insurance or liability can turn off people with young children. If, on the other hand, the option of a bump in home value is just another plus aside from the pleasure derived from enjoying your pool, some pre-planning can help make the most of the investment. Consider the market, the neighborhood, the condition of the pool and reach out to an appraiser to leverage the financial benefits of purchasing a pool.