Having a pool at home is a joy that you’ll always appreciate regardless of its cost. Do swimming pools add value to your home? Yes! A pool is a good investment in terms of satisfaction, but the question is how does a pool add value to your home?
Assessing Actual Market Value
Living in a neighborhood where most of the homeowners have pools can be a good foundation for the market value of your house. If you’re the only resident who has no pool when everyone does, then knowing how does a pool add value to a home will help. Otherwise, you should understand that the marketability of your property can easily plunge down. At this point, you should already identify how much value does a pool add to a home and if it would be worth it to install.
States with warm climates such as Florida or Arizona will have more potential buyers of properties with pools, and this is a good indicator of how much value does a pool add. Who wouldn’t want to take a dip during the hottest months throughout the year anyway?
In terms of monetary value, how does a pool add value to your home? According to real estate experts, about a 5 to 8% increase in value is added to every property that has an inground concrete pool of about 14×28 feet. Does inground pool increase home value? Absolutely. You may not get to recoup all the expenses you incurred for your pool project, but having a portion in return is already something to be grateful for.
Adding More Features
Key things you may need to know before building a pool would be learning how does a pool increase home value and educating yourself on the overall benefits and satisfaction you get. A pool that is designed and maintained well can be a bonus increase in the value of your home. On the other hand, a pool that is unattractive or is in dire need of maintenance can just push down your home’s value.
By adding other features in the pool and pool area that highlight the layout and design of your home, you can further raise the market value.
- Adding a finish to your pool could also help add value to your home. A pebble finish for example has a sleek look and can be cleaned easily which is why it is a commonly used finish.
- Adding a fire pit by your pool can help with the value as well as the colder night swims you might take.
- Other features that could help with increasing your home value would be adding grass or turf around your pool. Adding tropical plants can also help with not only value but also the look and feel to your backyard.
Considering Ongoing Costs
When considering how does a pool increase home value, ongoing costs are tackled. These costs cover how much value does a pool add, and also refer to the annual costs of maintaining a pool at home. A huge part of the cost is allocated for ensuring the cleanliness with adding chlorine and keeping the quality of your pool up.
As you think how do swimming pools add value to your home, think of maintenance costs. Annual maintenance on average runs between $500-1000 in a year and the costs are higher when you live in a warm climate. Learning how much value does a pool add to a home can make you understand that living in cold climates means that for the most part of the year, your pool is shut down.
Professional pool services address how does a pool add value to a home, as cleaning involves adjusting the chemicals. The costs will be around $80-150 and can go as high as $150-300 especially before the swim season begins. Heating your pool takes a lot of electricity, as well as keeping the circulating pool pump open. Meanwhile, homeowners’ insurance normally includes pools in the policy, and installing a new one may require an extension of the liability coverage.
Does inground pool increase home value? Surely, it does. However, you should also consider the other factors mentioned above. Understanding how does a pool add value to your home can make you do an estimate of the value your pool can rake in as you plan to sell your house later on.