Installing a swimming pool in your home has many benefits. It offers a fun experience, especially during hot days, and allows you to exercise and stay healthy. However, does it add to your home value? When doing any upgrades, you want to be sure the addition will increase the value of your home so that you get a return on your investment. Is that the case with a swimming pool? This article explores how certain factors determine whether a pool adds value to your home.
The Climate
One of the things that will determine if a pool is a good idea, is the environment. A pool is a great investment if you live in an area that’s hot or warm throughout the year. A buyer will be motivated to buy a home with a pool if the overall weather allows year-round use. On the other hand, if you live in an area where the pool can only be used in certain seasons, then a pool might not add much value to your home. Even if the pool is heated, it can only be used seasonally; most buyers might not find it appealing, and as a result, this doesn’t increase your home’s value as much.
The Neighborhood
Another factor that will determine whether a pool will add value to your home is the neighborhood. A pool may be a standard amenity in neighborhoods where most homes have pools. In such cases, installing a pool will add value to your home. In fact, not having a pool in such a neighborhood might reduce the value of your home. On the other hand, adding a pool might not yield a significant return in neighborhoods where pools are uncommon.
Targeted Buyers
A pool can increase your home’s value if you’re targeting affluent buyers, especially childless couples or families with older children. These buyers often seek luxury features that reflect their lifestyle, and pools provide entertainment, relaxation, and aesthetic appeal. They are less concerned about safety issues related to young children and more focused on enjoying leisure activities. For non-starter home buyers, a well-designed, high-quality pool integrated into the property’s overall aesthetics can also be a significant selling point. If these are your targeted buyers, then a pool will increase your home’s value.
A Well-Designed Pool
Pools come in different shapes and sizes. Some are designed well, while others prevent the yard from being used for anything else. If your pool has been well designed, blends with the yard, and leaves space for other landscaping, it will likely add value to your home.
Factor in the Pros and Cons
A pool has several benefits and drawbacks. The main benefit is that it increases the quality of your life by providing a place for relaxation and entertainment. These benefits will attract buyers to your property, increasing your home’s value.
That said, owning a pool has several disadvantages, such as repair and maintenance and a hazard to those with kids and pets. Again, these are factors that buyers determine which can make your property less attractive.
Adding a pool is an expensive upgrading project. The homeowner needs to weigh the pros and cons before installing one. If you plan to enjoy the pool yourself and aren’t concerned with the resale value, consider adding a pool. Also, as mentioned, a pool can be a great investment that will add value to your house under the right circumstances. It’s up to you to factor in your circumstances and see if it’s worth installing a pool. You can also consult a realtor for professional advice about installing a pool in your home.
