Monday, 26 June 2017

Do Swimming Pools Add Value to Homes?

Written by Posted On Thursday, 18 May 2017 15:41

An in-ground swimming pool is a thing of luxury. It offers a private space to relax or exercises, and is often believed to drastically increase the value of a home. However, not many homeowners realize that adding a pool to their home doesn't promise a significant increase in the value of their property. In fact it could have the opposite effect, making this important decision even more consequential if you plan on eventually selling your home.

If you've been drawn in by the temptation of your very own pool, consider the following before you call up that contractor for a quote.

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How Pools Can Add Value

It is fairly safe to say that in most cases a pool will indeed add value to your home, both in terms of increasing monetary value of what your house is worth and through an increase in personal value. But pools aren't always a sound financial investment.

Before you bite the bullet and have an in-ground pool installed, think about these factors:

Location and Region - By far one of the biggest factors when considering adding a pool is where you live. If you live in a mild to warm climate where you'll likely get many months of use from your pool or even rely on summertime swims to stay cool then purchasing your own pool makes sense.

 

Neighborhood - Even if you have the finances to have a pool installed you should still consider what is around your home. If you live in a more expensive or upscale neighborhood where pools are common then it's probably a great decision. In fact, if you live in a neighborhood where pools are more common than not then you probably should seriously considering adding a pool as not having one will be unattractive to prospective buyers.

 

Yard/Property Size - Can your yard actually handle a decent-sized inground pool or will it eat up all your space? Installing a tiny pool for the sake of just having a pool is rarely a good move, especially in a residential setting where the pool will likely be a source of entertainment. If you have a large yard and installing a nicely-sized pool will still leave you with a beautiful lawn and room for landscaping then it will add value.

 

Eventual Sale of Home - If you plan on selling the home soon or before 10 years or so then you'll probably be able to recoup more costs from having it installed. Chances are a pool is a better bet for homeowners that know they will want to sell in 5 or 10 years, but will have a few years of personal enjoyment prior.

 

Style of Pool - For the most part an in-ground pool is the more attractive option as some consider above-ground pools to be unattractive. If you only have the budget for an above-ground pool then you may want to skip it altogether, unless you plan on having a custom pool deck done to make it a faux inground pool of sorts. Consider pool shape and size as well. Going back to the neighborhood factor, if you live in an area where large or uniquely-shaped pools are commonplace, you'll probably want to match.

 

Usually pools work out very well for homeowners that live in middle class and up neighborhoods in warm and/or coastal regions. If you've found that your home doesn't align with all the factors listed above, you should carefully consider whether you should continue with the idea of having your own pool.

When Pools Are A Poor Investment

For the most part you should probably avoid pools or at least wait on the idea while if your situation falls into one of these situations:

Your Region Offers Seasonal Use Only - If your pool is going to have more downtime than usable time it's probably going to feel like waste of money. Unless you have the funds to have an indoor pool you should probably avoid a pool if you'll only be able to use it a few months out of the year.

  

Pools are Rare in Your Neighborhood - There could be any number of reasons for why pools aren't common in your neighborhood and surrounding neighborhood, but it does serve as a good way of judging whether you should install a pool or not. Believing that a pool will actually make your home stand out than be a burden, think again and consult a professional.

 

You Plan on Selling Either Soon or Far Off in the Future - Homeowners planning on selling in under 5 years probably will end up feeling like they barely got any money back from the pool as they didn't even get to enjoy it for themselves. On the other hand, if you are a homeowner that loves your home and knows you probably won't sell for 15 or 20 years then the future costs of resurfacing means you won't be getting much of an investment from a pool.

 

Your Home is a Family Home - If your home is going to be an attractive choice for families with young children then a pool can actually be a hinderance due to safety risks. If your neighborhood is one with a lot of new families or your yard has a playground that is aimed at kids under 10 or 12, think about how pools could be more of a headache than a bonus for prospective buyers.

 

You Don't Have the Budget for Upkeep - Having a nice inground pool installed is only the beginning. Like many purchases in life a pool's initial cost is actually the least expensive, especially if you fall into the category of wanting to keep your home for long-term before selling.  Heating, cooling, chemical cleaners, vacuums, and eventual resurfacing are just a couple upkeep costs to think about. You can get a realistic maintenance quote from a contractor or by doing some calculations on your own via research. You could also ask a neighbor that has a pool.

 

A Pool Will Significantly Affect Your Finances - Upkeep aside, if building a pool is going to leave you penniless it really isn't a good move and shouldn't be put off until the future. By waiting and saving up funds or considering a loan you could not only get a pool for also have the budget to have an existing deck connected to the pool via a yard walkway, have landscaping done around the pool, invest in custom lighting, and more.

 

A pool is a personal decision and even if others think you shouldn't get a pool it really comes down to what will make you happy. Just remember that it may not add value to your property and could end up costing you in the future.

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Matt Lee

Matt Lee is an SEO and content marketing specialist serving building material manufacturers. He’s the founder of digital marketing agency, Lead Generation Experts, and Local SEO Course, Digital Growth Lab, that teaches business owners how to rank higher and get more leads through search engines.

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