Summer is one of the longest seasons here in the Carolina’s and having access to a pool to cool off in is ideal for those hot and humid days. Imagine that there’s no need to pack bags on bags with towels, sunscreen and your bathing suit to go to the local pool, all you have to do is walk out of your door to your very own personal pool oasis. That brings up the age old question, does having your own pool actually add value to your home? According to Houselogic.com, it can add up to 7% in value to your home but the caveat to that is that the conditions must be ideal in order to recoup that value. Here are just a few of the conditions:
- You have a pool AND a yard – buyers do not want a pool and no yard, there must be a balance here.
- You live in a neighborhood where most of the homes have their own pools.
- The pool is well maintained and updated.
- You have a buyer who wants a home with a pool.
Other factors to consider about whether or not a pool would add value to your re-sell is the type of pool that you have. There are several different types of pools to choose from when considering such as above ground vs. in-ground, fiberglass, vinyl or concrete. Most of the time, there is more value placed in an in-ground rather than an above ground.
Don’t forget to consider the cost to maintain a pool as well, this is another cost to take into consideration as it’s a lifelong expense and not a onetime cost. According to fixr.com, the low end of monthly maintenance for a pool is $150 and can range up to $1,050.
While the above list definitely helps you to incur that added value when it’s time to sell, at the end of the day it’s up to the appraisal. Have your home appraised without a pool and then separately if you had added pool. Why does the appraisal matter? The appraiser will only select one set of sold homes to compare in the report on your home, this is what ultimately makes the decision on if it’s a value to add one to your home.
Keep in mind, if you are set on having your own pool do not think of it as a value add but as a lifestyle benefit since in the end it may not pay back what you put into it. The good news is that the memories will last forever if you decide to add this to your home!