Will a Swimming Pool Increase the Value of My Home?
If you’ve been thinking about installing a swimming pool, you should really consider your reasons for doing so. Will it increase the value of your property if you’re thinking of selling? Well, maybe. Or maybe not.
You know how it goes – it’s summer, and it’s hot, and you’re thinking that a backyard pool would be a great idea. You’re right – once you have that pool installed, it can provide hour upon hour of enjoyment. That said, though, it’s a huge investment. Even a tiny little in-ground pool can see you out of pocket for thousands of dollars. And will it increase the value of your home?
It’s not just the cost of the installation. You also have to think about maintenance costs. You also have to keep in mind that you’re going to have to landscape the area around your pool. If you want a pool for your own pleasure, great. But if you’re thinking that the value of your property is going to soar because you put in a pool, think again. It’s not going to happen.
A lot of people simply don’t want a pool with their home. That could be because they don’t know how to swim, or because they have small children who don’t know how to swim and who might not be safe around the pool. Or it could be that they don’t want to be bothered with the maintenance.
Simply stated, a pool is not going to help you sell your home. If you want a pool for your own use, by all means, install one. But if you think it’s going to cause your home to stand above all others in the real estate market, don’t waste your money. Realtors tend to agree that a pool will raise the value of your property by so little, you might as well not bother. People are more likely to buy a property that’s desirable in other ways, and then make the decision to put in a pool. The pool in and of itself is not a selling point.
So, if you’re thinking of putting in a swimming pool, do it for you, and not for any potential resale value in your home. You can cool off in the hot summer months, but don’t assume that anyone else will want to.