Even if you've dreamed of having a glistening pool in your backyard since you were a child, there are several issues you'll need to consider. While it was once assumed that a beautiful pool adds value to a home, more recent trends question that assumption.
Like paint color, wallpaper and flooring, a pool's beauty (or lack thereof) is in the eye of the beholder. Even if you've built a great looking deck around an above ground pool, there are some people who don't care for the look. In fact, where you see a family gathering spot, a buyer may see the cost of having the pool and deck removed. A buyer might wish for stonework surrounding an inground pool, while yours is brick. It's all a matter of taste.
The National Association of Realtors (NAR) reports that homes in the Southwest benefit the most from having a pool. In fact, the property value of a home with a pool in the Southwest is 11 percent higher than surrounding homes. The same trend does not hold up in the Northeast or Midwest. In short, the warmer the geographic locale, the more likely buyers are to pay more for a pool.
Unless your pool is surrounded by a safety fence designed to protect children and animals from drowning, you can assume that potential buyers are factoring in the cost of doing so themselves. If that cost is prohibitive -- or if they would rather spend the funds on other projects -- having a pool can actually cost you a sale.
There is no denying that a well-kept pool can be a draw for prospective buyers, but it is unrealistic to believe that a sophisticated home buyer is unaware of the effort and expense that goes into keeping that pool beautiful. Chemicals are a fixed cost for the life of the pool. pool repairs can be costly, and unless they hire the job out to someone else, owning a pool is labor intensive.
In short, depending on where you live, you may see a small jump in your property value after the addition of a pool. The downside is that it may be more difficult to find a buyer who is willing to assume the expense and upkeep of a pool.
Find a Homes & Land realty expert today. We have real estate agents specializing in many areas around the United States and internationally. You can also begin your new home search now by reviewing our real estate listings .
More tips like this one ...