Swimming Pools – Added Value Or Limited Appeal?
To most Georgians living in neighborhoods, the Memorial Day weekend takes on a special meaning: The opening of the community pool. On the other hand, some homeowners need only step into the backyard to lounge by the pool.
But does having a pool on your property help or hinder when it comes time to sell your home? The answer is neither simple nor straightforward. Truthfully, investing in a pool can benefit one homeowner while not adding an ounce of value to the next.
Pool Market
Experts say the biggest market for pools consists of buyers who skew toward middle age with teenage children. However, there are some homeowners, specifically those with younger children, who might view a home with a pool as an accident waiting to happen. As a result, pools can limit your buyer pool (no pun intended). Experts say pools increase a property’s desirability if the home is in an area that has a large number of pools.
However, in recent years, pools have become part of a trend that places more emphasis on backyard landscaping, including fencing, walkways, decks, and other options. In addition, many homeowners are entertaining more at home and doing more ‘staycations’ (relaxing at home instead of traveling for vacation time) to save money.
Pool Myths
There is a longstanding belief held by many that pools don’t add value to one’s property when you’re selling your home. That may be the case in some instances, experts say, however, there are plenty of examples of pools adding value to your property, according to the NATIONAL ASSOCIATION OF REALTORS® (NAR).
NAR statistics show that pools add approximately 7.7 percent to the average property value, and more than 11 percent to homes in theSouthwest U.S.
That’s why a lot of REALTORS make the primary photo of a listing the pool shot.
Costs
The Wall Street Journal reports that while some companies in theUnited Statesadvertise in-ground pools at prices around $16,000, the real price is likely double that. But costs don’t stop with the pool.
Landscaping a backyard through a landscaping service can add anywhere from $3,000 to more than $100,000. While in-ground pools return approximately 50 percent of their initial investment, be sure to keep service records that show it’s in good working order.
Location, Location, Location
Before installing a pool, consider where you live. If your neighborhood has a community pool that can be easily accessed, you’ll likely struggle to attract buyers for your home with a backyard pool.
However, on a hot summer day, there’s nothing like having your own private oasis in your backyard. I love my pool and the many pool parties I have each year. The 90-degree temperatures are the perfect excuse to jump in, cool off and relax with friends.
Do you feel pools make a splash? Dive in with your comment or pool shots!
By Tisha Gay