Can you picture it: a frozen cocktail in your hand as you sit by the pool, grill fired up and burgers ready to hit the flames.
But you’re worried that the cost might be a bit more than you had hoped, and now you’re wondering, is this dream going to end up drowning you in regret? Maybe not, but then again maybe, yes. Depends on your expectations — because in most cases it’s like buying a car, once it’s yours, you’ll never get the full value back. Here’s what you need to know.
When it may make sense to have a swimming pool.
- If you live in a higher-end neighborhood and most of your neighbors have pools, not having a pool might make your home harder to sell.
- If you live in a warm climate, such as Florida, Texas, Hawaii or even Tennesse.
- Your lot is big enough to accommodate a pool and still have a yard left over for your kids to play or for gardening.
Still, that’s no guarantee you’ll get a return on your investment. At most, your home’s value might increase by 7% if all circumstances are right when it comes time to sell. Those circumstances include the points made above, plus:
- The style of the pool. Does it fit in with the neighborhood and style of your house?
- The condition of the pool. Is it well-maintained?
- Age of the pool. If you put a pool in today and sell in 20 years, you probably won’t recoup your costs, especially if the pool needs maintenance or updating.
- Market to the right buyer. Couples with very young children may shy away from pools because of safety issues, but an older couple with teens or a childless couple may fall in love with it.
Types of Swimming Pools
Above grounds will not help your home value in any way but it may hurt your home value. In-ground pools are what buyers want when they are looking for a pool. Pools come in 3 main types.
Gunite – is the most popular and sought after material to have a pool made out of, its also the most costly to install.
Drop-in Fiberglass Shell – drop in pools are less costly than Gunite and come in most shapes and sizes you would expect in a pool.
Vinyl Liner Pools – These are the lest expense of the 3 but they are not cheap. The lines can last up to 10 years but will need to be maintained over the years.
According to Realtor Ron Dayley of Coldwell Banker “Only the homeowner, can determine the true return on investment. A pool can add value to your quality of life and enhance the enjoyment of your home. How can you put a price tag on that”.
Buyer’s agents have been known to use pools as a way to lower the selling price of a home, while Seller’s agent will tell you that a pool is a great asset to a home.