Does a Swimming Pool Add Value To A Home?
It's officially summer, and in Texas, that means cooling off in the pool. Due to the recent pandemic, some neighborhoods are delaying or canceling their public pool openings this summer. In response, many homeowners are looking to add a pool of their own.
One question I get often is: Does a swimming pool add value to a home?
In other words, If you sell your home, will the selling price cover most or all of the pool's costs, or will you take a hit on your investment?
Determining the return on investment.
Numerous components impact the worth that a pool has on your property. For instance... If you live in an area where a significant number of your neighbors have pools, your investment is probably stable. In fact, in those circumstances, not having a pool might decrease your home's marketability. In the metroplex area, a pool can be an attractive feature for potential buyers.
Let's talk numbers... Appraisors use a grid to determine the value of a pool in comparison to homes without one. So if your property is worth $400,000, you can increase your home's value by about $20,000 to $35,000.
How much do swimming pools cost?
In most areas, the average cost of installing an in-ground concrete pool is approximately $50,000 - $75,000, which means you'll only recoup a portion of your original pool investment. Of course, if you and your family will get a lot of use and enjoyment from your pool, there is the intangible value that goes with that, and recouping your investment may be a moot point. Because can you really put a price on summertime fun and smiles? If you are thinking of adding a pool and would like some expert advice based on your specific home, give me a shout. I'm here to serve.