If you have a home you’re considering selling someday, you may be looking at home improvement projects to increase its value. You might want even to jump into a big project like adding a pool to get a better price later. But before you do, make sure that pool is going to add value to your home.
Type of Pool
The type of pool makes a big difference in the value it adds — or lowers. An above-ground pool is the cheaper option, but most of the time it actually lowers your home value. Some buyers will even make you remove an above-ground pool before they buy the home, and these pools can lower the home’s aesthetic value as well.
Climate & Location
Pools make more sense in some climates than others. A homeowner in Florida or Arizona will be able to get a lot more use out of their pool than someone who lives in a place where it’s cold and snowy for half of the year. Some people will not want to pay the extra maintenance cost in a climate that isn’t as friendly to swimming, so the pool may detract from the home’s value.
You also need to consider the “micro-climate” of your yard. Is the pool the entire yard? If so, the feature might lower your home value. However, if you have room for a garden, a lawn, or an outdoor kitchen, the pool can add value. Are there lots of trees surrounding the area you’d like to install the pool? Then be prepared for additional pool maintenance and fewer sunny days.
Installing a pool is expensive. Most pools cost over $10,000 to put in, and that doesn’t include additional expenses like lighting and pool gates in areas where those are required. If you want additional features like waterfalls, landscaping, or an infinity edge, it’ll cost far more. In some places, it may also cost more to install a pool because of the soil quality or climate conditions.
Installing a pool isn’t the only cost, however. Pools cost a lot of money for maintenance, which may discourage homebuyers in certain markets. Also, when you sell your home, you may also have to replace the liner, get a new filter system, or install a more up-to-date security gate. Add up these potential expenses when you look at putting in a pool to see if you’d be able to get these costs back when you sell.
If everyone in the neighborhood has a pool, not having one could lower your home value. Putting one in will help your house be more comparable to the homes around it.
Also, if your home is in a good school district and you hope to appeal to young families, you may have a harder time selling. Parents may worry about their children’s safety around a pool and prefer to look elsewhere.
Whether a pool adds value to your home depends on several factors. Use these to determine whether you feel it will be a good investment, now and when you finally decide to sell.