As the weather heats up, there’s no denying the appeal of a swimming pool in your own backyard. Before you take the plunge to have a pool installed, it’s important to ask yourself “Does a swimming pool add home value?” Answering that question is more complicated than you might think. So, let’s break down the pros and cons of pools.
Is a pool good or bad for home resale?
Some buyers might consider a pool more of a liability than a luxury. If your home has a swimming pool, it may be a feature that deters a family with small children or pets who don’t know how to swim.
You’ll also want to consider the true cost of a swimming pool, both for you as the homeowner installing it and for the potential buyer maintaining it. As a homeowner, it could cost you more than $50,000 to install, equip, and fill an inground pool. Maintenance costs could raise your utility bills each month, the chemicals could cost you hundreds during swimming season, and you may also want to increase your liability coverage on your homeowner’s insurance.
When is it a good idea to install a pool?
Adding a pool could increase your home’s value if:
- You live in a warm climate
- The style of your pool fits the neighborhood (and meets HOA regulations)
- Most homes in your market have pools
- You know you’ll keep up with maintenance
- Your lot is big enough for a lawn and a pool
- You plan on selling to buyers who would prefer a pool, like families with teenagers or empty nesters who host grandkids often.
Often, it’s all about location. Do you live in an area that appeals to the kind of buyers you want? Is there a good spot on your property for a pool? Does your HOA have strict specifications regarding pools? Ultimately, only you can make the call as to whether or not a pool is right for your home.
So, does a pool increase home value?
The truth is, whether or not a swimming pool adds home value is determined by a number of factors—the answer depends on your homeownership goals. But, when it comes time to sell your home, the right real estate agent can help you market your pool to buyers who will love your pool as much as you do. And if you’re staying put, take a dip for us. We’re not jealous or anything.