Does Having a Pool Raise Your House Value?
This is a very important question to ask, and it’s something most homeowners wonder about. If they own a pool or thinking of getting one installed, will it make a difference in the overall price/value of their home in the future or not? It’s just something to consider if you ever decide to buy a pool or sell your house. Below, we attempt to answer this question to help you determine your house value.
Some Enlightenment On The Matter
If it wasn’t already obvious, the pools aren’t exactly super cheap. Whether it’s a normal pool or a plunge pool, it still costs a hefty amount. The average cost to install, equip, and fill a pool starts at 30,000 dollars. And that’s not counting the needed safety fences for them, luxury waterfalls, landscaping, lighting, a Jacuzzi area, and many other things. You’re possibly looking at a total price ranging from 60,000 to 100,000 dollars. These estimations to the costs depend on the type of pool you choose and the extra features that you want with it. So depending on the buyers that are searching and the neighborhood you’re living in, it can be both easy and hard to sell your house with a pool. So ultimately, it all depends, and it cannot be assured.
How To Test It Out
Since the answer to the main question is that it depends on different factors, there is a way where you could test the waters (no pun intended). You need to check out buyer’s reactions with home appraisals. Meaning you hire an appraiser that shows potential buyers the home without mentioning or telling them about the pool, and then having the appraiser does another appraisal with the pool included. After that, you can see the estimated value after those tests, but again, this is all not 100% guaranteed. You see, an appraiser’s job is to find out what the market needs, he/she looks at closed sale prices of homes and determines from there if the homes with pools would sell for more or less than homes without pools. Every neighborhood is different, every buyer is different.
The Effect Of The Pool Structure
Another thing that would impact the overall price of the sale is the structure of the pool that the home has. The pool could be a concrete, a vinyl liner, or a fiberglass composite swimming pool. Every type, and what features that come with it, plays a major role in the buyer’s decision to buy a house or not. So ultimately, this is another reason why the value of the house could be lower or higher depending on the circumstances.
So by now you’ve understood that there isn’t a direct answer to the question, it all depends really. Research suggests that a pool could increase the overall value of the home by 7%. But that estimate again could be lower or higher depending on the neighborhood you live in, the buyer’s preference, how smart your appraiser is and also, the aspect of your pool. But at the end of the day, selling your home is a tricky process that requires endless calculations. With a stroke of luck, you might sell it with ease.