Having a swimming pool in the front yard or the back yard is a dream to many. A sparkling blue pool not only boosts up the aesthetics of your house but also adds value to your house.
Now, if you are looking forward to adding a swimming pool but your skeptical whether it would increase the value of your property or not then you have come to the right place. In this article we will discuss the effect of the swimming pool on the value of a property so that you know if you should spend money to install one or not.
Does A Swimming Pool Really Increase the Value of your Property?
The answer is yes. A swimming pool will add value to your property and hence, increase its price. However, this answer is quite controversial. Because not all types of swimming pools increase the selling price of the house; pools that are in-ground will definitely increase the value of the estate whereas above-ground pools are often turn-offs to buyers and can actually decrease your home’s value. And that’s why many homeowner associations forbid to install above ground pools to the properties.
But then again, homes with in-ground swimming pools can also be quite hard to sell. This is because buyers know about the continuous expense it comes with. On average, a swimming pool requires around $4,000 every year for the maintenance purpose, which is quite a hefty amount of money and this cost calculation might discourage any potential buyers to buy your property.
Aside from the high maintenance cost, families with little children will also avoid buying homes with swimming pools. They might fear that the kids would get submerged in the water when not supervised properly and cause severe accidents.
However, even after such disadvantages, an in-ground swimming pool can increase the price of your house by nearly 7% according to Houselogic.com and Dave Ramsey.
So why does it increase the property price even after having some prominent disadvantages?
Well, that’s mainly because of the location of your home. When you have a house with a pool in a warmer area where there is always sun and the climate is hot, it will attract the attention of home buyers instantly because no matter what’s the maintenance cost is, a cool pool will enhance the quality of your life; you can lounge around it, take a comforting dip and even throw a party around your pool for your friends. And for these conveniences, your house with a sparkling clean swimming pool will sell quickly and that too with an increased price rather in a hotter region compared to a colder region’s one.
Now that you know how and why a swimming pool influences the value of your house, we are sure that you would install one in your property very wisely. Remember, a poorly thought out swimming pool will not only cost you a lot of money initially but might also negatively affect the price of your house.0