When the temperature slowly begins to rise in those first few months of summer, the first thing that many homeowners think of is a swimming pool. Not only is a pool a great place to relax at the end of the day or host events with family and friends, many wonder if it is also a good investment that will add value to the home. For those that are on the fence about this decision, here are some considerations to make before contacting a contractor.
The Truth Behind Property Value and Pools
Just as with almost any other addition to the home, a pool could add value, but it could also have almost no effect on the market price of the home if and when it is sold. Studies carried out by Sirmans-MacPherson’s have shown that some pools can add as much as 15 percent to the value of a home while other pools added zero noticeable benefit. This came down to a number of different factors ranging from the area of the home and the average temperature to the type of the pool and the features that were included.
Where to Begin the Process
For those that are exploring their options for a pool for their own entertainment, there are countless options available to choose from. When it comes to adding value to a home, however, the options are somewhat limited due to the current market. Owners should first begin by exploring the cost of installing a pool or if the installation is even possible due to any underground pipes or cables. Homeowners should expect the cost of a complete installation to run anywhere from $10,000 to $40,000 with some custom options running slightly higher than this. The yearly maintenance for a pool will depend on the location and the style of the pool that is installed, but most owners should expect a few thousand per year spent on supplies or professional maintenance.
Does Size and Style Matter?
For those that are looking to sell their home in the next few years and hoping that a pool will increase the chance of making a quick sale, it is important to note that some pools could add little or no value to a home. Above ground pools and ill-maintained pools will generally add zero value to the home and a damaged pool could dramatically drop the price of the property. Most homeowners will want to opt for an in-ground pool that matches the size and décor of their yard and has somewhat low maintenance costs. Saltwater pools have risen in popularity in recent years and will appeal to various demographics, but they do have a higher installation price
Pool Safety
Upwards of 10 non-boat related drowning deaths happen every single day, and this makes safety features around the pool the number one priority. Just as important as the style and overall design of the pool, homeowners should consider how safe the pool is and if potential buyers will have younger children that they will want to protect. At minimum, the pool should be in some way divided from common living areas or play areas with a fence or a wall that children cannot access without an adult. There are also a number of other features and additions that could improve safety such as underwater lights, motion sensor lights, and remote sensors within the pool.
Making the Final Decision
The final decision is going to come down to a wide variety of factors including the value that will be added to the home, the owner’s budget, and how much entertainment the pool will provide in the coming years. According to RoyalSwimmingPools.com, owners should begin with a rough estimate of how much they are willing to spend and the overall design that they are interested in. They will also need to make a variety of choices about filtration systems, if a Jacuzzi is included, increasing homeowner’s insurance costs, and even the weather in the area to make a well-educated decision.
