Across the country, summer is winding down and you may notice many people in your neighborhood putting the cap on the season by spending as much time as possible lounging around. Many people add backyard pools to their property as a way of uniting the family and providing a means of spending fun in the sun instead of staying indoors vegetating in front of the television. But if you don’t have one, you may be asking yourself if there are any other benefits to having a pool installed. Is there a potential that adding a pool will increase the value of your home in today’s real estate market? Let’s take a look at the basic facts (https://www.totalmortgage.com/blog/homeowner-tips/adding-a-pool-to-your-home-a-value-run-or-money-plunge/33359).
There is no real connection between installing a pool in your backyard and an increase on your investment in your home’s value. But there are some conditions to adding a pool that could have an impact on selling your house. These include:
- Many people are more interested in a large backyard than a pool. First, there’s less upkeep on landscaping than on cleaning and maintaining a pool. So if your pool takes up a huge portion of the yard, it may be a turn-off to potential buyers. However, if the pool fits into the landscape of the yard and doesn’t dominate it, then you are more likely to attract potential buyers.
- It can be a real headache to try to keep up with the neighbors as they make improvements to their homes. However, if everyone in your neighborhood has a swimming pool and you don’t, it can negatively impact your property because other homes that are for sale may look like a better investment to a new home shopper. In addition, if you live in a region that is always warm and where temperatures routinely top 100 degrees, like the Southwest, then some people may actually see a pool as a necessity.
- It is usually better to upgrade your home and its features instead of adding a pool if you are looking for a high return on your investment. At the lowest end of the spectrum, a basic pool can run as much as $30,000. However, there is no real chance that it will add the same value to your home. Instead, think about upgrading kitchen and bathroom fixtures to more luxurious features. You can also landscape your backyard and make it more inviting without adding a pool. This is cheaper and will still raise the curb appeal of your home.
Ultimately, adding a pool to your property is a personal decision. While it may not make your home more valuable, it will add value to your personal life as you spend hours and hours bonding with your family and relaxing.