Pools have gained popularity since the onset of the coronavirus pandemic. With more people spending more time at home than ever before, coupled with restrictions or closures at local recreation facilities, having a pool at your home lets you keep an at-home oasis. While having a home with a pool is currently hotter than a balmy summer day, we wanted to outline the scenarios where a swimming pool can boost value across the board. There are a handful of key variables to consider and weigh when it comes to understanding if a swimming pool adds value to your home or not.
Inground pools will typically lead to an increase in your home value, but above-ground pools might not. Let’s look into each option in some more depth below. When compared to inground pools, above-ground pools aren’t seen as being nearly as upscale or sophisticated. One of the biggest factors that can determine whether or not an above-ground pool will increase your home value is the quality.
This will have an impact on whether or not you see any return on investment from the installation and maintenance costs. The location also matters when it comes to this question. In places where there are warm temperatures year-round, an above-ground pool can potentially add value. If this isn’t the case, homebuyers might feel like the amenity isn’t essential and actually sacrifices valuable yard space.
Above-ground pools aren’t allowed in many homeowners’ associations. You typically find this style of pool in rural settings and older neighborhoods. If you choose to get an above-ground pool, think of it as an investment for your own enjoyment rather than as a scheme to increase your home value.
Inground pools do typically increase your property value but read on before you start scheduling quotes from local pool installers. Though it might increase the value of your home, you still might not recoup your investment.
In ideal circumstances, installing an inground pool can boost the value of your house by as much as 7%. Considering how much it costs to install a pool, this means that you likely won’t increase your home’s value as much as it cost you to install the pool. You can’t sidestep this issue if you build a pool that is too elaborate or fancy when compared to your home, either.
You might consider hiring a professional appraiser if you are thinking about building a pool and are concerned with its impact on the value of the home. They will be able to help estimate how much of an increase, if any, you can expect for your home’s value. You can then weigh out whether or not this works for your specific needs.