Do Swimming Pools Add Value to Your Home?
Do you want to add a pool to your home, but wondering if you will see returns if you decide to sell? Do pools actually add value to a home? Well, the short answer is yes, but the long answer depends on your location and the quality of your pool.
Location, Location, Location = Swimming Pools Add Value
When assessing value, location is just as important for homes as it is for pools. Redfin found that the most valuable place to have a pool is Los Angeles, where pools can increase a home’s value by more than $95,000. But many places in Florida also ranked in the top 10 most valuable places to have a pool!
Both Fort Lauderdale and Tampa are some of the top 10 most valuable places to have a pool. In Fort Lauderdale, having a pool can add more than $36,000 to a home’s value. In Tampa, that number drops slightly to $29,000. There are many other Florida locations in the top 25 areas listed, which means that having a pool in Florida can absolutely add value to your home.
In some locations having a pool is one of the only ways to remain competitive. Having a pool is considered commonplace in certain markets, and buyers will expect it, especially in warmer climates like Florida.
Tom Casey, vice president of sales at Anthony & Sylvan Pools, spoke to Bankrate about swimming pools add value in warmer climates. “If you live in a warmer climate like Florida or Texas, it can increase your property value and make it more likely to sell your home. Coastal or resort communities with vacation home rentals allow owners with swimming pool properties to command higher rental rates than nearby properties without them. And higher-end neighborhoods are also more amenable to pools that increase a home’s resale value.”
When a home is being sold, the current owners spend their time and resources to make it look the best it can before people start seeing the house. They might hire stagers to make the home look more inviting and luxurious, or they may spend their own time and resources beautifying their home to raise the sale price.
The same thing can be said for pools. If your pool is clean, clear, and ready for someone to hop in and start swimming, it is an asset to potential buyers. However, if your pool has not been maintained or cleaned, purchasing the pool might feel overwhelming.
Swimming Pools Add Value To Your Life
Even if you find that the value-add isn’t quite what you had hoped, think about the value having a pool will add to your life. Things like happiness and family time may be intangible, but they are absolutely priceless. If owning a pool has been on your mind for a while, and you know it will make your life better, your initial investment will pay you back exponentially.
So, will swimming pools add value to your home? The answer is probably yes. As long as there is a need for it in your location and it is well-maintained and cared for. If you’re still worried about whether or not it will increase the value of your home, talk to a realtor in your area. Or get the pool anyway because it will improve your life in so many other areas than just financial!