The decision to install a pool is never an easy one. While you are weighing all the pros and cons, it’s important to consider how it can affect the price of your property. Thankfully, this one is easy. A swimming pool can increase your home’s value significantly.
That’s one of the reasons why the number of residential pools in the USA exceeds 10 million. Many homeowners aren’t installing pools just to boost their quality of life, improve the microclimate of their yards, or make their kids happy. They are making a smart financial investment.
How Much Can a Swimming Pool Increase Your Home’s Value?
A swimming pool is a significant addition to your property. It immediately increases the appeal to the potential buyer. In California or Florida, where pools are highly common, not having one in your yard could be a serious downside.
Swimming pools improve your curb appeal, make the days you spend in the yard cooler, and create a wonderful environment for parties and family gatherings.
But by how much (on average) can a swimming pool increase a home’s value? According to a Redfin study, a pool can add up to an impressive $100,000 to a home’s value.
When the COVID-19 pandemic landed people at home, the demand for pools on properties increased substantially. One study suggests that the value an inground pool adds to a home spiked by 69%. Clearly, adding a swimming pool to your backyard is something to consider.
Factors that Affect the ROI of Your Swimming Pool
While the return on investment (ROI) and benefits a swimming pool can bring to your home can be pretty substantial, the actual amount a pool can add to your property’s value depends on a number of factors, including:
The Style of Your Pool
The style of the pool is a big factor. If it suits the neighborhood and your property, it can add more value to your home.
Today’s pools come with a huge variety of potential options. Often, traditional pool styles are more appealing to potential buyers. So, if you are thinking about selling your home in the future, you may not want to opt for highly customized or unique options. It may be hard to find a person with a pool taste that matches yours.
If you’re planning to be in your home long term, however, or have a “common” unique taste (like waterfalls or poolside living spaces), your options are endless and will likely contribute greatly to your home’s future sales price.
The Condition of Your Pool
The condition of your pool is just as important as its style. You can increase the value of your home if you:
- Install it properly – poorly installed pools start breaking down and leaking with time. A simple inspection can reveal any faults in your pool.
- Clean it regularly – this involves clearing debris, removing sediments, and keeping water and pool walls clean.
- Maintain it in a timely manner – regular professional pool maintenance can keep your pool in top shape.
Poorly maintained pools lose their appeal quickly. By the time you decide to sell your home, it can have problems that are hard to overlook.
The Age of Your Pool
No matter how well you maintain the pool, its age can play a major role. If the pool is over 15 years old and needs a good update, it’s unlikely to add any noticeable value to your home.
Meanwhile, a new pool that’s made of modern materials and boasts top-notch equipment can contribute to the higher price tag on your property.
One of the main factors that affect how much a swimming pool can increase your home’s value is the needs of your potential buyer. If you manage to find a buyer who has water-loving family members, they will be ready to pay extra for the pool.
If you live in a state with a hot and humid climate, the pool can be highly beneficial for the value of your home. Since a pool on the territory can create a special microclimate by decreasing the air temperature, they are in high demand in states like California, Florida, and Arizona.
Even if your state doesn’t have warm weather all year round, hot summers can also contribute to the demand for swimming pools and a rise in property value.
If you live in a neighborhood where nine out of ten properties come with a swimming pool, not having one could negatively impact the value of your home.
High-end neighborhoods tend to have properties with swimming pools since they are in high demand. If you are planning to sell a home without a pool in a neighborhood where pools are a must-have, you may have trouble finding a buyer or setting a high price tag.
Other Reasons a Swimming Pool Increases a Home’s Value
A swimming pool in your backyard is a great addition to any property, not only because it offers an enjoyable family pastime and relief from high temperatures, but for a few other reasons as well:
A Stellar First Impression
When a potential buyer enters your property, you have only a few seconds to make a first impression. Before they reach the front door, you can give them a tour of the yard.
If one of the first things they see is a well-maintained and beautiful pool, your chances of making a great impression skyrocket. Many potential homeowners love pools because they offer an excellent opportunity to enjoy life to its fullest without having to leave home. That’s why a high-quality pool easily increases a home’s value.
By adding a swimming pool to your property, you are increasing its functionality tremendously. The good-old family barbecue turns into a fun party with pool games, diving, and sunbathing.
Besides being a great entertainment feature, swimming pools can improve your health and save you money on gym memberships. Since the functionality of your home is higher, so is its value.
Stand Out from the Crowd
While installing a pool is usually a must-have in high-end neighborhoods, it can also be a way to stand out from the crowd in other areas. If not too many homes in the neighborhood have a pool while yours does, it can also appeal to a buyer.
Many people who aren’t ready to spend too much money on a luxury home still want a property with a pool. By standing out from the crowd in your neighborhood, you are attracting more buyers and gaining an opportunity to sell your house faster.
Increase Your Property Value with a Swimming Pool
If you are contemplating a swimming pool installation, property value is one major factor you’ll want to consider. By adding a pool to your backyard, you are increasing your home’s value and gaining access to numerous benefits. That said, the quality and ongoing condition of your swimming pool is a major factor that affects the increased value. That’s why it’s important to choose the right contractor.
At California Pools, we have decades of experience installing, upgrading, and remodeling swimming pools to create the backyard oasis of your dreams while increasing your home’s value. Find a location today to get started with a consultation.