One of the things most people think about when considering whether to renovate or build a Tampa swimming pool is how much value it will add to the home.
If a home's value will increase by as much or more than the cost of the pool, it's more likely to be viewed as an investment. But if the home's value will increase by significantly less than the cost of the pool, it's more likely to be viewed as an entertainment or lifestyle cost.
For that reason, people often ask…
How Much Does a Tampa Swimming Pool Increase a Home's Value?
Its a difficult thing to quantify because it depends on a several factors:
1) Climate. In warm climates where the temperature outside is hot enough to swim 8 to 10 months each year, Tampa swimming pools are used more often and are more desired than in cold climates. In fact, some parents with kids may even consider a pool a “must have” to keep their kids busy and physically active during the summer when it feels too hot to do other outside activities. Further north, pools are less important and thus less valued.
2) Neighborhood. Here in the Tampa area, most homes at and above the median price have swimming pools. Therefore, not having a pool can hurt a home’s resale value. In lower-priced neighborhoods where home buyers are more price conscious, the value of the pool is more likely to get "squeezed out."
3) Condition. A beautiful, well-maintained pool can add tens of thousands of dollars to a home's value. On the other hand, a pool in poor condition can actually be worse than no pool at all because some prospective home buyers will see it as a repair expense. Some prospective buyers may even take a home out of consideration because they just don't want to deal with the cost and hassle of renovating a pool.
4) Amenities. For a lot of people, buying a home is not as much about house itself but about the lifestyle it makes possible. When prospective buyers see a home's outdoor living space, can they see themselves grilling in an outdoor kitchen? Serving drinks to friends around an outdoor bar? Hosting evening parties with guests gathering at fire pit with sounds of water features in the background? If they can, there's a good chance they will pay more for your home.
If you are thinking about building or renovating a pool for your home, contact us at Grand Vista Pools. We can discuss with you in greater detail how to maximize your pool’s value.