One thing to consider in the decision to build or renovate a pool is the effect it will have on the value of your home. For that reason, people often ask…
Does a swimming pool increase the resale value of my house? If so, how much?
The truth is, its a difficult question to answer because it depends on a number of factors:
1) Climate. Here in the Tampa, Florida area where the temperature outside is warm enough to swim 8-10 months a year, pools get more use and are more highly valued. In fact, some parents with kids 5-18 years old may consider a pool a “must have” to keep their kids physically active and entertained during the summer. Further north, pools are less important and thus less valued.
2) Neighborhood. In the Tampa area, most homes in neighborhoods above the median price range have swimming pools. Therefore, not having a swimming 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 of the pool. A beautiful, well-maintained pool can add tens of thousands of dollars to a home's value. On the other hand, a pool in disrepair can actually decrease a home's value because some potential buyers will think of it as something they need to repair. Some potential buyers may even take a home off their list of consideration if it’s in poor condition.
4) Amenities. For many people, buying a home is not really about the house itself, it’s about the lifestyle. When people see a backyard, can they envision themselves hosting evening parties with guests gathering around a fire pit with sounds of water features in the background? Grilling in an outdoor kitchen? Serving drinks to friends from an outdoor bar? If they can, they’re likely to pay more for your home.
If you’re 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.