What could ever be wrong with having a house with a swimming pool? There is no denying that a pool is the perfect spot to entertain, host family get-togethers, or just cool off on a hot summer day. Plus, it seems intuitive that a swimming pool adds property value to a house.
But do pools actually add property value? The answer is a little more complex than just a simple yes or no. While swimming pools definitely can increase a home’s resell potential, there are many cases in which they can actually detract value from your home.
Positives of a Swimming Pool
Let’s start with the positives of having an in-ground pool at your home. First and foremost, your pool needs to be in proper working order for it to have any benefits. Even pools with cracks or faulty filters will detract from your home’s resale potential. However, a properly functioning and clean pool can make your home more appealing to buyers. This is especially true if two identical houses are for sale in the same neighborhood. The house with the pool will almost certainly have a slightly higher sale price than the other.
Negatives of a Swimming Pool
The way in which a swimming pool affects resale potential mostly relates to the potential buyer’s personal preferences. For instance, a pool can have a negative impact if a family with very young children is looking for a house. Even a pool with a fence and locks can be a safety hazard. Other people are turned off by the idea of buying a house with a pool because they do not want to have to perform the regular maintenance that it takes to keep a pool in running condition. When you factor in chemical maintenance, homeowner’s insurance, and electricity, an in-ground pool can cost over $5,000 per year to maintain.
The Importance of Location
It goes without saying that swimming pools are more attractive to buyers in areas where they can be used longer than just three months out of the year. Houses with pools in these warmer climates often greatly increase a house’s value. At the same time, many communities in these warmer climes will have neighborhood pools. A home with a pool in a community with a neighborhood pool will be much less of a selling point.
At the end of the day, what it all boils down to is personal preference. If you want to install a pool, do it. Just think about it in terms of enjoyment instead of investment.
You should never install a pool just because you want the investment to come full circle when you sell your home. You should only install a pool for the enjoyment that it will provide. For people that love to swim and be in the water, the pros of installing an in-ground pool greatly outweigh the cons, even if it detracts from the home’s overall resale value.