Add Value to Your House by Having a Swimming Pool
Having an indoor pool is not only mirthful but also useful in many ways. It adds value to your summer days. But does it add value to your property?
The answer precisely is yes and yet there are some key facts you have to take into consideration. Value addition to a house by having a swimming pool is a pretty good idea; especially when you want to sell it.
It should be noted that according to One House Logic Study a pool adds value to a house up to 7 % while in the analysis of HGTV tells that it can increase up to 8 %. Brokerage Redfin, on the other hand, presents a report where the price value can rise from $11,591 to $95,393.
However, on either way to reach a successful point, you must meet certain conditions.
So, you need to answer some basic questions before adding a pool:
- Do you live around warm climate places like Florida or Arizona?
- Do your most of your neighbors possess an indoor pool?
- Are you in a real estate market?
- Do you have enough space to place a pool?
- Do you have insurance coverage?
Do you live around warm climate places like Florida or Arizona?
Warm states like California, Florida, Arizona, and Hawaii are suitable enough to have to pool and sometimes even badly in need of one. A family with kids would find it lovely to have a home where they can unfold their sunscreens, goggles, and towels and take a nice long bath. According to some home blogs you can keep your pool always clean by having a robotic pool cleaner and by using winter pool chemicals as needed.
In particular, facing this pandemic time of the Coronavirus people are looking for a house with a pool. They cannot just go to the beach out of whim and get sick. The Broker with Broadpoint Properties in San Diego mentions that people are especially seeking a home with having an indoor pool because they like to keep their all summertime entertainment within their territory. As dwellers cannot go out carelessly, having a pool makes sense and thus adds value.
Do your most of your neighbors possess an indoor pool?
If most of your neighbors have pools and you don’t then chances are higher that you are putting a lower value on your property. Consequently, your investment in a pool would be solid because most of your neighbors own one.
Are you in a real estate market?
Given these points, if you are in the real estate market and willing to sell a house quickly then having a pool might not be bad at all. It actually depends on the buyer’s capability and needs.
For instance, Raine & Horne, the chairman, and CEO of Real Estate company convey that – some buyers may shy away while some may get interested just because of having a pool. In this case, you need to know what area you are in and what type of customers you are most likely to deal with.
Do you have enough space to place a pool?
It is important to note that you should never place a pool in a way that dominates the space leaving a little or no yard. In fact, a customer’s decision essentially depends on the maintenance and presentation of the pool inside a house.
It would be better to talk to a real estate agent before including an extra pool in your property; maybe you will get some cost-effective ideas. Remember, it’s always better to consult before outlaying big money.
Do you have insurance coverage?
Most importantly, you must check if you have enough insurance coverage for the pool or not. Not having proper insurance can turn out to be an absolute nightmare. Plus, you must manage better access to machinery. Having a pool with poor maintenance is not enough; it must meet a standard to attract buyers.
Types of the pool to add value to a house
Most importantly, you need to have a strong idea regarding different types of pools and their status. Knowing the approximate cost you may come to terms with.
Above-Ground pools are cheaper compared to other types. Even so, you need to have a flat, level, and compacted base without any interaction of tree roots or hard rocks. The side walls must be 48 inches to 52 inches. The taller a wall is the higher the price rises.
To install it you buy a kit and set it yourself. Or you might hire a professional. Aim for a kit that contains a wholesome package including a pump system, pool filter, and access ladder. On contrary, you may buy items separately. In that case, you have to invest an additional $500 to $1,500.
Inground pools add aesthetic value to a home. However, they are not cheap. You will need on an average scale of $ 30,000 to $ 50,000 depending on the size. Differing from it, with amenities like landscaping, waterfalls, lighting, and large size you might even require more than $ 100,000.
If you want to add decency in your design, an inground pool is an ideal option. It ensures quality and attracts buyers easily.
This type of pool is cost-effective and not pricy. It is made of rigid steel, composite panels, plastic, and thick vinyl. Also, vinyl pool kits are available which are eventually set on site.
Unlike other types, vinyl-lined pools are not strong. You need to replace it every 10 years and the cost is likely to be $3,000 to $4,000.
Find buyers with professional bits of advice. It is necessary to anticipate the right customers and their needs. That’s why you should work in collaboration with an expert real estate agent who can suggest you with ideal features of a pool and attract buyers.
Conclusion: Value addition to a house having a swimming pool is not a myth. It does add value but it largely depends on various facts like proper research on customers, climate, and cost. Given the current situation of the coronavirus pandemic, a pool can be an aesthetic social hub for a family replacing the beach or sea. So, it’s not a bad idea to place one.