How Much Value Does A Pool Add To Your Home?

Pool
Adding a swimming pool can add value to your home.

A swimming pool can be a wonderful addition to any home, providing years of enjoyment and memories. Of course, a common question that comes up from many homeowners is: “Will adding a pool add much value to my home?” Like many questions in real estate, the answer is not always straightforward. For example, in locations with warm weather, palm trees, and plenty of sunshine, a swimming pool is almost an expectation in many areas. Alternatively, a backyard shimmering oasis can really be viewed as a unique perk in other parts of the country.

The potential payoff of a pool

In the right market, a pool can be a swimmingly good addition. According to some experts at HGTV, an in-ground pool can potentially add 5 to 8 percent to your home’s value. For a $400,000 house, that’s a boost of $20,000 to $32,000. Especially in warm climates like Florida, where pools are practically expected, they can be a major selling point. Of course, given the recent inflationary/economic challenges for many households, the appeal of staycations has also increased the popularity of private swimming pools.

Factors to consider when adding a pool

Of course, adding a pool is not a one-size-fits-all situation. Here are a few factors to take into consideration:

  • Climate: Pools are more desirable in places with long swimming seasons. In areas with short summers, they might be seen as a money pit.
  • Market: Is there a high demand for homes with pools in your area? Talk to a local realtor to get the scoop.
  • Property Value: Adding a pool to a lower-priced home might not make financial sense. The cost of doing so could outweigh the value increase.

For more information on things to consider, check out our previous article here.

Summary

Ultimately, the decision of whether or not to add a pool is a personal one. By weighing the potential financial benefits with your own desires, you can make a smart splash for your home. You may want to discuss the impact of a pool on your home’s value with your local and trusted real estate agent or even a local property appraiser. In addition, it is important to take into consideration the amount of enjoyment that a pool may bring for your household. Needless to say, you can not put a price tag on memories that are created with your family.

Are you looking to buy or sell a home in the South Florida area? We can help! Contact Natasha at Live South Florida Realty, Inc. today! Also, be sure to download the free Florida Home Search app for your smartphone or tablet.

By natasha moore

REALTOR® with Live South Florida Realty, Inc.