Does Your Pool Add Value to Your Home?

The experts are divided on how much a pool contributes to a home’s value. A study by One HouseLogic suggests that property valuation can increase up to 7% for homes with pools provided that it's under optimal conditions, whereas HGTV reports that it can up the home’s value by 5 to 8%. Another analysis by Redfin observed that a pool can add $11,591 to $95,393 to a property’s value. However, please note that a pool’s impact on the home's value depends on multiple factors such as:

• Buyer Characteristics - If a homeowner decides to sell their home, the likelihood for a higher resale value also depends who the buyer will be. If a buyer is specifically looking for a home with a pool, the property becomes more valuable.

• Neighborhood - The overall market in your area will significantly impact your property’s value. If installing a pool is one of the standard amenities in a home in a certain area, especially neighborhoods that consist of luxury communities, pool-free properties may have a lesser value than those with one.

• Regional Climate - A home with a pool has a more competitive edge in regions that have extremely hot climates.

• Pool Quality - The pool itself can determine whether or not it will add value to a home as it can be seen either as an asset or a liability. A well-maintained pool (add unique features such as a waterfall) will likely do.

Pondering on whether having a pool built? Consider paying for a professional appraisal. This expert can best evaluate if adding this feature will augment a home’s value or not.