Here’s a cool and refreshing thought: Swimming pools are getting more popular.
Despite delays for some equipment and building materials, the swimming pool construction industry has grown 2.4% per year on average since 2017, according to market research company IBISWorld. And it’s expected to continue over the next five years — buoyed by virus-averse homeowners who want to avoid public pools and communal beaches, and splash in the privacy of their own homes.
Which raises the question: Does a swimming pool add value to your home? Research suggests that it can — but not always. Unlike most landscaping and other exterior home-improvement projects, it’s complicated. Let’s look at the pros, cons and factors influencing the issue.
Does a pool add value to a home?
First off, let’s define our terms. When we say swimming pool, we mean an in-ground pool — the permanent kind that requires a large hole to be dug in your yard, not the above-ground type that resembles a big tank. “In many markets, in-ground pools are preferred and above-ground pools do not increase the value of a home,” Melissa Zavala, a broker with Broadpoint Properties in San Diego, says.
Many experts say having a well-kept pool can boost your resale value. “If you search for real estate, you will most certainly see a higher cost for homes with ready-made backyards that include pools,” says Ralph DiBugnara, president of New York City-headquartered Home Qualified, a digital resource for homebuyers, sellers and Realtors.
Pools are particularly coveted in regions where they can be used year-round. “If you live in a warmer climate like Florida or Texas, it can increase your property value and make it more likely to sell your home,” notes Tom Casey, vice president of sales at Anthony & Sylvan Pools in Doylestown, Penn. “Coastal or resort communities with vacation home rentals allow owners with swimming pool properties to command higher rental rates than nearby properties without them. And higher-end neighborhoods are also more amenable to pools that increase a home’s resale value.”
In fact, if most of your neighbors have pools but you don’t, it could decrease your home’s worth on the market. “But if you live in a typical community where some houses have pools but most do not, having a pool built will probably not have any impact on the value of your home,” cautions Robert Taylor, owner of The Real Estate Solutions Guy in Sacramento, a home-buying and flipping company.
How much value does a pool add to a home?
The experts are a split on how much a pool can contribute to a home’s value.
One HouseLogic study suggests an increase …….
Source: https://www.bankrate.com/homeownership/pool-add-value-to-home/