Ah, the thought of a pool in your backyard is one that conjures up images of soaking up the sun, hosting summer barbecues, and refreshing swims on hot days. If you’ve been dreaming of a pool in your backyard but are worried about the costs or upkeep, here’s something for you to consider: pools can actually add value to your home.
From the initial investment to how much your home is worth after building a pool, let’s take a dive into understanding how adding a swimming pool can increase the value of your home. We’ll explore topics like the type and size of the pool, location, and climate considerations, associated upfront costs, maintenance requirements, and more.
Read on if you want to learn more about how pools can up the ante when it comes to boosting the equity of your home.
Benefits of Adding a Swimming Pool
Swimming pools can be a great benefit to your home and its value. Not only do they increase the aesthetic appeal of your outdoor space, but they are also often seen as a long-term investment.
Here are some of the ways adding a pool can add value to your home:
Increased Home Value: Swimming pools feature prominently in many prospective buyers’ ‘must-haves’ lists, so having one in your backyard can significantly increase a property's worth.
Improved Lifestyle: Swimming is a great way to stay healthy and improve your physical fitness, as well as being incredibly fun for you and your family!
Opportunities for Entertaining: With summer approaching there’s no better spot for socializing with friends and family than around the pool in your backyard. Pool parties are sure to become the highlight events of the year!
Adding a pool to your home provides many benefits that will not only make it more desirable in terms of potential buyers but also give you and those around you more opportunities for enjoyment.
How to Calculate Pool Value
Adding a pool to your home may seem like a big expense upfront, but it can be a great long-term investment in terms of how much it can add to your home's value. One way to ensure you're making a smart move is to calculate the potential pool value before you install it.
The factors that influence pool value are fairly consistent across the board—size, use of outdoor living space, amount of landscaping, and overall design. To get an initial estimate of what your pool could be worth, consider these three equations:
Increase in Property Value = Pool Cost × Property Tax Rate
Increase in Resale Value = Pool Cost × 0.25 – 0.35
Increase in Total Value = Design and Building Cost × 2-3
By taking into account the size and use of outdoor space as well as state property taxes, you can get an idea of how much value your pool will add over time. Being informed about its worth before you jump into development can also help keep costs on track and ensure you're getting the most bang for your buck.
Things to Consider Before Building a Pool
Before jumping into the pool-building process, there are some things you'll want to think about. For example, who will be using it? The type of pool and its size should be based on the needs and uses of your family. Also, what type of climate do you live in? If you live in a cooler climate, you may want to go with a heated pool to make sure it gets used all year round.
Then there's the location—where should the pool go? You'll need to consider how large a space you have and where it's best for you and your family to access it. Another factor is cost—yes, pools can increase value, but they also come with costs from installation all the way through maintenance.
Here are a few other considerations:
- Landscaping – How much landscaping do you need to do around the pool?
- Fencing – Do you need fencing around your property?
- Building permits – What sort of building permits do you need for installation?
- Maintenance – What sort of regular maintenance is required with pools?
How to Select the Right Pool Design
When it comes to pools, you have options. And selecting the right design can make a huge difference in increasing the value of your home.
Factors to Consider
When deciding on a pool design, think about:
Maintenance: Above-ground pools require some upkeep but require less maintenance than an in-ground pool.
Cost: Above-ground pools are usually less expensive than in-ground pools.
Size: You want to make sure you pick a size that is suitable for the space you have available. Picking a pool that is too small can decrease your home's value—and picking a pool too large can be inappropriate given your space restrictions.
Style: Make sure the style of the pool matches the architecture of your home so that it adds to its aesthetic appeal.
The trick is to strike a balance between cost, size, and style while bearing in mind that an appropriate pool design can add significant value to your home. Selecting an appropriate design will also ensure you get full use out of it—both now and in the future.
Pool Factors That Affect House Resale Value
You may not realize it, but when it comes to pool there are a few factors that can tremendously affect the resale value of your house. Let's take a look at the most important things to consider when planning a pool's worth.
Size and Design
The size and design of your pool will affect how much potential buyers view it as an added value to your home. A small, simple-shaped pool won't make much of a splash compared to larger, unique setups with multiple tiers, waterfalls, and other features.
Cost to Maintain
Potential buyers will also be looking at the cost to maintain the pool. If you've got an elaborate system, potential buyers might begin to question how much they would need to pay in order to keep it up and running. If you keep the design more basic, that could be viewed as more cost-effective for prospective buyers in the future.
Location
Perhaps one of the most important factors is location—where exactly is your pool situated? Is it easily accessible from all parts of the house? Or does it require you to venture through multiple rooms? Buyers want easy access as well as privacy; if your location can provide both then you're in a good spot!
Maintenance Tips for a Long-Lasting Pool
Your pool is an investment, so it pays for you to take good care of it. Here are some tips that will help you keep your pool in perfect condition for years to come.
Make sure to regularly check your pool's pH levels and use the appropriate chemicals to balance them out. A balanced pH level will help you avoid corrosion and scaling on the interior of your pool and will also help in preventing skin irritations.
Maintain the water level in your pool. If the water level drops too low, it can cause damage to the pump or other parts of the system as well as put strain on the pool itself.
Clean out your skimmer baskets at least once a week or whenever they become clogged with debris or algae buildups.
Don’t forget to clean out your filter once a month and check other parts of your filter system for signs of wear and tear or broken parts that may need replacement or repair from time to time.
Make sure to cover your pool when it's not being used—it will help keep debris from getting in and also reduce evaporation, saving you money on refilling costs!
By following these tips, you'll ensure that your pool stays in perfect condition, adding value to your home for many years to come!
Conclusion
Pools can certainly add value to your home, but like anything else, there’s no one-size-fits-all solution. You’ll want to weigh both the costs and benefits of installing a pool before making the decision. It’s also important to consider the specific location and buyer demographic you may have in mind when thinking about pool value.
Ultimately, adding a pool to your home can be a great way to increase its worth, particularly if it suits the demands of current and potential home buyers. However, it’s important to understand the entire process of installation and upkeep before diving in.
Doing your research before taking the plunge is the best way to ensure that your pool adds the most value to your home as possible.