If you’re thinking about a pool in your back yard and wondering whether it will increase the value of your home, as a rule of thumb it will. In general, installing a swimming pool will add up to 7 percent on to your home’s value, according to Dolphin Pools, depending on the type and size of pool, and where you live. Most experts agree on one thing though; you should only put in a pool if you and your family will actually get some use out of it and a pool shouldn’t be seen just as an investment in your home. A pool can be a wonderful way to relax, and a great way to bring together family and friends, although it’s easy to install a swimming pool and then never use it.
A range of factors can affect how much value a swimming pool adds to a home, with one of the most important being where you live. A pool makes more sense if you live in an area of the country that has more pleasant year-round weather, such as Hawaii, Florida or California. In fact, in some parts of these states, a potential buyer expects a pool and adding one can definitely increase your home’s value. A pool makes less financial sense in colder weather states, such as Michigan or Wisconsin, and potential buyers wouldn’t necessarily consider a swimming pool a desirable feature. The length of time you plan to stay in your home can be a factor too; if you’re adding a pool and plan to stay in the home for 20 years before selling, you’re getting that use from the pool anyway, regardless of whether your home increases in value.
And regardless of where you live, if your home is in a pricier neighborhood where most homes come with pools, it can make financial sense to install one on your property. Most buyers also don’t want to buy a home with a pool that takes up the entire outdoor space; most of us like to have room for something else, perhaps a patio area, swing set, or area of grass. For a swimming pool to add value to your home, it also has to be attractive, properly installed and fit in with its surroundings, rather than detract from them. Keep in mind that not all buyers want a home with a pool; families with young children may not want a pool, and for many the cost of upkeep is off-putting.
There’s also the cost of installing a swimming pool to consider, and this can vary widely based on the pool type and size, and where you live. Nationwide, the average cost to install an inground pool is around $35,000. An above ground pool costs a lot less; typically, about 30 percent of that figure. Keep in mind that it isn’t just the cost of the pool itself, you may be paying for fencing, moving or installing pipes and cable, security lighting and landscaping. A patio area with outdoor furniture, potted plants and perhaps protection from the elements will increase the costs further. And once you have your pool installed, the cost doesn’t end there. Expect to pay between $2,500 and $3,000 per year to maintain and clean your pool, provide electricity and take care of any repairs.
If you are thinking of installing a swimming pool in your yard, there are different types of pool to consider. Above ground pools literally sit on the ground and require no excavations, making them a lot less costly than an in-ground pool. It’s also easier to install this type of pool, and it works a lot better if you have limited outdoor space or aren’t sure about making permanent changes to your yard. However, a permanent inground pool, which is literally sunk into the ground, is more likely to add value to your home. It also costs more, although the scope for adding landscaping, and accessories such as a slide or diving board is almost limitless.
And if you have the budget and the space for it, an indoor swimming pool may be an option. It has the obvious advantage that you can use it regardless of the weather, and many homeowners regard their indoor pool as an escape from the stress of daily living. Installing a pool inside your home will nearly always increase your home’s value, especially in a high-end neighborhood. For an indoor swimming pool that measures 12 by 24 feet, the average cost to install it is somewhere around $80,000 although it’s possible to pay a lot more than that. For a heated indoor pool, add several thousand dollars to the total cost of the project.
If you live in a warm weather state and your pool is installed tastefully and doesn’t take up too much of your available outdoor space, it’s almost definitely going to add value on to your home. However, that extra value has to be balanced against the cost of installing and maintaining your pool, the amount of usage you get from it, and whether you really have the space for a swimming pool.