Does a Pool Increase a Home’s Value? Experts Weigh In
Living in a region where palm trees are common often means that a pool is not just a luxury but an expected property feature. However, in many other parts of the country, a pool is viewed as an added perk rather than a necessity.
This raises a crucial question: does having a pool improve your home’s property value? The answer isn’t straightforward.
“In Southern California, where abundant sunshine makes backyard pools a standard amenity, a pool definitely increases property value. But this isn’t necessarily the case nationwide,” explains Andrew Pasquella, a Sotheby’s International Realty realtor.
The Impact of Pools on Property Value
The influence of a pool on property value varies based on location. Pasquella notes, “In areas where pools are rare and viewed as special features, they can boost property value.
However, in colder climates where pools are unusable for several months, the added value diminishes, causing prospective buyers to weigh the pros and cons carefully.“
For regions with limited swimming seasons, a pool might not appeal to the average buyer. “In markets with warm weather year-round, such as Los Angeles and Miami, a swimming pool often becomes a must-have,” says Andrea Saturno-Sanjana, a broker with Coldwell Banker Warburg, who operates in New York City and Washington, D.C.
“However, in places where pools can only be used seasonally, buyers tend to evaluate whether the benefits outweigh the concerns,” she adds.
Advantages and Disadvantages of Owning a Pool
As with any home feature, owning a pool has benefits and drawbacks.
Advantages:
- Rest and Relaxation: A pool provides a personal space for relaxation and social gatherings with friends and family.
- Luxury Appeal: Pools are often seen as luxury items that add to the homeowner’s pride.
- Increased Property Value: When well-maintained, a pool can enhance the overall value of your property.
Disadvantages:
- Maintenance Costs: Ongoing expenses include water treatment, pump and filter repairs, and general upkeep.
- Safety Concerns: Pools can pose risks for families with pets and young children, potentially requiring additional insurance.
- Space Consumption: A pool takes up significant backyard space, limiting room for other activities like sports or playgrounds.
Pasquella elaborates, “While having your own pool can feel luxurious and serve as a great space for entertaining, it can also be a safety hazard and a maintenance burden. Additionally, it can reduce precious outdoor space depending on your property size.”
Considerations for Adding a Pool
Deciding whether to add a pool to your property involves balancing personal desires with potential resale value.
“Adding a pool can be a costly project, so homeowners must carefully consider their reasons,” says Pasquella. “If the primary goal is personal enjoyment rather than immediate resale value, a pool can bring significant joy and a new dynamic to the property.”
The National Association of Realtors Remodeling Impact Report for 2023 highlights that adding a pool gives homeowners a “joy score” of 10 out of 10, indicating significant enjoyment and satisfaction post-completion.
“The key consideration should be whether a pool is an amenity you will enjoy while living in the home,” advises Saturno-Sanjana. “Whether for daily swims or as a beautiful feature for outdoor events, if you will enjoy having a pool, then it’s worth considering.”
When adding a pool solely for resale purposes, Pasquella warns, “If you aim to increase resale value, it’s crucial to do it right. Poorly executed upgrades can become downgrades, burdening potential buyers with extra costs for repairs.”
Conclusion
Whether a pool enhances your property value largely depends on your geographical location and the quality of the pool. Pools can add luxury and enjoyment to your home, but they also come with maintenance costs and safety concerns. Therefore, homeowners should carefully weigh these factors before taking the plunge.
If you are considering adding a pool or are curious about how it might impact your home’s value, it is highly recommended that you consult with real estate professionals and conduct thorough research.
