Does a Pool Increase a Home’s Value? Experts Weigh In
A pool is a man-made structure designed to hold water for recreational activities such as swimming, hydrotherapy, bathing, and even cooling off. Pools can be built in the house or in the ground using concrete, plastic, metals, natural stone, and fiberglass.
A pool affects a home’s value as they are expensive to install and maintain. But this depends on factors such as:
- Where your home is located
- The pool size
- The climate around your home
- How the pool is maintained
- The pool design
- The overall space of your yard
According to HGTV, real estate experts estimate that an average of 14 by 28-foot in-ground concrete pools can significantly increase a home’s value by 5 to 8 percent.
The Financial Impact Of a Pool On Property Value
Pools add value to homeowners’ homes in regions where swimming is a lifestyle. Take, for instance, areas such as Texas, Florida, and Southern California. In these regions, pools are a must-have, and they can not be compared to areas such as Alaska, Minnesota, and Michigan that experience cold weather temperatures.
These areas experience extremely cold seasons and have a limited swimming period; having a pool in these areas may have little to no value.
Experts’ Opinion on The Pros and Cons of Installing a Pool
Gold Medal Pools reports that installing a pool offers homeowners a range of benefits, like achieving a healthy lifestyle, which helps reduce stress and promote better sleep.
Pros of Having a Pool
- Swimming pools encourage family bonding.
- A well-maintained pool increases the value of the property.
- Swimming promotes physical fitness through body workout.
- Water has a calming effect, which helps reduce stress levels.
- A well-maintained pool adds an aesthetic appeal to your property.
Cons of Installing a Swimming Pool
Installing a swimming pool has a set of drawbacks:
Safety
Safety precautions should be taken as pools are dangerous for children and pets; these precautions include;
- Installing a fence around the pool.
- Having proper swimming equipment.
Installation Costs
Pools have a high cost of installation, and in addition to that, you need to;
- Treat the water.
- Ensure that the pool is clean.
- Purchase filters and pumps.
- Buy the necessary chemicals needed to maintain the alkaline level of water and stop algae from growing.
- Backwashing the water in the pool once every season.
Having a Pool Insurance Cover
Pools need insurance coverage. However, this insurance does not cover damages caused by earthquakes and other intense weather conditions. Therefore, you must repair the damages with your own money.
Construction Materials
It is hard to decide what material to use during construction.
Cost vs. Benefit Analysis: Is Installing a Pool Worth It?
The cost of pool installation depends on the region, the size of the pool, and the material used during the construction. The cost of installing a pool in the northern parts of the USA ranges from $45,000 to $85,000, and in the Midwest, the installation costs are $35,000 to $70000.
According to Today’s Homeowners report, installing Vinyl-lined pools costs $ 40000 to $65000. Concrete or gunite pools cost $50,000 to $100,000, and fiberglass pool installation costs $ 60,000 to $120000.
Large pools tend to be more costly as they have special features and customizations that require large sums of money. A 30 by 50 vinyl liner pool costs around $130000. These pools require annual maintenance, insurance, and heating, which may be expensive to handle depending on the pool size and other factors such as home age and credit score. On average, you can insure your pool for $1226.
However, as reported by Angie’s List, homes with pools have an average resale return on investment (ROI) of 56%. These returns are limited to factors such as the location and features of the pool.
