Pools. Do They Help or Hurt When it Comes to Selling Your House?
There is not a one size fits all answer to this question. As with many things in life and in the home buying and selling process, it depends. A few factors that will come into play.
- Do the other homes in your neighborhood have pools? If most of the other homes in your neighborhood have a pool and yours doesn’t, it could be looked at negatively. It may be looked at as a standard that your home doesn’t live up to.
- It depends on the buyer. If the buyer has young children who are toddling around, they may not want a pool because of safety issues.
- What is the quality of your pool? If your pool is gorgeous, has landscaping around it and is well maintained, it could add a lot of value to your home. On the other hand if it is old and needs work, it could take a lot of the value out of your home.
- The local climate. This one may seem a bit obvious… but if it’s cold most of the year, a pool won’t be as desired as it will be in a place where it’s warm most of the year. For example, in the mid-west, reports show that a pool can add anywhere from $0 to $40,000. However, in LA it typically ads $95,000.
- Property value vs. the cost of installing a pool. Typically, the cost of installing a pool in your home will not be more than the value it adds to your home.
It seems that the decision to add a pool should be based more on your own budget and desires. If you think you would enjoy and use a pool, go for it. If you think it’s too much work and might end up looking run down, it may not be in the cards for you.