How Does a Swimming Pool Affect My Property Value?
How Does a Swimming Pool Affect My Property Value?
Thinking about building a swimming pool but worried about how it may affect your property value? Learn about the relationship between home value and pools!
Keyword(s): swimming pool
The latest figures reveal around 5 million inground swimming pools in the United States. That means around 4 percent of all U.S. households have an in-ground pool.
There's nothing like a refreshing swim on a hot summer day. It's even better when you don't have to get in a hot car to go to the pool.
But does a swimming pool affect your property value? There's more than one answer to that question.
Read on for some answers to the question of the relationship between a swimming pool and home values.
How Much Is an In-Ground Swimming Pool?
When it comes to pools, cost estimates are tough. There are tons of variables because you need more than a pool. You also need fences, landscaping, and decking.
If all you install is a small pool, you might get it for around $30,000. But the true cost is typically closer to six figures.
Most in-ground pools are made with gunite. This is a mix of sand and cement. It's popular because it's flexible and accommodates any shape.
Vinyl liners and fiberglass shells are other options. They're both cheaper but don't last as long as a gunite pool.
Extra Energy Costs
Adding a pool means adding energy costs via the heating system and filtration pump.
Newer pumps use far less energy than the old pumps which cuts operating expenses. But you'll spend about $500 for a pump.
A gas heater is an inexpensive option for purchase and installation. But it's operation and maintenance costs are high. The less expensive electric heat pump is more energy efficient with lower operating costs.
Regular Maintenance
Along with heating and filtration costs, you've also got regular maintenance and upkeep.
The water needs balancing and the pool needs regular cleaning and sanitizing. If you're maintaining the pool yourself, expect to spend about $600 in a seasonal climate.
If you're operating the pool year-round, maintenance costs are about $25 per week.
Don't Forget Insurance
A pool does add a layer of liability that non-pool households don't have. But the extra insurance doesn't add a ton of cost. It's about an additional $30 per year.
Home Value
After taking all this into account, does the swimming pool add value to your home? Yes and no. If you live in an upscale neighborhood where most of the homes have pools, the answer is yes.
A pool is a personal preference. Some people want them while others see them as a liability.
There are intangible benefits to a pool. You'll get many years of fun in the sun with an in-ground pool. From barbecues to swimming parties, the fun is at your house if you've got a pool!
Will a pool add to your quality of life? Then it's a good option for you.
Enjoy Your In-Ground Swimming Pool!
Installing a swimming pool is a personal choice that may or may not add value to your home when it comes time for selling.
Only you can decide how much value a pool adds to your life. A good rule of thumb is to keep your pool costs under 15% of what you paid for the house.
And then enjoy your pool!
Looking for more informative pool-related articles? Take a look at our blog here.