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So you’re thinking of installing a pool.
You have the space. You love the idea of resting by a crystal clear swimming pool on a hot summer evening. Why not? Best of all, you’re thinking of the bigger picture, asking the necessary question: will a pool add value to my home?
Many homeowners consider upscaling their home’s amenities by installing a swimming pool. Not only is a pool a fun addition to your home but it’s also a desirable incentive for prospective buyers when deciding to sell your property. But does this dream investment really add value to your home?
As you weigh the decision to install a pool, you’ll need to evaluate the additives that come with: increased liability, annual maintenance, installation fees, and more. Let’s take a look at what all to consider when installing a pool in your home.
How much value will a pool add to your home?
Installing a pool on your property adds an estimated value of 7 percent at the most. Mostly, the property value usually increases from 5 to 8 percent. Of course, there are many variables to consider that may raise or lower your value percentage.
To begin, where do you live? Is there a surplus of pools or little to none in your neighborhood? Commonly, in areas with a below-average of in-ground pools, a homeowner with a pool could experience a significant increase in value. In addition, neighborhoods with more children may also increase this value. These are just a few factors to consider.
Please keep in mind: the presence of a pool alone won’t spike up a high resale value for your home. You must consider the cost of maintenance and the condition of your pool when selling.
Things to Consider:
As far as what to examine, let’s take a deeper dive. In addition to location, there are other variables you should account for. Expenses such as in-ground pool cost, professional pool services, and more.
Average Cost
To install an in-ground pool, the average cost ranges anywhere from $34,600 – $67,000. This leaves you with a lot to consider when purchasing a pool.
Annual Maintenance
Frequent pool maintenance can average anywhere from $600 to $13, 000 annually if performing maintenance yourself. The cost also depends largely on your home’s location, if you live in a warm climate or cold climate, and the size of your pool.
Do You know about Pool Automation?
Other small maintenance items you’ll need:
- Pool filters
- Muriatic acid to lower pH level
- Chlorine to neutralize harmful bacteria
- Muriatic acid to lower pH levels
- Soda ash to prevent excess acid
- Test kit to gauge pH levels
- Replacement test kit solutions
- Pool skimmer
- Vacuum to pick up items missed by skimmer
- Pool cover
Professional Pool Services
However, if you’re seeking professional services, this could equate to anywhere from $110-$175 per month. Of course, the professional pool service expense also depends on the size of your pool and how detailed the services are. If looking for reliable pool maintenance service, Emerald Pools and Spas offers an all-inclusive pool maintenance service plan to keep your pool in pristine order so you don’t have to.
Electricity Costs
If you’re running a circulating pool pump, this will typically cost you $300 per year. If you heat your pool using an electric heat pump, add an additional $500 to $800.
Insurance Costs
And last but certainly not least, the addition of a pool installation will surely increase your home’s liability. This will, in turn, raise your home insurance fees. Overall, most policies will cover pool-related incidents, however, you should probably increase your liability to ensure that your insurance is equipped for any accidents that may occur.
Still Unsure? Get an Appraisal.
Ultimately, having your home appraised is the surest solution to determining if a pool will add value to your home. Schedule two appraisals: one of your home as it is; another one for if you added a pool. This will allow you to see the value difference.
An appraiser examines and compares similar homes with pools to issue a fair market value. For example, if your home is valued at $330,000 without a pool, and $365,000 with a pool, but the cost to install is $65,000—this means that the pool installation would not add value to your home.
Overall, the pool is a wonderful utility for you and your family. Celebrate familial occasions. Use it for therapeutic purposes. Never run out of things to do. The many personal benefits of an in-ground pool alone are enough to consider installing one into your home. That is, of course, if you’re comfortable with annual maintenance and cleaning. That’s where Emerald Pools and Spas comes in.
If you’re stuck trying to figure out pool maintenance and cleaning arrangements, contact the experts at Emerald Pools and Spas! Maintain the value of your pool with affordable, yearly pool maintenance that doesn’t break your bank.
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