There’s no denying that a body of water, be it a man-made pond, a Japanese birdbath, or a decorative fountain, can be an irresistible add-on to a home’s property. But what about an inground pool? Certainly, a pool will provide tons of fun in the sun for the entire family. And fun can translate into precious memories that will last a lifetime.
But will a pool add financial value to your home and property? Put another way, when you go to sell your home one day, will the price you finally agree upon be enough to cover the costs not only associated with the pool’s construction also but its annual maintenance? Or, to quote HGTV, will you end up “taking a bath on your investment?”
A pool is always about the enjoyment it can provide you and your entire family so create a beautiful design of a pool you can reach the well-known pool builder experts in orange county. You really can’t wait to see all those happy faces on the kids as they dive in, swim, and splash one another on a hot summer afternoon.
On the other hand, in-ground pools require a strict maintenance and repair regimen that can get expensive. According to Manning Pool Service of Houston, when it comes to pool repair service, you need to hire a professional, certified outfit you can trust. Improper handling of repairs can lead to much bigger and more expensive issues in the future. By hiring a pool repair team who makes sure everything is running smoothly, your monthly maintenance expenditures will actually decrease throughout the year, saving you cash and increasing the value of your investment. Something to bear in mind when weighing overall cost against enjoyment.
With that said, here are some other factors that will help you determine if constructing an inground pool will add value to your home and property.
If your home happens to be located in a neighborhood where inground swimming pools are prevalent, investing in a pool of your own can be a good financial move. If yours is one of the only homes on the block without a pool, its value will more than likely decrease, lessening its overall marketability.
This is especially true of warm to hot climates like Arizona, South Texas, Florida, and more where a pool is not necessarily a luxury, but a necessity. Also, if you happened to be located within a real estate market where homes are known to sell relatively quickly, an inground pool might not deter a prospective buyer from agreeing to your ideal asking price.
Says the real estate experts, an average 14X28 inground pool constructed of concrete can add 5 to 8 percent to your home’s overall value. If your property is assessed at $400,000 your pool will boost the value from $20,000 to $32,000. However, the construction of 14X28 foot inground pool can run around $50,000, which technically speaking, translates into a loss when you go to sell.
But, if you’re selling a house with a pool that’s been uniquely designed, well-maintained by certified professionals, and that contains attractive features like decks, shade structures, pool houses, attractive landscaping, and more, you will likely increase its value. That means recouping all and/or more of your initial inground pool investment.
But the flipside to this is that if your pool hasn’t been well maintained, or it’s been stuffed onto a too small yard, your property value will almost certainly go down.
Consider the Ongoing Costs
Once you’ve made your initial investment in the inground pool’s construction, you must consider the ongoing costs associated with its proper upkeep. These costs can also affect the overall value of your home, not to mention your own time.
Maintenance, including pool cleanings and chemicals, can cost you about $500 to $1,000 per year, that is you do the work yourself. If you live in a hot climate, the annual cost for maintenance will naturally be more than if you live in a seasonal climate like New York State, since you will be using the pool year round.
Certified professional pool repair and maintenance outfits who do everything from cleaning both pool and filters, to making chemical adjustments can run anywhere from about $80 to $150 per month. You will also need to pay them $150 to $300 for a pool opening at the beginning of the warm season and the same amount for a pool closing at its end.
Power costs for running a circulating pool pump will average about $300 per year. If you choose to add a heater to your inground pool, figure adding $500 to $800 in your yearly energy bills.
You also have to add in increased liability insurance, depending upon which state you live in. It’s best to check with your homeowner’s insurance agent prior to breaking ground on your new pool to get an idea of the extra fees you will be paying.
Owning an inground pool can give you and your family hours upon hours of fun and enjoyment. But it will cost you a pretty penny. Whether you can make this cost up when you go to sell your home is, in a word, to be determined. It all comes down to whether you feel adding a pool to your property is worth the money.