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We get this question all the time. Here’s the bottom line…
Having a swimming pool built is not cheap. If you spend $20,000 on a pool, it will not add $20,000 to the value of your home. Sadly, it may add nothing to the value of your home. Don’t add a pool to your home if you expect to recoup the cost upon sale. It just doesn’t work that way. Add a pool to your home because you want a pool. A pool is an outstanding investment in terms of recreation, fun, enjoyment, enhancing the appearance of your back yard and it provides great exercise. (In Phoenix, having a pool may mean being able to survive the summers comfortably!) There are dozens of great reasons to have a pool, but adding value to your home isn’t one of them.
(I should note that what I say above pertains to the Phoenix area. The reason it’s this way here is because so many homes have pools. In some parts of the country, a pool is rare and does add a premium to a home.)
What a pool can do is help you sell the home when the time comes. MANY people home shopping in Phoenix want a pool. We’ve had clients look at homes they loved but didn’t buy because there wasn’t a pool. Having an existing pool appeals to many home buyers. But note that there are some who don’t want a pool and won’t look at your house because it has one.
This question is currently the most viewed question on our Real Estate FAQ site.
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{ 4 comments… read them below or add one }
I just got thru handing a handkerchief to a guy who put in a $100K indoor pool. Complete with lounge area and central heat/air.
He didn’t even get 10% of that back in value because it was considered ‘overbuilt’
This is one of the great misperceptions home sellers have, so no wonder it is so popular in your Real Estate FAQ.
In the northeast, pools are a polarizing issue for home buyers. They either want one, or they don’t want to handle all the maintenance involved in owning something they’re only going to use for 4 months. We’ve been advising home sellers for years to temper their expectations when they say things like, “but I have a pool,” etc.
@Dallas: What does “overbuilt” even mean? I would think that the more you put in the more you get out of it. Just having some trouble comprehending the logic behind that.
**Pool Table´s last blog post..Venom’s Shots #44
Well i just sold my house in Darwin Aus and adding a pool worth $20,000 added $40,000 to the sale price! But everyone wants a pool in Drawin