A swimming pool can affect the resale value of a home but the impact depends on various factors such as the location, demand for pools, and the type of pool. Generally, properties with a pool sell for around 7% more than those without one, but this figure is more likely in affluent areas or where swimming pools are in high demand.
However, some buyers may not want a home with a pool, which could limit the number of prospective buyers interested in your home at the time of sale.
It's essential to maintain your pool and keep it in good shape to avoid negatively affecting your resale value. Before making a decision, research the local market to see how popular swimming pools are in your area. Additionally, consider factors such as maintenance costs, insurance, and the impact on your outdoor space.
Buying a house with a pool has several advantages, including:
- Increased home value: Homes with pools typically sell around 7% more than comparable homes without pools.
- Entertainment: A pool offers a great space for hosting parties, gatherings, and spending quality time with family and friends.
- Cooling off: During hot summer days, a pool provides a convenient way to cool down and escape the heat.
- Exercise: Swimming is an excellent form of low-impact exercise that can improve cardiovascular health and overall physical well-being.
- Staycation: Having a pool in your backyard can create a vacation-like atmosphere, allowing you to enjoy a relaxing staycation without leaving your home.
Buying a house with a pool comes with several disadvantages, including:
- Maintenance costs: Owning a pool requires regular maintenance, which can be expensive and time-consuming.
- Limited buyer appeal: Some potential buyers may not want a home with a pool, which could limit the number of interested buyers when you decide to sell.
- Increased insurance costs: Homeowner's insurance premiums may increase due to the presence of a pool.
- Safety concerns: Pools can pose a safety risk, especially for children and people who cannot swim. You may need to invest in safety measures such as fencing and pool alarms.
- Higher property taxes: A pool is considered an addition to your home, which can increase your property taxes.
Keep in mind that owning a pool also comes with maintenance costs and responsibilities. It's essential to weigh the pros and cons before deciding to buy a house with a pool.
Talk to us if you are considering purchasing a home with a swimming pool or if you would like to install a new one in your current home.