Fixr puts the average cost of building a pool at $50,000. Meanwhile, HomeGuide lists average inground pool prices as a range from $28,000 to $55,000. Either way, it’s clear that a swimming pool comes with a substantial price tag. Plus, you may have related projects such as fencing or landscaping that will cost as well. Homeowners considering pool installation, especially those looking into pool financing, often want to know if it increases their house’s value. Here are a few considerations as you weigh the swimming pool as an investment and otherwise evaluate it as an asset.
9 Reasons Why A Swimming Pool Is A Good Investment
#1. Pools boost your property value.
Is a pool a good investment? It certainly makes your home more appealing. A report from the National Association of Realtors (NAR) released several years ago found that property values rise an average of 4 to 6 percent when an inground pool is installed. In other words, buying a pool will typically add $20-30,000 of value to a $500,000 property. That is a conservative estimate, though: college professor and writer Neil Kokemuller says some realtors report it can increase value by as much as 25 percent.
Pools did not always make such a positive impact on home values, but fiberglass, salt, and other recent technologies have decreased the common perception that pools are high-maintenance.
While the above statistic does not account for a pool’s entire cost, you should expect to get a large amount of what you spend back in property value.
#2. Florida pool buyers should expect greater returns.
In Florida, you will get a greater return than in most states — simply because the swimming season is longer. Since the amenity is useful more months out of the year, it will give you a greater boost to value. In turn, Philadelphia architect Designblendz notes that the residual value of a pool is approximately 5 percent higher in southern states. In that sense, when you ask, “Is a pool a good investment?” the answer is more affirmative in the Sunshine State.
In fact, it will get more people in the door when you sell your home. More buyers are interested in properties with pools in warmer climates, noted Kokemuller — so your price will rise naturally from that increase in demand.
#3. Pools keep you home, where you aren’t spending money.
Pools may not usually have a 100 percent return on investment, but they also save you money – justifying pool financing. If you and your family are not going out for entertainment, you save on the costs. Rather than a movie and restaurant, you’re likelier to want to grill out and play in the pool. Rather than driving to other kids’ houses and burning gas, the pool parties are at your place. The question, “Is a pool a good investment?” is partially answered by what you no longer spend.
Again, NAR backs up this notion, with its 2018 Remodeling Impact Report finding that pools are likelier to make people want to stay at home than any other popular outdoor project:
4. New patio — 84 percent
3. Landscape upgrade — 85 percent
2. Statement landscape — 87 percent
1. New pool — 92 percent
Investing in a pool means you are perfectly prepared for a staycation. The staycation (a concept that emerged in the early 2000s and may have resulted from people’s fear of traveling following 9/11) is a no-brainer when you invest in your yard.
If your pool can convince you to skip a vacation you would otherwise take, the savings it generates are incredible. Poolside staycations are not uncommon, especially for new pool owners who really want time to enjoy the fresh space.
#4. The value of the pool is influenced greatly by its condition.
Condition is critical to your pool investment as with any investment. By choosing a highly rated pool builder with ethics and expertise, you will have a pool that is likelier to age well. Plus, you need to make sure you keep it well-maintained. In other words, the question “Is a pool a good investment?” is answered, in part, by your care. Resurfacing can be especially helpful to get the most out of the pool if you plan to sell your home in the next few years.
#5. Energy savings lead to higher pool ROI.
You can positively influence the answer to, “Is a pool a good investment?” with the right planning. To maximize your pool investment, consider energy-efficiency and outfit the amenity accordingly. Energy-efficiency gives you immediate savings and also makes the pool more appealing to buyers, increasing residual value.
If you do get eco-friendly equipment, you need to make sure the circulation quality does not drop. Talk with your pool builder about how to maintain the health of your pool water while adopting an energy-efficient approach.
#6. Pool shapes come and go.
Shapes of pools can rise and fall in popularity. For instance, a trend in the 1990s was kidney-shaped pools — but these pools are uncommon today. You want a timeless shape if you are concerned about the impact on property value. If you want people to be attracted to your pool in a couple of decades, choose pools that are rectangular and/or that have straight edges.
#7. The location of the pool affects its value.
Your pool should look inviting when viewed from your home. Since it will become such a backyard centerpiece, you want to make sure it is in the right position. Beyond simple aesthetics, consider sun exposure, wind exposure, noise, and how close it is to the house.
#8. Pools give you stronger community stature.
You can have church get-togethers or business mixers at your home when you have a pool. You can establish stronger bonds with the people in your neighborhood and local area, better integrating you socially and better networking you for professional purposes.
#9. Keep it simple.
One thing that can dampen residual value is the long-standing perception of day-to-day maintenance needs. Today, though, there are technologies that can allow you to skip nearly all the most frequent maintenance. Pool chemical management systems are one example. You can also use automatic vacuums. You can even use comprehensive in-floor cleaning systems to clear out debris and ensure strong continuing circulation.
Is A Pool A Good Investment?
Yes, a swimming pool is an excellent investment if you consider the various extra-financial ways it adds value and are careful with the specifics. Before you look into pool financing, though, make sure you have a builder you can trust. At Olympus Pools, from the time you contact us, we work closely with you to ensure your swimming pool surpasses your expectations.