The Value of a Swimming Pool
The price of a new in-ground swimming pool has been dropping recently, but it’s still an investment whether you’re looking to install something exotic and big or else something small and standard. A pool also demands a certain amount of regular maintenance and cleaning in order to keep it in good working order, which means it’s an investment of time as well as money. Fortunately, the benefits of adding a new swimming pool generally outweigh any of the minor drawbacks.
The Real Estate Value
Owning a home is a major investment in America, to the point where we put less of our money into savings and investment accounts than Europeans. As such, it’s important to know what sort of return in real estate value we can expect out of a major landscaping expense like a swimming pool.
There are a lot of variables involved, including the pool’s size, quality, and age. Geography is particularly important, as a pool’s value goes up in dry areas and in southern states where pools can stay open longer. There’s also the fact that families looking for a new home are generally divided into those who definitely want a pool and those who definitely do not want a pool.
Still, according to a study published by the National Association of Realtors, an in-ground swimming pool can increase a property’s value by 6 percent in northern states and up to 13 percent in the hot, dry states of the American Southwest.
The Practical Value
Even if a pool doesn’t add the cost of its installation directly to your property value, that’s a secondary concern anyway. The main reason you should install a pool is so that you and your family can enjoy it yourselves.
You can do a whole lot more with a pool than just splash around and get out of the heat of the average July day (although that’s plenty valuable on its own). With a pool in your backyard, you can swim for exercise and for therapy, you can teach your kids how to swim, you can play water-based sports and games, you can invite your neighbors over for a pool party, and you can do all of that while avoiding the noise and the crowd of a community pool.
Installing a pool is a big investment, and it’s not something you should decide on a whim. That said, if you know how to put a pool to good use, you won’t regret paying for it.