Everyone can agree without a doubt – having a swimming pool in your home is a huge luxury and is so much fun. Picture this, it is a hot summer day and you are sipping on some chilled lemonade by the poolside and playing with your friends and family and having a great time. A swimming pool in a home not only guarantees some of the most fun and memorable experiences, but apart from that it also increases the value of your home. This is a very important aspect of the real estate industry since this is a market that is constantly thriving. Adding a pool to your home is a fun recreational activity as well as a future investment.
Let’s face it – installing a swimming pool in your home is not a cheap affair. It requires a fair amount of thinking and planning, both logistically and financially. Therefore only about 16% of homes have had swimming pools installed in them. But what can be said of that 16 % of homes are that they will have higher real estate value as compared to the other pool-less counterparts?
Why must one consider getting a swimming pool in their home?
If you have made your mind up about reselling your home at some point down the road, then this is a great move for you. Along with having a pool in your home, a great location also does wonders for the reselling value of a home. Of course, takers for a house with a swimming pool in a location where the winters are long and harsh would be way less when compared to homes with a swimming pool in a location where it is bright and sunny on most days of the year. Research has shown that homes with pools have a 7% higher value as compared to homes without a swimming pool.
Before you go ahead and install a pool in your home, it is a great idea to calculate the cost of installing a high-quality swimming pool. Once you have a rough figure of the investment required from your end, then you can use the 7% statistic and calculate the reselling value of your home in a few years. This math will help you analyze and have a ballpark figure as to how much this swimming pool can actually add to the value of your home. Based on this calculation, you can estimate and make a call as to how worth this investment is in real-time.
How to decide whether you should install a pool in your home or not?
- If you want to get a higher resale value on your home
According to studies, if a home has a swimming pool, the chances of it having a higher resale value increase. Homes with pools usually end up being sold 7% higher than others.
- If you enjoy pool-related activities
What fun is it having a pool but not using it at all? Make sure that all the members of your family are okay and look forward to having a pool and spending an adequate amount of time in it. Getting a swimming pool purely for increasing the value of your home is not reason enough for you to invest in one. And swimming pools are quite an expensive affair.
- If having swimming pools in your neighborhood is popular
It makes no sense to get a swimming pool while having the idea of reselling your home for a higher return on investment when the people in your area have absolutely no interest in buying homes with swimming pools. You need to make sure that your target audience is correct.
- You are ready to take on all the responsibility that comes with getting a swimming pool
Swimming pools are fun and a great investment, but they sure are a lot of work. From monthly pool maintenance to regular cleanups and checkups, you need to be prepared for all of this. If you are having second thoughts, it is a better idea to wait it out and be sure about your decision.
What makes a house have greater value?
- Having a swimming pool which is in tune with the latest pool trends and follows a style which is sought after in your neighborhood
- You do your bit and get your pool serviced and cleaned on a regular basis
- The location of your home is popular and sought after
- The pool is not older than 10 years and is in great condition
While we know that installing a swimming pool in a home can be quite a heavy investment, you must remember that like most investments, they often do pay off in the longer run. If you are looking for a higher reselling value on your home, then getting a swimming pool is the right move for you.