We live in East Texas where summers are long and bring intense heat. It's not uncommon to find local pools packed with people on any given 100° day. Finding a cool oasis on a hot summer's day can be just the escape needed from the Texas heat. So it can be a natural conclusion that adding a pool can bring big value to a home on the market. But does it prove true? Let's take a look at the pros and cons:
For home buyers who want a pool, having a well maintained pool is a definite plus. But that's obvious, right? People who like pools value them. But for people who don't like pools (do these people exist in Texas?) a pool can actually eliminate the home from the potential list all together. Having a pool can limit your audience, even in a hot East Texas summer.
There are varying statistics as to how much a pool can actually affect home value, ranging from -3% all the way to +15%. This is a huge swing for sellers to gage, especially if you are considering adding a pool to boost value.
These are important percentages to keep in mind, considering pools can cost anywhere from $10,000-$100,000!
If you're adding a pool, keep these points in mind:
- Make sure you have a yard that is large enough. Having a pool with zero grass in the backyard can hurt your value. Homebuyers with pets or kids may struggle with the lack of actual yard.
- Can your neighborhood support a pool? If all of your neighbors have pools, it's probably a safer investment. However, if nobody has a pool, you may want to rethink the build. This theory is similar to the "largest/nicest home on the block" theory. The biggest home on the block will likely have a lower value because of it's lower valued neighbors.
- Type of pool also makes a big difference. Buyers tend to prefer gunite pools over lined or above ground pools. They tend to last longer have less long term maintenance costs.
So you're thinking of adding a pool before you sell you're East Texas home this summer? Do your research and talk to an experienced agent before you dump the cash. Your money may be better spent on fresh landscaping or refinishing a bathroom.
Of course, if you love pools and are ready to take the dive, go for it! You can't put a monetary value on spending your summer poolside with family. Especially when the temperature tops 100° in the coming months!