The addition of an above ground pool to your backyard will definitely increase the “wow factor” for visiting friends, relatives and especially kids. Kids are always enthralled by private swimming pools and if you have one you will be immediately known as the “cool” relative or neighbor. Having a swimming pool also increases the amount of time you will spend together with your family. Because of this, a backyard swimming pool can be priceless. But will having an above ground swimming pool actually increase the value of your home? In this article, we’ll try to establish whether it will or not.
One unexpected thing that may happen when you install a pool in your backyard is that your annual housing costs may actually increase. And this increase is more than just what you would expect due to rising energy costs. Aside from increased energy use, you may find your property taxes and home insurance premiums rising as well. You may want to increase your liability insurance coverage because of the increased possibility of accidents resulting from the use of the pool.
As for increasing the value of your house, it really depends on a lot of different factors, but there’s even the possibility that a swimming pool may decrease the value of your house. The reason for this is that not every homebuyer will see a swimming pool as a plus. People with very young kids may see it as a potential hazard, whereas senior citizens may feel they’d never get any use out of it. If you’re trying to sell your house and you run into too many buyers like this, you may find yourself having to lower the selling price to attract a potential buyer.
The conditions required for a swimming pool to increase the value of your house can depend on factors such as whether you live in a part of the country that’s hot all year round. Or, if every house surrounding yours has a swimming pool, not having one might lower the value of your own property – definitely a case of keeping up with Joneses. Having a yard that’s big enough to hold the pool and still have some extra area for some sort of lawn is definitely appealing. Some buyers are turned off when the entire backyard is taken up by a swimming pool. The condition of your pool will also play a large role in the selling price of your house. If it hasn’t been well maintained you may find your property a tough sell.
Investing In Happiness
The bottom line is that if you’re thinking of installing a pool only for investment purposes, there are probably a lot of other better ways to increase the value of your house. However, if you want to install a swimming pool because you know you’ll enjoy using it for years to come, installing an above ground swimming pool may be the best investment you’ve ever made.
Now that you know more about if an above ground pool increases home value, download a buyer’s guide.