How Does an Inground Pool Add Property Value?
There are so many reasons to get a pool with all the fun, exercise, and socializing you can do with one. When purchasing a pool for the whole family, you want all you can get out of it, which may make you think an inground pool isn’t your best option. If you ever decide to move because your kids have moved out, you’ve recently got a new job, or just because you want to, you can’t take an inground pool with you. That means selling the house and leaving behind all permanent fixtures, such as an inground pool.
But what if an inground pool is a good investment? A good investment means that you’re putting money into something that can lead to you getting more money. What if we told you an inground pool would add property value to your home? The average home is a single-family home, and they accumulate in value over time. Pools help that value increase by a percentage, which means that when you eventually sell your home and inground pool, you’ll be selling it for more money than you bought, barring some unforeseen circumstance in the housing or pool market.
If you’re on the fence about an investment that appears to only be for fun, then let us break down how an inground pool is more than that.
How Much Property Value Do Inground Pools Add?
How much value a pool adds to your property depends on several factors. Typically, the average 14×28 inground concrete pool can add anywhere from 5 to 8 percent to your property’s real estate value. This means as your property grows in value, the amount of value a pool adds only grows as well, while the cost of installation remains largely the same.
There are some factors that can lower or raise the increase in property value an inground pool can add. It’s important to take these factors into account before making a large investment.
It might seem strange, but whether or not your neighbors’ homes have pools drastically affects how much having a pool changes your home’s property value. Local real estate markets are based around your home compared to other homes around the state, your county, and your block.
Being a nice home in a neighborhood without pools drastically increases how much property value an inground pool adds to your home, for example. It works both ways too. Your neighbors affect your property value so much that if most of them have inground pools and you don’t, your property value can drop or slow in its rise.
It’s all about how your property compares to the others around it, and with how synonymous inground pools have become across the United States, you may be losing property value by not having one.
We live in Northeastern Pennsylvania, which is not warm all year long like it is in other states such as Florida. Comparing how an inground pool increases value in a southern part of the country is misleading when talking about Pennsylvania. But, since we are a landlocked state, access to swimming is restricted, and having a pool lets you swim where few people can. This drastically increases its value.
Should you or your family ever seek to sell your house, a house with an inground pool will make it highly sought after compared to other homes in the state overall. This allows you to raise your asking price for your home over other houses in the neighborhood.
Difference Between Above-Ground Pools
You’re probably wondering, “what about above-ground pools? If I get one of those, won’t they raise my property value too? ” While they can raise a property value a bit, you can also take them with you, which makes it far less meaningful to your property. Also, it’s not an unsafe assumption for any potential buyer to think you will take it with you when you move out.
Above-ground pools are perfect for people who want to be able to swim wherever they go. If you know you’re definitely going to move in the next ten years, it might be a better option. Just don’t expect an above-ground pool to raise your property value.
Enjoy Yourself and Raise Your Property Value at the Same Time!
With an inground pool, you have an investment that you and your whole family can enjoy. You can participate in one of the most popular activities in the United States any time you want over the summer, and when it’s time to move on, it’ll help you sell your home. If you’re unsure as to what kind of inground pool is right for you, contact us at Aqua Leisure Pools & Spas. Our experts are waiting to help you.