Should You Invest in a Swimming Pool?
When it comes to increasing the value of your home, you may think that adding a pool to your backyard is a good investment. After all, we all remember the kid in the neighborhood that had the swimming pool and opened it up for swimming parties throughout the summer. Still, while many people enjoy having a swimming pool, there are many that don’t want the hassles of pool ownership either. Therefore, adding a swimming pool to your property isn’t necessarily a good way to boost its resale value.
Reasons to Avoid Putting in a Pool
When it comes to selling your home, having a swimming pool can be more of a liability than a help. For parents with small children, for example, a swimming pool is looked as a potential danger rather than a joy. After all, it doesn’t take much for a curious child to wander over to a pool and fall in. Therefore, you can lose a significant part of the market when you have a pool on your property.
A pool will also reduce your available market because your home will simply be too expensive for them to buy. In order to recoup your expenses, you will ask a higher price for your home. As a result, certain potential buyers will not be able to pay the additional costs or won’t be willing to pay the higher price for a home with a pool. So, you will be faced with either having to drop your price or waiting longer to find a buyer that is willing and capable of buying your home.
When Having a Swimming Pool Can be a Plus
Although having a swimming pool can be a liability, there are certain situations during which it is advantageous to have a swimming pool. For example, if you live in a neighborhood where most of the homes have a pool, failure to have a pool can significantly bring down the value of your home. Therefore, it is important for you to consider your neighborhood when determining whether or not having a swimming pool is good investment.
If you live in a neighborhood that caters more to middle-aged buyers with teenage children, having a swimming pool will also be more of a draw. After all, by the time the kids are teens, safety concerns are not as great and teenagers love the idea of having a pool to enjoy with their friends.
When all is said and done, having a pool will certainly increase the overall value of your home. At the same time, it does not have a significant return on investment. In fact, most appraisers will deduct anywhere from 40 to 60% of what you paid to install the pool when determining the value of your home. Therefore, if you want to have a pool and you plan to stay in the home for years to come, go ahead and install one. If you are planning to move in the near future, on the other hand, don’t view a pool as a good investment.
About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of on-line home appraisals and offers a nationwide personalized instant informational report about home appraisal. For more information, please visit .
www.electronicappraiser.com .
Reasons to Avoid Putting in a Pool
When it comes to selling your home, having a swimming pool can be more of a liability than a help. For parents with small children, for example, a swimming pool is looked as a potential danger rather than a joy. After all, it doesn’t take much for a curious child to wander over to a pool and fall in. Therefore, you can lose a significant part of the market when you have a pool on your property.
A pool will also reduce your available market because your home will simply be too expensive for them to buy. In order to recoup your expenses, you will ask a higher price for your home. As a result, certain potential buyers will not be able to pay the additional costs or won’t be willing to pay the higher price for a home with a pool. So, you will be faced with either having to drop your price or waiting longer to find a buyer that is willing and capable of buying your home.
When Having a Swimming Pool Can be a Plus
Although having a swimming pool can be a liability, there are certain situations during which it is advantageous to have a swimming pool. For example, if you live in a neighborhood where most of the homes have a pool, failure to have a pool can significantly bring down the value of your home. Therefore, it is important for you to consider your neighborhood when determining whether or not having a swimming pool is good investment.
If you live in a neighborhood that caters more to middle-aged buyers with teenage children, having a swimming pool will also be more of a draw. After all, by the time the kids are teens, safety concerns are not as great and teenagers love the idea of having a pool to enjoy with their friends.
When all is said and done, having a pool will certainly increase the overall value of your home. At the same time, it does not have a significant return on investment. In fact, most appraisers will deduct anywhere from 40 to 60% of what you paid to install the pool when determining the value of your home. Therefore, if you want to have a pool and you plan to stay in the home for years to come, go ahead and install one. If you are planning to move in the near future, on the other hand, don’t view a pool as a good investment.
About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of on-line home appraisals and offers a nationwide personalized instant informational report about home appraisal. For more information, please visit .
www.electronicappraiser.com .
Labels: appraisals, home construction, home remodel
posted by Electronic Appraiser at
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