You’re likely aware that having a pool will probably increase the value of your property. But if that’s your only reason to get one, you may want to rethink your plans. It may or may not be a good idea, depending on the circumstances. Of course, if you want a pool anyway for your own use, you may be less inclined to care about the numbers. However, regardless of why you want a pool, there are several factors to consider.
A pool is expensive. It’s not like some small upgrades that can have a major impact over time for a low cost. Unlike energy upgrades, pools don’t generate more value as time goes on; their value changes only with buyer demand. In fact, a pool will actually cost you more money over time, in addition to the large up-front cost. Cleaning and filtering costs add up over time, and having a pool increases your insurance costs. If your plans don’t include using the pool, it may not be a good return on investment. In addition, depending on the area, you may not actually want to increase your home value. Pools are ultimately a luxury feature. If you live in a low-cost area, it’s unlikely that prospective buyers searching in that area have large amounts of money to spend. Conversely, if you live in a high-cost area but don’t have a pool, adding one could help bring your home some more appeal.