In this article I will discuss the ways in which a swimming pool can both positively and negatively impact property value. Believe it or not there can be a negative impact on property value with a swimming pool. A perfect example would be a swimming pool in Alaska. Not much need for a swimming pool in the snow, right? In some cities a pool is an asset while in others it could be a liability. It is always best to check with a real estate agent in your area to see which would be best for you.
Let us start with the pros on property values of having a swimming pool. As we all know the psychological effect of a swimming pool is cool, fresh, relaxing.
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Pros For A Swimming Pool:
- Sunny cities increase a swimming pool’s value because there is more time to spend in the pool versus non sunny cities. The more sun days you have the more valuable the swimming pool becomes. Also the more fun the kids will have along with you.
- If you plan on living in your home for 15 years or more it is an asset to have a swimming pool. Because it is your pool and by then the value of the swimming pool should increase in that length of time so as to not hurt the value of the home.
- Increases resale value to the home. Plus pools nowadays are cheaper to install than they were ten years ago.
- A home with a swimming pool generally looks lavish and can improve the overall look of your house. Plus, it can be promoted as an ‘added feature’, especially if it is in a very hot region and made in a beautiful manner. A good swimming pool design (indoor or outdoor) can make your house standout.
Cons For A Swimming Pool
- You may not receive back all the money it cost to install it. If you paid $40,000.00 to install your swimming pool, you cannot just tack on $40,000.00 to the asking price. This really depends on the market rates in the area of said swimming pool as well.
- Some people just do not like swimming pools and do not want the hassle of hiring a pool man, cleaning it themselves, and the added expense of utility bills. So the percentage of people thinking of buying a home can be lower with a swimming pool.
- Home owner’s insurance rates are higher. The amount of the increase can be quite different from insurance carrier to insurance carrier.
- “Attractive Nuisance” is what your swimming pool is called by insurance companies. Mainly because it is dangerous around children and it increases your insurance premiums.
- In most cases you will have to pay more tax on your property if you have a pool. No one likes more taxes on their property let alone any other place.
There you have it; your pros and cons on the impact on having a swimming pool can be both positively and negatively impacting your property value. Many Daybreak Utah homes for sale come with a swimming pool, and it is totally your call to buy one with a pool or without a pool. In simple words, it is more of a personal choice. If you think the pleasure you derive out of a pool is more than the trouble (mostly financially) it brings then there is no reason why you should not go for it.
It really depends on quite a few things in order to determine which house to buy, the one with the swimming pool and all its happiness and possible problems, or a house without a swimming pool. So, you do your calculations and decide which is best for you and your family, because at the end of the day, family comes first.