Does a swimming pool add value to your home?
Most real estate experts will confirm that having a well-kept swimming pool can boost your home’s value especially in a warm climate like Dallas and Fort Worth. When searching for real estate, you will certainly see a higher asking price for homes with backyards that include a pool. In fact, if most of your neighbors have a pool but you don’t, it could actually decrease your home’s value compared to the market comps.
Especially now, in the age of COVID-19, families are spending more time together outdoors so many buyers are seeking a pool. These buyers like the idea that their house can be a source of summertime entertainment and recreation since some are still concerned about large gatherings outside of their home.
However, not all pools will raise your home value. It is very important to keep your pool well maintained and have the proper landscaping to accompany it.
How much does a swimming pool cost?
According to real estate websites such as HomeAdvisor, the average cost to build an unground unite pool ranges from $60,000 to $200,000 depending on the features and size. Gunite pools are the most common in the Dallas and Plano areas because of their long-term structural rigidity, but they are more expensive than fiberglass.
How much value does a swimming pool add to a home?
According to several Dallas-based real estate experts, a pool can increase the value of your home almost dollar for dollar in today’s market. Prior to COVID-19, it was closer to 50 cents on the dollar. This means if you put in a $150,000 pool environment, it will most likely add the same amount of value to your home. However, the exact value it adds is dependent on the pool itself, landscaping, outdoor living, and also where your home is located. For example, your neighborhood and market comps need to support the value increase and if you live in an area with school-age children, you will likely see the greatest increase in the need for pools. Beware that a poorly maintained pool can bring down the value of your home and deter buyers.
The bottom line is…
The decision to put a pool environment in your backyard is not one that should be taken lightly. Be sure to do your research and consider all of the factors. But, by adding the right pool for your market, you can significantly increase the value of your home.