Summer is coming, and if you live somewhere hot, then a pool can save the day. While lounging by the pool and soaking up the sun rays in the privacy of your home sounds like a luxury, it can come with a price. It’s no secret that private home pools are expensive, even after the initial installation. Maintenance and upkeep can be pricey, but is it worth it? Additionally, it poses the question of if a pool can help or hurt the value of your home? With most things, it depends on the situation and the pool. Below are some answers to help you decide if having a pool in your backyard is a good long-term investment.
Above-ground vs In Ground
Not all pools are created equally, and there is a big difference between above-ground and in-ground pools. But what are the major differences? To start, price. Above-ground pools usually require a lot of assembly and are generally much less expensive. Additionally, unless they cause some sort of damage to the property, don’t affect the value of your home. In-ground pools on the other hand, do. They are a lot more money and can have an effect on the value of your home. Keep this in mind if you’re deciding to install a pool.
Aside from increasing or decreasing home value, pools do have a wide array of benefits. However, they also have some downsides.
- An enjoyable way to cool off during the summer
- Fun for both kids and adults alike
- An excuse to get outside on hot days
- A good form of exercise
- Pools can be expensive to maintain
- There is a lot of work that goes into keeping pools clean and running
- Can oftentimes break and require expensive repairs
As long as you understand the pros and cons of having a pool, you can make a decision that would justify whether or not a pool adds value to your home.
Return On Investment
Unfortunately, in most cases, the amount of money you spend on a pool does not correlate with a better return on investment. Additionally, having a pool could actually make your home appear less desirable to buyers. Note that there are a lot of circumstances in which a pool can add or subtract value from a home. Some of these factors include whether or not other people in the neighborhood have a pool, what the climate is year round, and if the pool is well maintained. Keep in mind that pools aren’t inexpensive and require a lot of upkeep.
How to Make the Most of Having a Pool
At the end of the day, home value isn’t the biggest factor in whether or not you should have a pool. If you believe that a pool will increase your quality of life, and you have the finances and resources to keep it running and maintained, then it’s a good idea. However, if you want to own a pool because you believe it will increase your property’s value, then you might want to rethink. Weigh the pros and cons and make your decision from there!