Does a Pool Add Value to a Property? 5 Factors to Consider for Luxury Homes in the Oregon and Washington Real Estate Markets
Do you agree that there is nothing more powerfully irresistible than the lure of a swimming pool? Lazing in the sun by crystal clear water is the definition of backyard therapy.
The kids love these water-filled retreats, of course. But even adults can take a leisurely soak.
Pools are great for entertaining and spending time with your family, but are they worth the investment?
A well-designed pool should increase your property value — but in reality, the result depends on several factors.
In this article, you will learn:
- Do swimming pools increase property value?
- Pool-installation factors that can affect your home value
- And more
Table of Contents
- Does a Pool Increase Home Value?
- How Much Value Does a Pool Add to a House?
- 5 Pool Installation Factors That Can Affect Your Home Value
- #1: Location and Climate
- #2: Neighborhood
- #3: Pool Quality
- #4: Buyer Characteristics
- #5: Pool Expenses
- Want to Know if a Pool Increases Home Value in Your Market? PEGGY HOAG REAL ESTATE Is Your Source for Luxury Homes in Oregon and Washington
Does a Pool Increase Home Value?
Do swimming pools increase property value? Several factors influence this question, but the short answer is, “it depends.”
For example, do you have an above-ground or an in-ground pool? Compared to above-ground pools, in-ground pools add significantly more value to a home.
Do you have saltwater or chlorine in the pool? Saltwater pools require less maintenance than chlorine pools. Saltwater pools are therefore more desirable and increase the value of a home.
Let’s take a closer look at how much value a pool adds to a house.
How Much Value Does a Pool Add to a House?
The value that a pool adds to your home will vary depending on various factors, but in general, pools can add 5-10% to the value of your house.
There are certain regions where having a pool adds value to a home, and home-buyers are willing to pay more for it. A pool can add $95,000 to the value of a median-priced home in Los Angeles, CA, and almost $30,000 to the value of a home in Tampa, FL.
5 Pool Installation Factors That Can Affect Your Home Value
A pool’s impact on your property value depends on the following variables.
#1: Location and Climate
Your regional location will influence the value of your pool. For example, a pool may add significantly more value to your home if you live in an area where the swimming season lasts all year long, unlike regions where the season lasts just a few months.
A pool may not necessarily add a great deal of value to your home, but it could certainly make it more appealing to buyers — especially if you live in a warmer climate.
Depending on your neighborhood, your home value can be affected by installing a pool.
The overall market in your area will influence your property’s sale, as your prospective buyer is likely to view several homes before making a final decision.
It is often the standard to have a well-maintained pool in a higher-end neighborhood.
If a pool is more or less a standard feature in your area, buyers may be expecting one when viewing your property. If most of your neighbors have pools, but you do not, it could decrease your home’s worth on the market.
So if you live in an expensive neighborhood with many homes for sale, a pool will allow you to stay competitive.
PEGGY HOAG REAL ESTATE brings over 30 years of experience in luxury, vacation, and second home real estate to the greater Portland real estate market. We can help you navigate the ins and outs of your purchase — including how to understand what affects home values.
#3: Pool Quality
How much does having a pool increase home value? That depends on the pool itself.
The quality of the pool can determine whether or not it will increase the value of your home.
When the pool is well-maintained, the answer is more likely to be “yes.” However, if it hasn’t been cleaned or maintained for years, the answer is probably “no.”
Pools with unique features, such as a waterfall, are more likely to add value. Additionally, an in-ground pool will add more value than an above-ground pool.
If you decide to install a pool, you should maintain the area around it to increase its value. Unlike an unkempt pool, a well-maintained pool will be the selling point.
#4: Buyer Characteristics
There must be a buyer for every sale. The value of your property increases if all the people viewing it specifically want a pool. It is essential to know, “Who is the buyer?”
Often, families with infants and toddlers don’t want pools. It can be dangerous to have a large body of water on the property for curious youngsters, but safety barriers can help calm parents’ fears.
However, when children are older, a pool becomes something that everyone in the family, including their friends, can enjoy.
Retired couples are not to be forgotten. The lounging and exercise opportunities offered by a pool may appeal to retirees.
#5: Pool Expenses
As fun and relaxing as a pool can be, some expenses must be considered.
If you don’t take care of your pool, it will deteriorate. Maintenance is a constant and will require:
- Buying and adding chemicals to maintain proper pH levels and prevent algae growth.
- Regularly vacuuming and cleaning the pool during the swimming season.
- Purchasing accessories such as telescoping poles and leaf skimmers.
It can be easier to maintain your pool if you hire a pool maintenance company, but they can be costly. Homeowners can significantly reduce their costs by performing some of the maintenance themselves.
Moreover, saltwater pools can save you money compared to chlorine pools. For example, the cost of day-to-day operation is less. The cost for an entire summer supply of salt is around $20 to $30 — chlorine for a summer runs from $150–$180.
The start-up cost for saltwater pools is high, but after this initial expense, maintenance is easy. Saltwater pools, therefore, end up being cheaper over time.
Consider the insurance costs for your home — your homeowner’s insurance will likely be more expensive when it comes to pools.
An external structure like a pool is usually covered up to 10 percent.
It’s also important to keep in mind that although the liability portion of your homeowner’s insurance covers pool accidents if a guest is injured or dies, you can still be legally liable if you don’t maintain a safe swimming environment for your guests.
In addition to your homeowner’s insurance, you may want to pay for a personal umbrella policy that provides liability protection beyond its limits.
Added Utility Expenses
The added utility expenses with a pool can range anywhere from $500 to $2,000 per year.
Utility costs vary depending on features such as:
- Waterfalls; and
Ask your installation professional about estimated day-to-day energy costs for a more accurate picture of your pool’s total price.
Want to Know if a Pool Increases Home Value in Your Market? PEGGY HOAG REAL ESTATE Is Your Source for Luxury Homes in Oregon and Washington
A good realtor who knows swimming pools — and the market — can make a huge difference in the success of your home listing or search. Peggy Hoag is one of Oregon and Washington’s premier luxury real estate agencies.
The properties we show regularly include luxury and niche market homes, including houses with pools.
With our real estate expertise in the area, we can make your buying or selling experience a dream come true.