If you have a client considering a pool to increase the value of their home, there are a few points to consider before diving into the project.
Some potential buyers might be impressed, believing that getting a home with a swimming pool or spa is a dream-come-true. When temperatures rise, almost everyone thinks about having a swimming pool or spa in their home.
However, there is a segment of the population that worries about the cost of maintaining it or whether it adds any value to your property in the end.
These are questions that your clients will have to weigh and the best advice may be – it depends.
The pool will increase property value to a home when it is placed on the market. A pool will consistently add between 8 percent to 15 percent of the total value of a property.
According to a recent National Association of Realtors’ study, homes with a swimming pool are more attractive to prospective buyers.
The type of pool a client selects also must be considered in the value equation. An above-ground pool will not make a huge impact on the value of your property like an in-ground pool will do. Likewise, a portable hot tub will not create a huge impact on the value of your home like the one built in the ground.
Maintenance remains a key factor as it will be a major reason why a prospective home buyer would be hesitant to jump right in. A client should be well-versed with the maintenance routines and costs necessary to keep your pool in top notch shape as any prospective buyer will ask you this question.
As real estate agents, we deal with pools on a regular basis and they do have the potential of increasing a property’s value, but the amount can vary. Clients can add a pool or spa will greatly increase the value of their home if it is a complementing feature.