A house with a swimming pool often elicits an impression that it would always sell for a higher price, but a 2018 report showed that the value appreciation varies on your location.
In Texas, homes with swimming pools in Austin, Houston, and San Antonio went for sale at a more expensive price. This also indicated that the price of maintenance could be less affordable than the cost of swimming pool repair in Keller and other suburban cities in the state. Still, there are other factors that could affect the actual contribution of a pool to a property’s value.
The Top Markets
Austin only ranked behind Los Angeles in terms of the added value of a swimming pool for a house. Almost 5% of the houses that exchanged possession in Austin had an appraised value of more than $50,000. Lost Angeles ranked way ahead of the other cities since an average home with a swimming pool added almost $100,000 to the asking price.
Homeowners in Houston sold their homes with a premium of almost $36,000, while the added price for San Antonio homes was the smallest among the three Texas cities with just $18,500. The premium for properties in cities outside Texas depends on the climate and community.
For instance, a homeowner in Phoenix could only increase the price of their house by around $12,000 when they add a pool. It’s still a better return than houses with swimming pools in Boston, where a home without a pool sold for $15,000 more partly because the cold weather makes it impractical to have one.
How Much Does a Swimming Pool Cost?
An average in-ground swimming pool construction may cost between $35,000 and $65,000, so think carefully if you only want to add one to increase the price of your house. It’s possible to spend below $30,000, but this may require you to pick a smaller size and fewer features. Take note that above-ground pools don’t actually add any real value, so this is best for those who just want to a form of relaxation.
Whether or not you choose to build an in-ground type, you could also need to pay a higher insurance premium. Pools often increase the probability of accidents at home. It’s advisable to increase your coverage to at least $100,000, which may increase your payments by $30 per year.
The Price of Ownership
Once you decide on the type of pool, don’t overlook the cost of maintenance especially if you want the pool to raise the value of your property. The typical price for maintaining a pool ranges from $55 up to $700.
This could be done weekly, every two weeks or each month depending on how often you use it. Some kinds of pools like natural ones need less maintenance, which could only cost around $80 per month.
Ask a professional appraiser to determine the estimated value of keeping a swimming pool. The actual price will depend on the sunny weather in your area and the number of pools at other homes in your neighborhood among other factors.