Does An Inground Swimming Pool Increase The Value of Your Home?
02 Jun Does An Inground Swimming Pool Increase The Value of Your Home?
Does a Swimming Pool Increase or Decrease Your Home’s Value?
From Dave Ramsey
An inground swimming pool in one’s own home is the ultimate American Luxury Item. Most people realize that undertaking an inground concrete swimming pool project on one’s home is a relatively expensive proposition, but certainly a worthy one–or is it? Many people wonder when they are doing a remodel or addition to their home: How much of their initial investment will they recoup in home value? With an item as costly as an inground swimming pool, the calculus is the same. This post from Dave Ramsey attempts to use math and logic to answer this age old question once and for all.
Here is an excerpt from the post:
If you’re over the age of 3, we know you’ve been there. It’s one of those lazy, hot summer days when you long for the cool, crystal-clear waters of your very own swimming pool just outside your back door. No need to pack up towels, sunscreen, floats and swim goggles so you can load up in a sweltering car and drive to the community pool. You just open the door and paradise awaits.
Of course if you’re a homeowner, that vision of paradise tarnishes a bit when you think about how much it will cost you to install and maintain a pool. And what about resale value? Will adding a pool increase the value of your home when you decide to sell it?
That’s a great question, and the best answer is maybe—if you’re lucky.
That’s probably not the answer you were hoping for on this sizzling summer day. But there are plenty of reasons to be cautious about adding a swimming pool.
Add Up the Costs
Let’s start with the obvious—how much will it cost to install a swimming pool in your yard? According to Houselogic.com, the National Association of Realtors’ online magazine for homeowners, the average cost to install, equip, and fill a 600-square-foot concrete pool starts at $30,000.
You’ll also need to enclose your pool with a fence—a requirement in most states. And don’t forget lighting and landscaping. How many family vacations could you pay for with that kind of cha-ching?
Click here to read the entire post