Swimming Pool Return on Investment
19 Apr Swimming Pool Return on Investment
Swimming Pools: Valuable Home Upgrade or Just a Pain in the Wallet?
This is probably the most common question that homeowners have about a swimming pool: Will it add or detract from the value of my home? This question is a very complicated one, and the answer will vary depending on a number of factors. This post from Money explores this question in detail, and will hopefully provide some clarity on an otherwise murky subject.
Here is an excerpt from the post:
The average in-ground swimming pool costs $21,919, according to home improvement site Fixr. And that’s for a pretty basic 32’ by 16’ model. (Eleven years ago, we spent about $24,000 on our pool plus that pavered patio.)
But that’s just to build the thing. Then you have to take care of it.
Not only are we basically lazy people, my husband and I learned that keeping a pool clean and clear is actually tricky business. After a few too many “Ooh, why is your pool water green” comments (we have a salt pool, so no algae-killing chlorine), we gave in and 911-ed the pool service company.
Cost: $85 a month, plus an extra $1,000 or so a year for annual maintenance items (new filters, etc.) Then there’s the pool vacuum we had to replace last year ($600) and now we’re dealing with frequent leaks. At 11 years old, our pool needs resurfacing—that’ll be $2,500 please.
Oh yeah, and then there’s the patio furniture we need to replace (the Florida heat, storms and salty air is hell on outdoor surfaces), the new layer of sand we need to throw on the patio every year or so and the outdoor sound system we “had to have.” Finally, a pool pump and, if you go that way, a heating system will absolutely up your utility bill, and it will almost certainly bump up your homeowner insurance premiums because of the increased exposure to liability.
Click here to read the entire post