Resale Value Of Installing A Pool and/or Spa
The addition of a pool is not the best investment if you are only concerned about resale value. Pools have notoriously low resale value. In fact, pools only add about 33 percent of their cost to the value of the home. So, if you spend $20,000 on a beautiful new pool, you will probably only recoup about $6,700 when you sell your home.
In addition, some buyers view pools as safety hazards and maintenance burdens. Many families with young children won’t consider homes with pools because of highly publicized drowning dangers. You also should consider the space constraints of your yard. If the pool is going to take up the entire yard, it’s probably a bad idea for resale alone.
If you’ve decided you want a pool, consider the cost an investment in your enjoyment, not just in the resale value of your home. If you are going to be purchasing a home in the near future it’s advisable to buy a home that already has a pool. This eliminates the initial installation cost and resale risk, but gives you the enjoyment value.
A spa may be a better option if you are only concerned with resale values. Spas cost much less, averaging about $5,000 to purchase. Try looking at home improvement centers or wholesale stores to find the best bargains. Most spas only cost about $10 a month in additional electricity to run (depending on usage), but repair costs seem to be their biggest downfall. Including a nice deck or patio will increase the value even more.
Whether you’re thinking of buying or selling real estate, The FREEMAN/DAVIS TEAM would love to help. For more information, please visit www.HomeSearchRALEIGH.com.