Nothing can be better than the feeling of getting to enter a home’s backyard to enjoy a swimming pool as the summer sun beats down on you. Nevertheless, if you happen to live in an area that is frequently cold, that feeling can become even more exciting when it starts to warm up. With that said, in what way is a home’s value impacted by owning a pool? To answer this we need to discuss a few of the benefits and drawbacks that have an impact overall.
Benefits of Owning a Pool
It is obvious that a pool can easily drive up the value of a home in areas that are hot. In actuality, a normal family home in Tallahassee, Florida that does not include a pool can have a price tag of at least $165,000. However, a home in the same area that includes a pool can easily be at least $230,000. These prices also include an analysis of what effect the pool will potentially have in regards to the home’s value. Based on these analyses, it can be said that a home’s value is able to increase at an exponential rate.
Drawbacks of Pool Ownership
Pool maintenance and upkeep can cost a pretty penny when it’s all said and done. Depending on where you live, the overall cost might become more of a burden than anything. In a climate that is ideal on a seasonal basis, you should set aside at least $500 for yearly maintenance and upkeep if the cleaning will be completed by you. In a climate that stays warm all year then the cost could be at least $20 every week. Not surprising is the fact that this weekly fee does not include any cost for up-keep for the pool cleaners, heaters, or filtration.
You also need to consider the required insurance, which can be a yearly amount of $35 just to increase your coverage to at least $150,000. Also, depending on the county you live in, your property taxes may also see a jump. You may not think that the costs are a big deal because of the area being warm constantly, but for pools that get used only seasonally, the high amount may eventually be a great value.
Keep Your Buyers in Mind When You Plan to Sell
If your home has a pool and you are planning to sell your home, you should remember to keep your potential buyers in mind. If a lot of your neighbors have a pool, then your pool will likely be a positive influence on what your home’s value will be. You could also decide to have a different audience to target if a pool already exists. This different audience may include retirees or couples searching for a vacation home.
When a pool is part of a home, you also need to remember what the expectations are in your neighborhood, the potential buyers, and the location. Things like these could be what causes buyers to buy or not, especially if families are looking for a pool. No matter what, having a pool can easily make anybody happy if their goal is to be able to cool off during hot summer days no matter where the home is located.
Need more information about pools and property value, or looking for homes for sale in Lockhart? Contact Lone Star Realty, a team of professional Lockhart real estate agents, to learn more!