I have heard that you sometimes do not get back what you put in.We live in Florida and I want to borrow from our equity.If I put a $40,000 pool in would it increase my value by $40,000?
2007-01-24 01:50:19 · 10 answers · asked by stephanie s 1 in Home & Garden ➔ Other - Home & Garden
I was once told by a realtor that adding an underground pool actually hurt the value of your home because not only does it require funds (pool cleaners and such) and maintenance, but it also is dangerous if you have young children who cannot swim. If it is outdoors, you also stand the risk of a neighbor or someone else drowning in your pool.
BUT, a pool is a plus to the buyer when you are selling your home someday. I would say that there are a good percentage of people who would like having one, especially in a warmer state like Florida.
I would consult with a realtor or if you have someone that handles your finances. They may be able to give you more help.
I did attach a couple of articles I found...
GOOD LUCK!
2007-01-24 02:05:14 · answer #1 · answered by kelikristina 4 · 0⤊ 0⤋
I don't know whether it would increase the value of the home by the amount you actually paid for it.
However, maybe look at it this way.....
To those who want it, the pool will be viewed as value added.
However, on the flip side, the high cost and time it takes to maintain a pool may be a huge deterrent for a potential buyer.
A Realtor may be the person to ask.
2007-01-24 01:56:14 · answer #2 · answered by ME 4 · 0⤊ 0⤋
I were a residential appraiser for over 8 years and this question is one which i'm getting requested quite typically. regrettably, there is no "definite or no" answer. the answer lies interior the important marketplace value of your community. How a lot are the properties on your community promoting for? look on the properties equivalent to yours. How a lot do those with swimming pools promote for? How a lot do those without swimming pools promote for? the version is nearly the price of a swimming pool on your community. the price of installation a swimming pool has no longer something to do with the marketplace value. in case you stay in a community the position the conventional promoting value is $300K, and also you spend $100K installation a blinding gunite pool, the price of your position did not basically bounce to $400K. From an appraisal aspect of view a pool is considered this way: once you're the in uncomplicated words homestead interior the community and not using a pool, then you definately get a deduction on your value, because all people has one and also you do not. once you're the in uncomplicated words individual interior the community with a pool, you get no value for it because there are not any similar sales with swimming pools and therefore there is no longer something to apply to envision the marketplace value of the pool. To get value on your pool, there might want to be a minimum of one different similar sale with a pool. An above floor pool is taken into consideration own sources and NO value by any potential is given for those swimming pools, no count number how fancy the deck is. In end, you receives some value on your pool. you'll maximum likely get decrease than the price of installation. do no longer upload a pool basically to strengthen the price of your position. keep in ideas, once you pass to promote your position you'll lose area of your ability marketplace because there'll always be those those who do no longer want a pool, no count number how a lot they prefer your position. in case you propose on staying at your residence countless years, and also you desire a pool, then by potential of all potential put in a pool and luxuriate in your self. do not hassle about the marketplace value. Appreciation will protect itself and interior the destiny you'll probaly finally end up with a contented medium in accordance such as your pride interior the pool and the destiny marketplace value of your position.
2016-10-17 03:06:16 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I see a pool as a money pit. In the current housing market where I live in so. Cal it adds no value. People are already stretching to buy a house, they don't want to pay for a pool.
My wife and I have an infant so that means we would have to fence in the pool or always be in the backyard when she is outside. My idea of a backyard is a safe environment where children can play with limited supervision. Can't do that with a pool. It hasn't kept us from bidding on homes with pools, I can just jackhammer it out.
If you want to increase Home value upgrade kitchen, bathrooms or change the layout so it's open concept. Those everyday things are much more important in today's market.
2014-03-06 04:55:02 · answer #4 · answered by Tomsriv 5 · 0⤊ 0⤋
Not sure about Florida, being thats its hot there. But i know in PA, it normally lowers its value, alot of people do not want to buy a house with a pool, cause they do not want to take care of it. But i would think in Florida It may be different, cause i would think alot of people have pools, as far as going up $40,000, i doubt it. Its like adding an addition to your house, you may put say $50,000 into it, but someone may not pay that extra 50,000 if they don't think its worth it.
2007-01-24 01:58:54 · answer #5 · answered by Anonymous · 1⤊ 0⤋
A pool is only attractive to a buyer if they want a pool.
If YOU want a pool, put one in and enjoy. One should never put in a pool for resale. Traditionally, 10% of home purchasers want a pool... the rest do not. Even if your house is to die for,the 90% will offer less because they will need to fill in the pool... very expensive.
2007-01-24 02:00:54 · answer #6 · answered by 6kidsANDalwaysFIXINGsomething 4 · 1⤊ 0⤋
I live in sunny and hot high desert area of southeastern New Mexico.. We put in a pool 8 years ago and have never regretted it.. My best friend is a real estate agent and she says the demand for homes with pools in our area in growing!
Our property value has gone up and I attribute most of that to the pool and pool area that we added to our home..
Overall it depends on how long you plan on staying in your home.. Just to put in a pool and try to re-market the home the following year and re-coup your investment, may not pay off in all neighborhoods.
In our immediate neighborhood, 10 homes have put in pools.. so they are definitely in demand here...
2007-01-25 04:54:34 · answer #7 · answered by hotrodder39 3 · 0⤊ 1⤋
I put $17K in a pond but my Realtor said that it added no value to my home in our market in Ohio. If I were buying a home that pool would be a big selling point for me.
2007-01-24 02:02:15 · answer #8 · answered by eugene 1 · 0⤊ 0⤋
It wouldn't help your home's value if you lived in Alaska,unless you wanted an ice skating rink in your backyard. In Florida yes, its warm all year round and it does help a bit. It wouldn't increase the full 40,00 dollars, it will increase the value more than what it was
2007-01-24 02:00:05 · answer #9 · answered by Patches 4 · 0⤊ 0⤋
No, not really, it only increases your homeowners insurance for the most part.
2007-01-24 05:39:36 · answer #10 · answered by Ms. "D" 3 · 1⤊ 0⤋