If you think that installing a pool in your backyard will do wonders for your home’s resale value, think again.
Want to sell your home? Get a FREE home value report Want to buy a home? Search all homes for sale
Summer is well underway, and it’s during these sunny, sultry days that our desire to take a dip in the refreshing waters of our very own private swimming pool is heightened.
Installing a swimming pool in your backyard might be money well spent in light of the entertainment value it offers for you and your family, but will it increase your home’s value? Homeowners regularly ask this question, and the answer is yes. In Texas, adding a pool will indeed raise your home’s value by 7% to 10%.
However, the bigger question is whether you will see a return on that investment when it comes time to sell your home. Unfortunately, no. When all is said and done, you won’t actually recoup the costs associated with the pool’s construction.
Suppose that your home is worth $350,000 as is, and then you decide to build a pool. This will increase your sale price by about $35,000, but your total expenses from this undertaking will add up to about $60,000. Aside from these initial expenses, you’ll also have to think about general maintenance, utility, and insurance premium costs.
The bottom line is that while a pool will be a good lifestyle investment that you and your family can enjoy for years to come, you’ll be sorely disappointed if you expect such an addition to put more money in your pocket once you sell.
If you have any further questions about making home improvements or about what will and won’t elevate your home’s resale value, please don’t hesitate to give me a call at 972-984-0511 or email me at Anastasia@Ebby.com. I hope to hear from you soon!
Featured Listings
Available near you:
