29 Jul Do Pools Add Value To Your Home?
Here’s a screen shot from Google Earth overlooking a development in the north west side of Houston. Lakes of Rosehill to be precise. As you can see, almost everyone that owns a home in this neighborhood owns a pool. Houston is hot in the summer. Very hot. And it’s not just the heat, it’s the humidity. From my personal experience I can tell you that the average cost of a decent pool in today’s market is around 45k. Their not cheap. Buying a home with a pool almost always makes more sense the having a pool built. You’ll almost never get ALL your money back, but you WILL get a higher appraised value for having a pool. In fact, I’ve never seen a pool lower value for any homeowner in any circumstance. Not ever.
Generally speaking, if you build a pool you can expect to get back about 65% of your money. Every neighborhood is different. Each community will have it’s own supply and demand. You certainly don’t want to buy a $100,000 home and build a $30,000 pool. You will almost certainly get NONE of it back. Not a single penny. The values are too low. Above the ground pools should be removed from the property before listing a home. They are not “pools” in the eyes of a appraiser and they can, and almost always do, LOWER VALUE. They are not pools. In ground plastic pools are also a nightmare for resale value. BUY THE REAL THING if you want to raise your property value.
It’s important to look at area comparable sales PRIOR to building a pool. Don’t take the pool guys word for it that if he builds you a pool that your homes value will increase by the same amount. Ask a local REALTOR® or Appraiser about subdivision values. Zillow and other real estate websites that provide automated valuations are not always accurate. In fact, Zillow gives itself a ONE STAR RATING out of a possible FIVE STAR rating for Houston Texas. This is because Texas is a non-disclosure state. Zillow, Realtor.com do not have access to comparable sales.