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The choice to install an inground pool in your home will certainly come with a couple of questions, but the first one you will likely start with is: does an inground pool add value to your home? You might want to enjoy your home as an escape or resource for relaxation, or you might want a place where your children can splash around on summer days. However, if you also want to raise the value of your home for a possible future resale, the additional value can potentially influence everything.
Installing a custom pool of your choice requires truly professional skill and a certain amount of time/money investment, so let’s find out just how much of a financial return it can also provide.
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Predictors of Inground Pool Value
Before we get down to the finer details, let’s take a look at some basic considerations that will rapidly let you guess whether an inground pool installation is likely to be a sound investment or not.
- Your neighborhood: If a number of your neighbors’ homes all have their own inground or other types of swimming pools installed, then you having one as well is almost certain to increase your home’s value. A buyer is in fact usually more likely to avoid the few houses without pools in such a neighborhood.
- Climate considerations: If you live in a warm region of the country where summer weather stretches out for a long time and the days get sizzling hot or humid, then having an inground pool right on your property is also almost certain to raise its value by a certain margin. Ready-made quality pools in places like Florida or Southern California are an easy bonus for prospective buyers.
- Maintenance costs: If you live in an area where the costs of residential water supply and maintenance are generally extremely steep for some reason, having a pool on your property might not be a valuable addition. However, if the opposite is the case, then your pool will likely be an easy sell.
Just how much value a basic inground pool adds to your home will depend on too many factors to nail down precisely, but if you’ve decided to install a standard-sized 15×30 foot pool, it might increase property value by as much as 10% in the right neighborhood.
In other words, if your home is assessed to have a resale value of $500,000, simply adding the pool might increase that value by as much as $50,000. More likely it will be lower, in the range of 5 to 6%. Even at those percentages though, you’re talking about value addition of $25,000 or more.
On the other side of this equation, there is of course the installation cost of your pool, and this too can vary. Overall, however, for a professionally built structure that’s soundly designed to filter and firmly retain water for years to come, you might have to spend as much as $50,000.
This might however vary depending on whether your pool is heated or what materials you use. Pool installation costs can also be reduced by DIY excavation work and other factors, possibly bringing them down to as little as $30,000. Larger pools with lengths of more than 30 feet will obviously cost more to build, but smaller, less decorative pools might cost you as little as $25,000.
Again, all of the above costs are extremely variable depending on geography, local labor costs, pool installation market conditions, zoning laws, and material costs.
We already mentioned maintenance costs above and for good reason; they’re a constant, important factor in calculating whether a pool is worth installing.
First of all, remember that a relaxing inground pool surrounded by landscaped gardens, clean patio space, or verdant nature in your yard has a value that can go way beyond just its economic surplus. It can be a center of family relaxation, fun, get-togethers, and refreshing exercise on hot summer days. These should all be taken into consideration if you’re planning on living in your home for years to come.
With that said though, yes, you will have to spend a certain amount per year on maintaining your pool and it should be added to the overall cost of the project.
Pool Cleaning & Chemicals
On average, this amount will vary between $400 and $1000 annually if you factor in cleaning chemicals, water purification, cleaning the pool, cleaning its surroundings, and replacing things like damaged water pumps. The more you use your pool, the more upkeep it’s going to need.
Many of the above things can be done on a strictly DIY basis that saves you money, but even then, there will be some material costs. If on the other hand, you hire professionals to handle your pool maintenance for you, additional costs of $100 to $300 per appointment are something to expect.
Pool Utility Bill
Finally, there is the electrical cost of your pool. Even if it’s unheated, a pool needs to have a pump running at all times when it’s active, for the sake of circulating its water and filtering it. Expect this to cost you between $200 and $300 per year depending on average utility costs in your area. For heated pools, the electrical cost might go as high as $800 per year.
Finally, all of the above maintenance costs can be washed away if you’re building your pool strictly for the sake of having it ready and in place before selling your home as soon as possible. In that case, your essential cost/value calculations will be those of the price of installing the pool vs. the value addition it can provide for your property. This is likely to give you a slight edge on resale profits vs. costs but consult with your realtor first to be sure.
Does an Inground Pool Add Value to Your Home Non-Financially?
On a final note regarding a pool adding value to your home, it’s good to take a closer look at the non-financial benefits. There are many of them and especially if you have a family or love a social experience.
An inground backyard pool is a nearly perfect focal point for building a fun recreational, social, and family oasis right on your own property. For you and your family, the pool can be a place for summer fun, games, poolside barbeques, and parties. It can also be where your children first learn to swim in a safe environment that’s free of crowds and distractions.
If you have a soft spot for bringing friends over for social gatherings, having a pool and patio space to host them beside during the warm months is also nearly unbeatable for numerous afternoons and evenings of fun and fine outdoor dinner and drink events.
On top of all these benefits, you can simply look forward to your own pool as a place for a uniquely relaxing swimming exercise regimen that won’t cost you hours of travel time to a public pool or monthly gym membership fees.
Finally, the simple landscape aesthetics of an inground pool can be beautifully versatile. Your outdoor pool doesn’t have to be an austere construction. It can be surrounded by stone decks or water plants and be made part of a wider garden project that turns your backyard into a true home oasis from the noise of the outside world.
When asking yourself if an inground pool adds value to your home, it’s a good idea to also keep all of the above non-economic benefits in mind.
Installing Your Pool Professionally
While the maintenance of a pool isn’t too difficult to handle as a DIY job that saves you money year-round, the actual work of installing an inground pool is an entirely different category of project. It requires precise professional skill and a firm knowledge of structural factors. Zoning laws for your area are also going to be a vital legal consideration.
In other words, unless you have an enormous amount of free time on your hands, we’d absolutely recommend calling in the professionals at Bowen Pools for a free pool installation estimate.
They can specifically calculate what your particular design needs will cost and ensure that the pool you build is firmly made to last for decades or more.