Homeowners are always looking for ways to increase their quality of life and property value through home improvement projects. A new driveway, a new roof, new kitchen renovations— these are just a few examples of how homeowners help to make their property more comfortable as well as more valuable.
One of the most desired home improvement elements is the addition of a swimming pool; a swimming pool can be an excellent investment when it’s the right size and design, in a proper location, and you have the time and money to maintain it over the years.
Adding a swimming pool sounds like an immediate “yes” decision, but before pulling the trigger on this costly home renovation, you’ll want to compare the benefits, functionality and value of the pool against the initial investment costs and maintenance costs. It’s pretty clear that adding a pool isn’t the cheapest home renovation project, and while it offers a plethora of enjoyment and recreation, thinking logically about the project is important to determine if building a pool is actually a good investment for your home.
5 Reasons Why a Pool is a Great Addition to Your Property
People love swimming pools, that’s a fact. Having one right on your own property is a luxury that many people dream of and there is good reason for that. Swimming pools represent a small piece of luxury and recreation— who wouldn’t want to lounge around outside by a swimming pool relaxing after a long week’s work?
There are many benefits to adding a pool to your property, so before we take a look at the financial nitty-gritty of the addition, we’ll think about the principal reasons and benefits that people see in adding a pool to their home.
1. Your Family Has On-Property Recreation
Long gone are the days of you and your family trekking to the community swimming pool; when you have a swimming pool at your home, you can have a personal, clean, and comfortable place to go swimming whenever you feel like it. This is a big draw for many people, especially for families.
You won’t have to waste time or money going to another location or paying for membership fees to use outside pools as you’ll have your own, which can help justify some of the cost depending on how much you use pools at other locations.
2. You Can Host Friends and Family
A swimming pool creates a naturally social atmosphere, so you’ll be able to host barbeques, pool parties, birthdays, and any other events that you want to have people over to go swimming. You’ll probably be one of the most popular people on the block with people wanting to come over and visit and use your pool every now and then.
3. You Stay Cool During Hot Months
Depending on where you live, you may have to deal with smoldering summers that can crank up your AC costs; when you have a swimming pool, you’ll have another way to stay cool during those heat waves and enjoy yourself while doing it.
4. Your Property Looks More Beautiful
Your backyard landscape will be completely changed by the addition of a pool. Pools add unique and refreshing beauty to any property, and through the use of lights and water features, you can create a unique and relaxing ambiance that you can enjoy whenever you like.
5. Property Value Increases
Perhaps the most attractive benefit for money-conscious folks, adding a pool to your home can significantly increase the value of your property. We’ll discuss this more in more detail in the next section, but considering the hefty investment required for adding a pool to your property, knowing you’ll be able to get at least some return on investment (ROI) is a reassuring notion.
So, if pools increase property value, how much can you expect to see it go up? Let’s examine resale values.
Property Resale Value after a Pool Addition
Adding a pool to your property not only increases the richness of your life and social circle— it also increases your home’s value; while most people imagine that a pool addition increases a home’s value astronomically, it may not be as much as you'd imagine. According to Bankrate, a pool addition will only increase your home’s value of up to 7%, and that’s when all of the conditions are just right. Of course, there are many factors that influence this percentage, including the location of your home and the neighborhood you live in, as well as how much of the backyard space the pool occupies. If a pool is all you have in the backyard without much space to move around, it can often deter buyers as opposed to enticing them.
Another analysis by RedFin asserts that it can increase the value of your home by roughly $95,000, although this was specific to Los Angeles County. This number dropped to roughly $50,000 in nearby Orange County, CA and Austin, TX. Homes in Houston, TX sold for an average of $36,000 more with a pool according to the same RedFin analysis.
In essence, how much of a ROI you’ll get on your pool depends on where you live, the design of the pool, the condition it's in at the time of sale, as well as when it was built.
While most people looking to purchase a property love the idea of a pool, it’s not always a vital necessity, and some people may consider it to cause safety concerns if they have young children or small pets.
Swimming Pool Installation Costs
So, now we know why people love pools and what type of ROI you may see on one, but how much does it cost to add one to your property? This is a vital consideration that all homeowners must reflect greatly upon before making a final decision on whether or not a pool is a good investment.
First, you must consider the two types of pools: above ground pools and inground pools. All of the resale data in the previous section pertains to inground pools; above ground pools won’t do anything for your investment and can only offer you a bit of fun when you want it.
Inground pools are the true money item, and the price of an inground pool installation according to HomeGuide can range from $28,000 to $55,000, with the average price landing at about $22,191.
As you can see, that’s quite a sizable investment, but if RedFin’s analysis is correct, you’ll see more than 7% return on your investment if all of the conditions are right.
Other factors that contribute to the cost of your pool include:
The Woodlands pool company has a variety of different options to choose from, so working with your budget won’t be an issue; there are plenty of solutions we can offer you for finding a pool that can work with your available investment.
The second set of costs that you need to consider when adding a pool is the maintenance and running costs of the pool. These costs can vary depending on your location and average costs of your utilities, but on average, HomeAdvisor estimates that a pool’s maintenance and running costs can range between $3,000-$5,000 a year. These figures can also vary depending on whether or not you heat your pool and how you choose to filter it.
Other costs involved with maintenance include:
If the idea of adding a swimming pool still sounds feasible to you, great. If you like the idea but want to save money where possible, you could consider a smaller pool or more durable and long-lasting building materials.
Final Thoughts: Is Building a Swimming Pool a Good Investment?
A swimming pool is always an attractive idea, but there are many factors you should weigh before you decide to go forward with your swimming pool construction project.
Do you see valuable benefits that justify the initial and long-term costs? Pools can add value to your property depending on where you live and how well you maintain them; considering these factors in advance can help you avoid turning up empty handed or with a negative return on investment.
Pool Builders in The Woodlands, TX
Are you looking for some more advice or consultation in regard to your pool addition project? The Woodlands Pool Company has a plethora of knowledge on the area and what type of ROI you’ll expect to see if you go forward with a swimming pool addition.
If you have any questions or would like to discuss your swimming pool construction options, our pool builders The Woodlands can give you extensive information and a realistic consultation in regard to your specific property.
We love helping homeowners in The Woodlands make their pool projects a reality, so contact us today and we’ll be happy to work with you to find viable options for your pool investment that make sense for you.