I had an interesting discussion with some other agents about the value of having a pool in a home. The main question is...
Does a pool add or reduce the value of a home???
We came up with the two factors that we think affect this:
1. Price of the house: many high end homes have the best amenities, and that usually includes a pool and maybe an outdoor patio, grill, fireplace and possibly veranda or pool house. A well designed pool adds to the look and therefore adds value.
2. The second factor is the size of the yard: If a pool takes up the majority of the yard, then it can be perceived as a negative. If around the pool there is space for grass and landscaping, then a pool can be a plus.
Do you have any othert factors that influence this.
5 Comments on Pools - add or subtract value
FEB
27
2008
Al, Good post! I find one more that is applicable here in Ohio. Weather! Our truly hot summer days are very few and far between, so warm weather is a big factor for potential buyers. During the dog days of summer of course the pool properties are in the peak period of their being sought after (by a limited pool of buyers, pun intended). During the off seasons months, they seem to be high maintenance items that most buyers shy away from.
Good post. I agree the size of the yard and the quality will add value in luxury homes. It depends on the buyer in some price ranges. Buyers with very young kids may not want pools so the number of prospects looking for a house with a pool may be less.
If you show a house with a pool on a hot summer's day, you might get a higher price.
Al - Very interesting post. Something that as a luxury custom home builder we contemplate quite a bit. Our customers at the +/- $1MM price point seem to fall on both sides of the fence with this one. I've seen some that require specific criteria of a private pool as part of their purchase decision.... Others who may love the home, but won't buy it because of the pool.... Overall I'd say it's a push, with the large yard you mention a must.
I think it really matters what part of the country you are in also, here a pool will most certainly lower the value of the property unless it is an indoor pool.
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