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Swimming Pool

By Ronald Gorman

Real Estate Agent with Coldwell Banker Gundaker

April 11, 2008 01:38 PM

My client and I have been discussing the value added of an inground swimming pool. We are currently looking at ahome that has a very nice swimming pool It's dollar/sq.foot price is considerably above average for active listings and for those sold in the last 6 mo.within a 1/4 mile radius of this property. None of the other listings have swimming pools. My client feels that the pool does not add to the value of the home. I would appreciate your comments.

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Elizabeth Cooper-Golden

Huntsville Alabama Real Estate, (@ Homes Realty Group) - Huntsville, AL

Huntsville AL MLS

Ronald, Great question! I think you will get several opinions, but here is mine. First, call an appraiser and ask their opinion. I'm sure they will be happy to share what value they would give a pool. An appraiser once told me that it really depends on the neighborhood, etc. I've had closings where they gave the pool little value and others that they gave quite a bit of value also. I'm sure in the sunshine states it would be different. Good luck with this! Elizabeth www.Huntsville-Realestate.com

Apr 11, 2008 01:53 PM

Joel Weihe

Realty World Alliance - Wichita, KS

Helping you to use your VA home loan benefits

Speaking strictly from an appraisal standpoint (in kansas mass appraisal for tax valuation), a pool added actual value, but only a fraction of what it costs to put in. From a real estate mindset, a pool adds value to the home if a buyer wants a pool. if a buyer doesn't want a pool, then there's no value in it.

If it's considerably above average price.... I'd possibly point out that your buyer could put in a brand new pool for that sort of price difference.

Apr 11, 2008 01:53 PM

Pam Joffe

Solaris Realty - Tampa, FL

Ronald - In Florida, we add value for pools, I generally add about $10,000 for a simple pool and up to $20,000 for an elaborate pool on my CMAs.

Apr 11, 2008 01:59 PM