Swimming Pool

By
Real Estate Agent with Coldwell Banker Gundaker
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.
close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Groups:
Realtors®

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
394,961
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 #1
Rainmaker
251,251
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 #2
Rainmaker
568,287
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 #3
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
4,569

Ronald Gorman

Ask me a question
*
*
*
*
Spam prevention

Additional Information