How much does adding a pool and spa increase the value of a home?

Answer 1

I am a Realtor, and in general a pool adds about $10,000 to a property here in Arizona. It may add a little less if the pool is old or needs a lot of work. If you are putting a pool in and spend $20,000...you still may only increase your value by $10,000. And as a Realtor in upstate New York, where summers are short, a pool can actually decrease value. In 27 years of business, I've seen almost as many filled in as installed. Unless you're staying in your home for a long time, or willing to "write this off" as a hobby type expense, it's better to visit the YMCA than to spend the money. I live in the Midwest - and a recent appraisal showed a 10K increase in my home's value because of the pool. You will not recoup your entire investment - although that should not impact your decision to install a pool. What could be more fun? In San Bernardino County, CA, the tax assessors office added $17,500 to our tax basis for our pool and spa, which I understand from my pool contractor is a standard amount. I don't know that it actually increased the re-sale value by that amount, but we don't plan on selling anytime soon, and we can usually swim with minimal heating of the pool for 5 to 6 months out of the year. $17,500 may actually be about right with our long swim season. In the Midwest, pools decrease the value of high-end ( 2 million plus) homes. When we bought our house, the listing included an offer to fill in the pool for free. Ten years later, we are selling and the Realtor has advised that we have to include such an offer, as most buyers will not want a pool in a climate with such a short swim season.

In Texas we swim about half the year. In the last 7 years we've bought and sold two homes with pools and three homes without, actively looking for and pricing our third home with and without a pool. In our experience, homes with pools are priced the same as homes without. In other words, it adds nothing to the resale value of your home. It will reduce the value of a home if very little yard is left over, as that eliminates pretty much anyone with kids or dogs.

A certain percentage of people really want a home with a pool, but many, if not most, people really do not want a pool. You will have fewer people looking at your house if it has a pool, but those who are intent on buying a home with one will have fewer to choose from, so it balances out.

My advice would be to put in a pool only if you love your current home and are certain to be in it for a long time. Considering the expense and the mess, you might be better off moving to a house locally that already has one.