Imagine sitting by a cool pool on a sweltering summer day, as the kids and their friends splash about. It sounds like heaven, right? Before you get too excited and start digging a hole, consider the pros and cons of putting a pool in your backyard.
Surprisingly, a pool can have little to no return on investment. The average backyard pool costs about $22,000 in up-front construction fees, without the bells and whistles, then you factor in the maintenance and additional insurance costs.
Pros for a pool:
People love pools and appreciate the entertainment they provide during the hot summer months.
Despite, the return on investment numbers, pools do add value to your house. Especially to the right seller. If you plan to live in your home for a short period of time, you won’t gain the same value as if you plan to live in your home for a longer term.
Pools provide hours of fun family moments and memories. A pool is something you use together, and kids can play for hours in a pool. The pool gets bonus points for wearing kids out for bed.
A pool can also create a community with parties and gatherings, a pool is a natural place to gather and have fun together.
Cons against a pool:
Consider where you live. A pool in a sunny and warm climate like Florida or Arizona is a better investment than a home where you drain a pool for several months a year.
When you go to sell your home, families with young children might not even consider your home because of the safety concerns of a pool.
Another resale pitfall of a pool investment, is a pool taking up all the yard space. Children and pets need space to run and play, and buyers will still want a yard along with a pool.
Many buyers are wary of the cost of pool maintenance and increased insurance.
Ultimately, each home improvement project you undertake, reflects the value you place on it. You wouldn’t put the time and money into it if you were not invested in it. The same goes with the pool, if you plan to own your home for a while and your family wants a pool, the value and time is worth it for you.
If you are weighing the pros and cons, I’m always happy to lend a listening ear and give my realty perspective on the question of pool or no pool.