What’s the value in installing an at-home swimming pool?
Many if not all community pools have closed this year due to COVID-19 health regulations. Where does that leave you and the kids for the hot summer days? At the same time, mortgage rates are at historic lows and refinances are increasingly popular. You may be considering it is time to save money on a refinance and install that pool in your backyard you’ve been thinking about. On average an inground pool costs around $30,000 to install, so you have to consider, “Am I going to get a return on this investment?”
Will adding a pool increase the value of your home when you decide to sell it? That’s a great question, and the best answer is maybe—if you’re lucky.
Under the right circumstances, however, a pool could increase your home value. Experts state an inground concrete pool potentially adds 5 to 8 percent to the real estate value of your home, under the right conditions.
Here are the conditions:
1. You live in a higher-end neighborhood where most of your neighbors have pools.
2. You live in a warmer climate like Florida, Arizona or Hawaii where you can enjoy a pool year-round.
3. The pool doesn’t take up your entire yard—there’s still room for a swing set and a garden.
4. The style of the pool fits with your home and neighborhood, and it’s well maintained.
5. You can attract a buyer who wants a pool in their new home.
While adding a pool might not pay off financially, that doesn't mean it wouldn't increase your quality of life. But if you want relief from the hot summer heat without tearing up your backyard and spending a huge chunk of change, check out these stock tank pools that are trending right now!
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