Experts say that the target market for homes with pools consists of buyers who skew toward middle age with teenage children. They also say pools increase a property’s desirability if the home is in an area that has a large number of pools. In other words a pool adds less value or may even decrease the value of a home if it alienates or discourages interested home buyers and is not in the norm. This happens when the actual house with a pool does not align with the expectations or preferences of this target market.
In all cases, you should think of a pool as an investment in your lifestyle. Don’t expect it to increase the value of your home .. instead have low expectations and you could be pleasantly surprised.
Pool Myths
There is a longstanding belief held by many that pools don’t add value to one’s property when you are selling your home. That may be have been the case in some instances before COVID but it is not so clear-cut in the post-COVID real estate market. There are plenty of examples of pools adding value to a property according to the National Association of Realtors® (NAR). NAR recent statistics show that pools add approximately 7 percent to the property with an inground pool in our Boston MetroWest climate and more than 11 percent to homes in a warm climate where you can use the pool year-round.
Here are the big factors to consider right up-front when buying a house with a pool or when deciding to have a pool installed.
Location and Neighborhood: Pools may be more valuable in high-end neighborhoods where they are common. If you live in a neighborhood where pools are the norm and the style of the pool also fits the neighborhood you will see more return on your investment.
Pool condition and proportions: The condition and size of the pool can affect its value. Pools on the west side of the house get the best sun for times of day when you’re most likely to use the pool. Also avoid big pines and evergreens or you’ll be vacuuming needles for the rest of your life there. And last the pool shouldn’t take up the entire yard … you still should have space for a play area or a garden outside the required fenced area.
Buyer characteristics: Some buyers, like families with young children may be concerned about safety and may not want a pool. Others, like adults without kids and retired couples, may be drawn to the opportunities a pool offers. So think about where your house fits in the size department, if it’s a small starter house you might not hit the likely buyer demographic and your return on investment may be dismal.
Time frame: Realistically consider how long you plan to live in the home, how often you’ll use the pool and whether you’re willing to commit to the long-term maintenance.
To sum it up, anecdotal evidence (there really is no quality data no matter what you’re told) suggests that quality in-ground pools are recently returning approximately 50 percentof their initial investment in Sudbury.
If you like this you’ll like Mike Hunter, the House Hunter as your Realtor even better. He knows the Sudbury market and has represented many happy Sudbury households to buy or sell for years. Please feel free to forward his profile to others you feel would benefit from his services.
Call Mike 978-580-1069 today.
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Mike Hunter … expert Metrowest Boston real estate advice and simple results-driven transactions
