How An In-Ground Pool Increases The Value Of Your Home
Many people want a house with a swimming pool. This is not surprising considering that a pool offers many benefits. Aside from being a relaxing place for people to cool off or unwind after a stressful day, a pool can increase the value of any home. No wonder this luxury item is on top of the wish lists of many home buyers.
With the right improvements, experts say that an in ground swimming pool can be worth thousands of dollars. This was revealed by G. Stacy Sirmans, Ph.D, a real estate professor at Florida State University in Tallahassee. After studying over 28,000 homes, he and his colleague David A. Macpherson, Ph.D. found that the presence of a pool affects the value of a home in a positive and significant" way.
The National Association of Realtors said this is true in several places across the country where pools were found to increase the value of a residential property from eight percent to over 15 percent. Variations by regions are as follows: in the Southeast, the increase in value ranges from 5 to 10 percent; in the Southwest, its from eight to 13 percent; while in the northern areas the average increase is six percent.
In what ways does an in ground pool make a home expensive? Sellers attribute this increase in value to the pools aesthetic charm and recreational appeal - qualities that are important to prospective buyers. However, remember that a pools added value greatly depends on its condition and location.
In real estate, places that are sought after have good schools, malls and other neighborhood amenities. Before adding a pool to your property, take a long hard look at your neighborhood. If it has a community pool as one of its amenities, a private pool wont necessarily increase the value of your home in a significant way.