When it comes to increasing your home value, building a swimming pool might seem an excellent option. Depending on your home’s location, the size of the pool, and if you are certainly willing to invest the time and effort it takes to keep it in good shape, building a pool is something to consider. However, how much does a pool cost? And considering the pool cost, is building a pool a good idea?
Before starting a pool project, it is important to consider the cost of swimming pool maintenance and installation, as well as its actual value. Figuring out what you need to know before building a pool can seem like a daunting task but hopefully this article can help you out.
If you are currently wondering “Is building a pool a good idea?”, continue reading to find out about the facts that will help you know the answer.
Is a Pool Worth It?
Although having a swimming pool at home always sounds like a fantastic and fun idea, it is important to think about different aspects that will help you realize the actual cost to put in a pool and decide if it is financially worth it. Figuring out how to afford building a pool can sometimes be a factor for whether or not you can build a pool.
Basically, a swimming pool is excellent for a home located in an area with short winters and warm climate, as these conditions will allow you to use it frequently. Moreover, in terms of selling your home in the future, is building a pool a good idea? Well, a pool would make sense in a sophisticated neighborhood where other homes also have one. Therefore, your home would remain in the competition when potential buyers start comparing their options.
But, how much does a pool cost? According to research, the average cost of building a swimming pool is around $27,588 considering both above- and in-ground pools. However, depending on different factors, the cost is ranging between $14,112 and $41,424.
When it comes to maintenance, heating and filtration might cost you as much as $8,000. Adding features like a diving board and a pool cover might add up to $7,000. If you are interested in reducing the costs, consider choosing a small pool made of vinyl or tile instead of concrete. When it comes to the swimming pool design, choose an above-ground design instead of an in-ground design to save some money. Getting a free consultation can help you to build the swimming pool that meets your needs and expectations.
According to research, building a swimming pool might only add to your home’s value by 7%, as it depends on factors such as your home’s location, climate, and if there is still room left for other activities in the backyard. Furthermore, some factors that determine if you will get a return on investment is the type of pool, its age, and its condition.
Pros and Cons: Is Building a Pool a Good Idea?
Putting the cost to put in a pool aside, having a pool at home provides you with an excellent space to enjoy gathering with your family, friends, and guests. Furthermore, you will not need to pay for any membership or go to the community pool to swim in the summer. Also, you will have privacy and might be able to save money on air conditioning, as your pool will allow you to stay cool during hot summer days.
Besides installation and maintenance costs, there are other disadvantages to consider. Climate is one of the main aspects that will determine whether having a pool is a good idea and when you can use it. It is also important to consider that kids are usually the ones who enjoy pools the most, and there is always the risk of accidents or injuries. Moreover, if you ever sell your house, it is possible that it takes you longer to sell than those homes without a pool.
To avoid ending up with a negative return on investment, think carefully before hiring a swimming pool contractor to realize if the return outweighs the costs. The possibilities of your swimming pool adding value to your home increase if you live in a tropical area where other homes also have pools.
Take your time to think about all these aspects. Keep in mind that building a pool is an investment that requires plenty of money and effort, and it is only worth it if you are planning to use it frequently in order to get the best out of it.