Value is defined as the importance, worth or usefulness of something; to estimate the monetary worth of something. When the subject is a home, and what adds value to it, then breaking it down into its most common denominator is necessary.
A family looking for a home in Southampton decides that it has enough space, that there is room to expand perhaps, and that the home would be handy for entertaining guests. Adding a pool to the mix greatly improves the form and functionality of your home. Below, we’ll explain why there are few home renovations or additions that add more value than a swimming pool.
Pay Attention to your Area
Both HGTV and Better Homes and Gardens agree that homeowners make an error in adding a pool when the area or region is not supportive of pools. Homeowners living in hot humid climates and with pools all around them will benefit from the addition of a pool – but would you install a swimming pool in Alaska? In warmer climates not only will a pool be cool and fun on a hot summer day, but it will be worth something to the next buyer.
Those living in areas not so warm and muggy would only benefit from the addition of a pool if the neighbours had one – a phenomenon known as the social proof effect.
Outdoor Renovations are a Hot Trend
The outdoors has made a comeback whose scope is unbelievable. The popularity of outdoor rooms, cascading decks, patios with pergolas and landscaped walks bears this out. Homeowners are adding trendy outdoor rooms in addition to lush landscape, hardscape and water innovations for many reasons.
Enjoying nature reduces stress.
Families are spending more time together.
Networking is more fun over a burger than over a phone.
Many outdoor rooms are sustainable.
Few will argue that these points are important. A high-quality pool can serve as the focal point for a yard or greenscape. Many homeowners build pools to highlight the architecture, for example, with stones and waterfalls to complement the landscape. The object is to make the whole package useful and worthy to the next buyer.
A Pool May Lead to an Increase in Value
Factors vary in calculating the pool’s effect on your property values. The size, a diving pool vs. a play pool, the configuration, (i.e. square, oval, kidney-shaped, etc.) and the extent of the landscaping and decking are such factors. Appraisers reflect that a pool could add between 10 and 30 percent to the home’s resale value.
Folks love a pool for swimming any time they wish, in the privacy of their home. For some, that alone is the only impetus they need to add a pool. Other buyers appreciate a pool because of the enjoyment it brings their children. Thus, value and applicability are much the same.
The Saugeen Team can help you determine how much value a new pool will add to your home and if it is worth adding one or avoiding it altogether. Contact Us today!