Texas summers are HOT! For those who live in Texas, swimming pools are not just a luxury but practically a necessity. If you own a swimming pool, it’s a great way to get outside and enjoy the sun while keeping cool. If you have children, a pool can provide hours of summer fun while getting them outside and helping to limit their screen time.
If you are relocating and buying a home in the Dallas-Fort Worth (DFW) area, you may want to consider a swimming pool as one of your “must-haves” on your wish list when searching for your dream home. Even more so, if you plan to sell your home eventually, a swimming pool can be a great return on investment (ROI).
The Costs Of Installing A Swimming Pool
Are you considering installing a swimming pool as an investment? Don’t be caught off guard by the price of installing a swimming pool. You will need to consider all of the related costs involved to get an idea of your budget. You can use a pool pricing estimator to get a rough estimate. People are often surprised that it can cost over $100,000 to get an in-ground pool of their dreams, complete with a jacuzzi spa and decking. But, of course, you don’t have to go all out. There are more affordable options and ways to reduce the costs of installing a pool.
Aside from the construction of your swimming pool, there are other costs to figure in. You will need a pump and filtration system for maintenance, as well as the chemicals to keep it clean. You may choose to buy a heater and a pool cover to keep debris out. Consider adding an enclosure for safety measures. Don’t forget to add fun accessories such as a diving board and water slide. Other accessories to consider are outdoor lighting and outdoor seating to lounge around the poolside.
The Return On Investment Of Swimming Pools
While the idea of having a swimming pool for a greater return on investment is a significant factor, it should not be the only reason you install a pool. Pools have a lot of maintenance and upkeep. If you travel a lot or don’t think you will use the pool very much, it might not be worth it for you to install a pool just for the financial gain when you sell the home. However, you can’t deny the benefits of how a pool can increase the value of your home. If you have a swimming pool, it can add at least $50,000 to $80,000 to the current market value of your home. If your pool is well maintained and has features such as a hot tub and a rock fixture with a waterfall, you can expect a higher sales price on your home.
If you already have a pool, you may need to update it before selling your home. Much like you would update an old kitchen before selling, you may need to replaster or replace missing tiles. A new liner may be required, as well. If you do these updates, you could see approximately a 75% to 85% return on your investment. The added value of renovating your pool could be anywhere between $7,000 and $15,000, added market value. The key is to have your pool in pristine shape. Otherwise, it could have the reverse effect on your home value.
The Bottom Line
When considering installing a pool, it’s a good idea to write a list of pros and cons. If the pros outweigh the cons, then you may have your answer. But take a look at the cons and make sure they are something you can live with. Keep in mind that not all buyers will be looking for a pool. If your home is in a community with many families, chances are you will see other homes with pools and attract buyers who will expect a pool. Not only are pools great for your leisure and entertainment, but they also make your property more aesthetically pleasing. A swimming pool can add a touch of luxury to your backyard and create a peaceful oasis of your dreams.