Investing in a swimming pool is a big decision. Be sure it’s something that you also find value in.
Adding a pool to your home can be a huge undertaking. It takes time, money, and greatly changes the layout of your home. When you weigh your options, resale value also comes to mind. Will adding a pool to your backyard increase the value of your home when the time comes to put it up for sale? The short answer is: maybe.
Factors that you’ll want to consider include how much you are willing to spend, how long do you expect to stay in your home (and enjoy the pool), and if pools are common in your community. There are several other features that can boost the value of your Florida home, but if a pool will bring value to your family now, there’s also a possibility it can bring value to the future homeowners. It all comes down to evaluating your options.
Cost to build a swimming pool
The factors that affect the cost of building a swimming pool include pool size if the pool is above or in-ground, and the additions you want to add to your pool. In-ground pools are typically the most common, with Gunite being the most popular in-ground pool material. Gunite is a mixture of cement and sand, which has the flexibility to be poured into any shape you choose.
Other in-ground pool options include fiberglass shells and vinyl liners, which are more cost-effective. However, liners typically need to be replaced every 10 years or less, adding on to maintenance costs. If you’re planning on selling your home in less than five years, it might be the most cost-effective option for you.
In general, you can spend anywhere from $30,000 to over $200,000 for a pool, depending on the size, type, and the add-ons you want including. According to Reef Tropical Pool & Landscape, a small pool with waterline tile and no spa will run approximately $40,000. The equipment on its own – pump, filter and heater – can cost around $10,000.
Cost to maintain a swimming pool
Other costs to consider, especially in Southwest Florida where you can use the pool year-round, include the following:
- Utility costs for pump and heater: approximately $100 a month
- DIY maintenance is approximately $40/month while hiring a pool maintenance company can be around $100/month
- Permits and DOH allowance – $1,500 – $2,500
Real estate advice
Ultimately, it is not recommended to add a pool to your home solely for its long-term value. Being such a large investment, you should only consider building a pool if your family will put it to good use. In evaluating potential ROI, it will depend on your neighborhood and the current market conditions. You can get an appraisal done on your home with and without a pool and see the difference in the appraised value; however, the market conditions and value may change if you don’t plan on selling your home in the near future.
If a pool is something you’re really considering, talk to your local real estate agent about how much one may (or may not) be worth when you sell before you make the investment. Based on our experience at Encore Realty, having evaluated homes with and without pools in Southwest Florida for over 30 years, swimming pools may not recover their full investment cost. However, they can certainly speed up the sale of your home, as it is a popular request from homebuyers.
If a pool is not the right investment for you, Dante Disabato can recommend simple home improvements that provide reasonable ROI without investing too much time and money. For more recommendations, contact our team today at 239-537-5351 or by filling out our contact form.