Do Swimming Pools have a Good ROI?

If you’re looking for a home to purchase in sunny Sarasota, there’s one thing you might be wondering about: a swimming pool. Here along the Gulf of Mexico, pools are quite common amenities, and there are a lot of residential properties with these relaxing and cooling feature. In townhome and condo communities, and the new master planned communities about Sarasota and Manatee County, swimming pools are typically one of the best amenities.

Though pools are ubiquitous in the area, there are still plenty of homes which don’t have one. So, if you buying, you might be wondering about the value and if putting in a pool is a good financial choice. This really depends on your own situation and how long you’ll be in the home. Because of location and climate, pools make a wonderful addition to escape the summer’s heat. In addition, these amenities are great for entertaining and for children, as well as pets.

Homes with pools do usually sell for more than houses without them, the reason being, buyers are generally more likely to put a home with a swimming pool at the top of their list. However, if they have children or are in their retirement years, a pool probably won’t be a key feature. That being said, since the weather gives us a lot of sun and warmth for many months, a pool will get much use, which is a great amenity to have on a residential property.

UPGRADES AND IMPROVEMENTS WITH THE BEST AND WORST ROI

If you’re looking for a good return on investment, you’re going to find, if you do just a little bit of research, that a pool isn’t the biggest improvement for a nice return. The top improvements are a new steel front door, which earns an ROI of more than 102 percent, a new garage door nets just about 84 percent, a wood deck brings back nearly 73 percent, a minor kitchen remodel also yields nearly 73 percent, and upgrading windows has an ROI of up to 72.6 percent.

“…a pool can add value to your home in some cases: If you live in a higher-end neighborhood and most of your neighbors have pools. In fact, not having a pool might make your home harder to sell or, if you live in a warm climate, such as Florida or Hawaii. Also, if your lot is big enough to accommodate a pool and still have some yard left over for play or gardening. Your home’s value might increase 7% if all circumstances are right when it comes time to sell.” —HouseLogic.com

Surprisingly, some projects don’t bring much of a return and are counterintuitive to what you would believe. Take for instance, a total home renovation. That large scale project may not increase the value of a home, only bring it up to par with like properties. Adding a home office will only net about 49 percent, while a master bedroom remodel, does fare better, fetching about 67 percent. A bathroom remodel doesn’t bring much, but does not cost a lot. Among the lowest of return on investment, as the nearby quote states, is adding a swimming pool, which increases a home’s value by approximately 7 percent. That figure alone, however, doesn’t mean it’s not a great amenity to install.

SWIMMING POOL RETURN ON INVESTMENT

The real value in a pool can be calculated by doing a little research and arithmetic, and, of course, including the location. Sarasota is one of the best places in the country for a swimming pool because of the weather. Here are some more points to consider:

  • The installation costs. The cost of putting in a normal sized, 600 square foot concrete pool starts at $30,000. In addition to this cost, are other expenses, which include a safety fence, if you have small children, landscaping, and lighting.
  • Monthly maintenance expenses. The monthly expenses associated with maintaining a pool runs between $60 and $100, if you do the work yourself. Should you hire a pool service, that cost will be higher.
  • Insurance premiums and risk. For only a few more dollars a month, you can increase your homeowner’s liability insurance, just to be safe. Before you add a pool to your property, it’s a good idea to speak with your insurer to learn about coverage amounts and what is and isn’t covered.
  • The neighborhood in which the home is located. If most of the homes in your neighborhood have pools, then it’s more likely your home’s value will increase. It will also bring more marketing power to your property when it comes time to sell.

Another thing to consider is the size of the pool, not only for the cost of construction and installation, but for the yard. If the pool takes-up most of the yard, that’s going to be a negative in the minds of potential buyers.