If you’re considering making some upgrades to your home, adding a pool might be one of the best investments you can make. Not only does it provide a great space to relax and cool off during hot summer months, but it can also significantly increase your home’s value. Here’s how building a pool can increase your home value.
Attractive Features That Many Homebuyers Desire
One of the main reasons that adding a pool can increase your home’s value is that it’s an attractive feature that many homebuyers desire. Pools are great for hosting pool parties and barbecues, and they offer a fun way to stay cool and active during the summer. In fact, according to a survey by the National Association of Realtors, a pool was the third-most-desired outdoor feature among homebuyers.
Improve Your Home’s Aesthetics
A well-designed pool can greatly improve the aesthetics of your home’s outdoor space. By integrating the pool with your landscaping and adding features like waterfalls, lighting, and seating areas, you can create an inviting and beautiful oasis that enhances your property’s value.
Increase Your Home’s Usable Space
Another reason why building a pool can increase your home’s value is that it effectively increases your home’s usable space. With a pool, you now have a dedicated outdoor area for relaxation, exercise, and entertainment that you can enjoy for many months out of the year. This can be particularly attractive to families with children who want a safe and fun place to play.
Higher Return on Investment Than Other Home Upgrades
While building a pool can be a significant investment, it can also provide a higher return on investment than other home upgrades. According to a study by the National Association of Realtors, a pool can add between 8% and 15% to a home’s value, depending on factors like location, pool size, and pool design. By comparison, other home upgrades like a kitchen renovation or bathroom remodel typically provide a return of between 60% and 80% of the cost.
Attract Affluent Buyers
Finally, building a pool can help attract affluent buyers who are looking for a luxury home. High-end homes often have elaborate pools with features like infinity edges, hot tubs, and swim-up bars, and these features can greatly increase the home’s value. By building a pool, you may be able to attract buyers who are willing to pay a premium for a home with a high-end pool.
Building a pool can be a great way to increase your home’s value. Not only does it provide an attractive and functional outdoor space, but it can also provide a higher return on investment than many other home upgrades. So if you’re looking to make some improvements to your home, consider adding a pool – it could be the best investment you ever make.Questions? Contact Strategic Financial Today!