I’d like you to picture a classic movie scene from the past. It’s Clark Griswold, in Christmas Vacation, looking out his window while envisioning the beautiful swimming pool that he dreams of putting in his backyard. He’s picturing the fun times ahead and wonderful memories to be made, in his family’s dream backyard.
If you are considering adding a swimming pool to your home, you should take the time to evaluate a few key questions. Cost is at the top of the list. This includes both the cost of installation, as well as the cost of ongoing maintenance and utilities (water & energy, equipment, pool service, etc.) and possibly insurance. If it’s an affordable upgrade for you, it’s important to consider how long you plan to be in your home. In our local market, home sellers rarely get a full return on the cost of the pool that they put in. Why? I see it as a “rule of thirds.” In my experience working with home buyers, roughly one third of buyers would love to have a pool. Another third absolutely do not want a pool. The remaining third tend to be somewhat indifferent, but generally do not want to pay extra for a pool or maintenance. The result is that a backyard pool can limit the number of buyers who are interested in making an offer, or the existence of the pool may limit the price that they are willing to pay.
Wait!! Does this mean that my pool does not add any value to my home? Not necessarily. If you have a beautiful pool that is a gorgeous focal point in your yard and it is well situated and in great condition, it most certainly will add value, and it may be the deciding factor for a buyer who wants a pool. It just might not add as much value as it cost to put it in. Some pools are a definite negative, when it comes to your home value. A large swimming pool in a small yard can leave potential home buyers uninterested, simply because it doesn’t leave them the yard space that they desire for other purposes, such as safe play areas for children and pets, gardening or entertaining.
Are you wondering what to do with your old pool that now needs more than TLC? My suggestion would be to consider how long you plan to stay in your home and also evaluate how much you plan to use the pool in the future. If you plan to stay a long time and you know that you won’t be using the pool, it makes financial sense to remove it. You may be surprised by how affordable a proper pool removal/destruction is (compared to the cost of resurfacing, repairs and ongoing maintenance). Removal should always be done with a permit, by a qualified contractor. If you’re not planning to stay in your home much longer, it may be better to keep your old pool, so that the next homeowner can decide whether to remove it or improve it. For someone who wants a pool, there is definite value in the old, existing pool. Also, adding a pool to a yard that has had had one “removed” can be challenging, especially if it is not a large yard.
Your decision shouldn’t be strictly financial. Backyard swimming pools offer healthy recreation and family fun. They also come with extra responsibility for safety. Depending on your own personal experiences and lifestyle, one of these two factors will likely impact your decision.
Every home sale is unique. If decisions about a pool are leaving you feeling overwhelmed, please feel free to reach out to me at 925-964-5010 or via email at Lisa.Hopkins@Compass.com for a custom analysis of your options. Even if you’re not ready to make a move today, it’s never too early to start planning for success. DRE#01111126.
