How Much Can a New Pool or Upgrading My Current Pool Increase My Home’s Value?
When you think of Arizona, you probably think of the beautiful desert, all of the recreational possibilities, the beautiful weather, and the heat. And even though it’s a “dry heat,” it’s still hot—over 100-degress hot—a good part of the year. What’s one way to beat that blazing heat? Spend time in a pool! Not only is an at-home pool a refreshing way to combat the heat, but it’s also a great way to make fun memories year after year. A pool can be a natural gathering place, an option for working out, a way to decompress after a hard day, and more. And if that pool is heated, it can be a year round source of enjoyment no matter the temps.
If you’re thinking about joining the millions of Arizonans who already have a pool, you’re probably also wondering how adding a pool will affect the value of your home. The basic answer is yes, adding a pool can increase your home value. However, before signing on the dotted line of that new pool contract, here are some expenses to think about:
- UPFRONT COST The average cost of a pool in Arizona in 2022 was anywhere from $17,500-$46,000, and that number can change quickly depending on the size of the pool, the type of the pool (vinyl, fiberglass, concrete), pool amenities (slides, waterfalls, etc.), amount of decking, saltwater vs chlorine, type of surface (plaster, tile, pebbletec, etc.), and so on. In fact, spending upwards of $100,000 on a pool is not unheard of.
- YEARLY MAINTENACE COSTS This includes cleaning, chemicals, and repairs. You can choose to do your own maintenance (cleaning and chemicals) or pay a pool service.
- HIGHER UTILITY COSTS These additional costs come from running the pool pump, cleaning the pool, and heating costs if you opt for a heated pool.
- ADDITIONAL INSURANCE Adding a pool can also mean a higher homeowners insurance premium than for a non-residential pool property.
- SAFETY MEASURES While a pool can be a source of fun in the sun, it can also be a safety hazard. In fact, there are laws in place in Arizona regarding pools and pool safety which outline the requirements for pool fences, safety covers, and doors with pool access, all of which can add to the cost of a pool.
A pool can actually detract from a home’s value in lower-priced neighborhoods since potential buyers don’t want the responsibility and cost of maintaining a pool. If a subdivision has a community pool, some potential buyers might also forgo an at-home pool since they have access to a community pool, often at a much lower cost since all residents share the cost of the pool through HOA fees.
In medium to higher priced neighborhoods, it’s more likely that a pool can increase a home’s value as potential buyers will be more likely to want a ready-to-enjoy pool over building one post-sale.
All in all, adding a pool can increase a home’s value in Arizona by around 50% of the original cost of the pool, although this increase can be lower (from 5%-8%) in other states. And this added value to your home also depends on how well the pool is maintained, the condition of the home, the housing market, if needed upgrades are made, and so on. If you decide to upgrade or remodel your pool, you can potentially realize the same increase to the value of your home.
While an in-ground pool can add to your home’s value, that’s not the sole reason to add a pool. Instead, think of a pool as an investment in enjoyment, improved quality of life, recreation, and memory-making. And let’s be honest: Those investments are priceless!
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