Home Buying in Natomas Creek>Question Details

M.christo, Other/Just Looking in Sacramento, CA

What's a pool worth?

Asked by M.christo, Sacramento, CA Tue Jun 3, 2008

For the purposes of making appropriate comparisons between comps, how much does an in-ground pool add to the value of a home in the 95835 zip code? Does it matter if it includes a spa, or how old the pool is?

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Gotcha...well hopefully your agent can assist you to add some clarity regarding the specific home you decide to make an offer on! There are lots of variables - definitely do not add the cost to install a pool. Generally speaking - $10k-ish more?

What exact price range are you in? If the home requires a non-conforming loan (loan over $417k), you might get more aggressive with your offer...many buyers can't swing a jumbo loan. Math tells me your price range will fall just below the conforming loan limit.

Not sure what type of financing you have, but if you are going to leverage FHA or VA financing - make sure the pool is not green and the equipment is functioning properly. FHA and VA financing have restrictions regarding condition. Bank owned may be a rough transaction for you...
Web Reference: http://www.erinattardi.com
2 votes Thank Flag Link Tue Jun 3, 2008
Erin Stumpf, Real Estate Pro in Sacramento, CA
MVP'08
Contact
A pool is worth whatever a buyer is willing to pay for it. A pool is of no value to a buyer who does not want a pool but can be very valuable to a buyer looking for strictly pool homes. To assign a dollar amount to a pool would also depend upon the design, age, functionality, location, etc. Yes, a spa can be a great additional to the pool and add more value to the property.

It can cost upwards of $100,000 to $150,000 to install a pool and spa depending on the design, etc. It is unlikely that you will get a dollar for dollar return on the cost of your pool. A buyer looking for a pool home in your neighborhood will be willing to pay an additional $25,000 to $40,000 (maybe) to alleviate the headache of having to install one themselves. But there are so many factors that come into play I cannot give you a definitive answer and please don't bank on my "blind" estimate quoted above either. An experienced Realtor in your area will be able to assess the value more accurately for you. Good luck !
3 votes Thank Flag Link Wed Jun 4, 2008
I just had a home appraised in Placerville with an above ground pool/deck. Just last week.
$500K ballpark homes on 5 acre lots.
with nice above ground pool/deck appraiser added $10K verus similar homes with no pool at all.
for comps with nice built in pools appraiser added $15K over the above ground pool ($25K over no pool)

no pool = $0
above ground (with nice albeit worn trex decking) = $10K
nice built in = $25K

supposedly the differentials are data based on how the market overall responds to these amenities. I don't know how local the factors are though I AM NOT A PRO JUST A REGULAR GUY so this may not translate to your zip.

hope this is helpful I don't know for sure if it would apply to your case. If I were offering on a house with a pool I'd try to play it off like it ain't no thing but a liability to be filled with dirt soon and made into a putting green so they don't try to charge you the $10K/$25K extra for it... but anyway that is how my appraiser rated pools in the foothills.
3 votes Thank Flag Link Tue Jun 3, 2008
Hi M. Christo,
Very good question. The type of pool makes a difference along with the amenities it has, such as waterfalls, slides, salt instead of chlorine usage etc. Age, how well it has been kept up, whether the spa is attached, if the pool is heated, if it has solar heating...the list goes on and on. Each of those things make a difference as to the amount it adds to the house value and the appraiser will also be looking at those same qualities.

Your Realtor, should know how to guide you on this issue and give you pointers on how your offer vs the pool should be represented. However, it all boils down to what you feel comfortable offering and if the Seller agrees.

Good luck and I wish you warm weather while splashing in your new pool, soon in Natomas.

Gena Riede, Broker Assoc.
Remax Gold
916.417.2699
2 votes Thank Flag Link Tue Jun 3, 2008
Thanks, Erin! Let me clarify: we've decided we want a pool. (In fact, that's one of the things that has tipped us over to buying versus continuing to rent.) So, we are only looking at houses with pools (there aren't enough of them--bummer). But, when trying to figure out what an appropriate offer on such a house is, most of the "comps" are sans pool. So, on average, for the 95835ish zip code area, I'm wondering if I go $140/sq foot ish (around the right # for the area we are looking in, 2500 to 3000 sq ft houses) and then add $30K or $10K or $50K or....You get the picture...
2 votes Thank Flag Link Tue Jun 3, 2008
It depends on the size, age and condition of the pool, whether it's enclosed and how much decking is around it. If the pool is NOT in-ground, forget it. An inground pool that cost $20,000 might add about half that to the value of a home, on average. The majority of buyers today prefer not to have a pool because of the added maintenance required as well as the liability.
2 votes Thank Flag Link Tue Jun 3, 2008
That is a great question...curious - are you asking from a buyer's perspective or seller's perspective?

On paper for appraisal purposes, a pool is worth pennies on the dollar in terms of the cost to install a pool. So if a pool cost $50k to install, one can not assume that it adds $50k to the value of the house. Perhaps it adds $10k?...or just sways a buyer to choose the house with the pool vs. an identical home sans pool. Much depends on the rest of the house - size of the home, size of the remaining yard, what is typical for the neighborhood, etc.

Many buyers are adamantly opposed to purchasing homes with pools (have kids they do not want near a pool, cost and trouble to maintain are too much, etc.), while others are delighted to find a home with a pool.

Good luck to you.
Web Reference: http://www.erinattardi.com
2 votes Thank Flag Link Tue Jun 3, 2008
Erin Stumpf, Real Estate Pro in Sacramento, CA
MVP'08
Contact
The quick and dirty answer is that above ground pools normally detract value and inground pools ad value. This link is to a National Association of Realtors article that does a good job of giving a real explanantion in detail.

http://rodomino.realtor.org/rmomag.nsf/0/3ee9fa94ff6a8355862…
Web Reference: http://www.ReedSells.com
1 vote Thank Flag Link Tue Jun 10, 2008
It's funny with pools, professionally,many buyers consider them a problem because of the upkeep. I would not add any additional value to the home because of the pool.
1 vote Thank Flag Link Tue Jun 10, 2008
Hi I am an appraiser and this is how we value a pool. Based on a paired sales analysis, meaning we take House A which has a pool and House B without a pool. Assuming they are the same in every other aspect, House A sells for $300,000 and House B sells for $310,000. There we can extract that the market did not recognize the pool and therefore no adjustment is warranted. There is always room for a contributory value based on the pools condition, etc.. This holds the same if House A with the pool sold for $350,000 and House B sold for $310,000, then we can extract $40,000 for the pool. You will most likely never get dollar for dollar for installing a pool. The hardest decision I ever made was putting a pool in my house because I knew I was throwing some money away. But I had to do it as an owner and my wants versus being an appraiser. The key is to find at least one comp with a pool so you can make the comparison and extract value.
1 vote Thank Flag Link Wed Jun 4, 2008
In NE OH, in general, a pool is a negative. It narrows the "pool" of Buyers for a home with a pool.
0 votes Thank Flag Link Sun Mar 14, 2010
Take into consideration where the subject home fits in relationship to the other homes on the street. For example, a smaller home that adds a pool amongst larger homes (and values) on the street will get more for a pool than the larger "castle" on the street gets when it adds a pool. You may enjoy it but you will not get as much value out when you "overbuild" for the neighborhood.
0 votes Thank Flag Link Sun Mar 14, 2010
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