Home Buying in 46142>Question Details

Carolyn, Other/Just Looking in 46143

on average, how much does the asking price increase if the home has an inground pool?

Asked by Carolyn, 46143 Thu Aug 20, 2009

i am looking at houses in the same general area/center grove school district, i found one that is much older than others with an average sq, but it is listed much higher, sometimes alot higher. is this all because the home has an inground pool??

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12
Caroline:

This is a great question. My experience is this: having a pool adds $0 to the value of the house, and it may, in fact, reduce the value. Overall, there are fewer buyers who want the costs and hassles associated with a pool, so your access to a range of buyers is significantly limited. Lower demand = lower value.

But here's the caveat to that statement. If having a pool at your house significantly adds to your family's enjoyment...if it's something that's really important in your social lives...if the value you get out of the pool is not monetary but rather in time spent together... then by all means put in a pool. Just don't think that putting in a $60,000 pool is going to add "dollar" value to your home. It's just not.

Good luck!

Joe Shoemaker
Principal Broker, REALTOR®
MacDuff Realty Group
joe@macduffrealty.com
2 votes Thank Flag Link Thu Aug 20, 2009
Depends on where you are. For the most part they don't add value and can actually become a deterrence. In neighborhoods where pools are abundant, you'll want one because it's expected out of that neighborhood. Otherwise, in many parts of the country (families with small children especially) view pools as unnecessary and ultimately more maintenance than added value.
1 vote Thank Flag Link Thu Aug 20, 2009
In Florida, where the sun shines consistently, water NEVER freezes, RH of 85% is not uncommon and Temps stay at 86...pools are of value ONLY to those who want pools.
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If you want the best price for your home in Florida, match your home to the right buyer.
If a buyer does not drive, has sun allergies, lives in fear of tropical critters, wishes not to look upon expanses of manicured lawn, resists the 5 minutes of maintenance a pool requires, has no carbon footprint awareness, does that mean garages, lanias, conservation frontage homes, green lawns, pools or thermal windows add no value? OF COURSE THEY DO! They add value to a willing buyer. A person buying a house they don't want is not a willing buyer, therefore will not value those assets of the home.
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If I sell my home with a well maintained pool, enclosed, with an expansive lania, I WILL get more money than a home lacking these attributes. I will wait for the buyer whose lifestyle values the attributes of my home.

Remember, value is that which a willing and able buyer and willing seller agree upon. The common misconception that an appraisal is the establishment of value. An appraisal ordered by the bank has an entirely different (internal) purpose. Home sellers need to be very aware of this reality.

Best of success to you,
Annette Lawrence, Broker/Associate
Reamx Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
Movie Tour
http://youtu.be/g1H-_ny-Mnk
0 votes Thank Flag Link Wed Feb 13, 2013
That depends on the area. In Denver it doesn't increase the value or marketablity of the home as it would in a different area like Florida.
0 votes Thank Flag Link Wed Feb 13, 2013
If you are looking in the Greenwood, IN area then the answer is anywhere between zero & $5,000. Of course the price range, type and quality of the space all matter. A good question but more information would is necessary to make an accurate determination. Generally speaking a pool in Greenwood doesn't add much, if any value.
0 votes Thank Flag Link Wed Sep 2, 2009
No professional can render an opinion except your buyers agent who can comp the property of interest.

Homes with pools MAY sale more than homes with no pools, Many factors are determine value of home,

GREAT QUESTION

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0 votes Thank Flag Link Fri Aug 21, 2009
Hi Caroline,
I agree with Joe Shoemaker's answer. Unless a home is in Flordia and a few other hot weather areas, odds are that the pool is a negative to it's value. I assume the home is listed for more due to other factors or it's priced incorrectly.
0 votes Thank Flag Link Thu Aug 20, 2009
Caroline,

Depending on the condition, type, and size of the pool a realistic price range could be between $10,000 and $40,000.

Our recommendation is to have your realtor provide you with information on recently sold homes both with and without pools from your general location. A review of this important information should help you to see this more clearly.

Good luck
The Eckler Team
0 votes Thank Flag Link Thu Aug 20, 2009
I have been advised by a local MAI appraiser that a pool is valued at only half the actual depreciated cost of the pool. Some buyers do not want a pool and thus the full value is not recognized.
0 votes Thank Flag Link Thu Aug 20, 2009
It depends on the age of the home, and the type of pool. In SW Florida, we often have custom pools that can factor in $100K, but typically you are looking at between $15,000 and $40,000 - again depending on age and condition of equipment.
Web Reference: http://www.judyhashomes.com
0 votes Thank Flag Link Thu Aug 20, 2009
Caroline,

The Centergrove area is an interesting area when it comes to housing. It is by far the most sought after area in the county therefore fetching higer prices than Pleasant or Clark Townships. In my opinion an inground pool should add no more than 5k maybe 10k if it were spectactular. Sometimes having an inground pool can deter clients from looking at the property especially here in Indiana where you can not use them year round. You have to remember Centergrove is all about the Neighborhoods. That is where you get your price difference. Please fell free to give me a call. My team would be happy to assist you in all your needs.



Brad Osborne
Coldwelll Banker
Greenwood, IN 46143

Cell 317-258-3651
Web Reference: http://bosbornehomes.com
0 votes Thank Flag Link Thu Aug 20, 2009
Caroline,

The Centergrove area is an interesting area when it comes to housing. It is by far the most sought after area in the county therefore fetching higer prices than Pleasant or Clark Townships. In my opinion an inground pool should add no more than 5k maybe 10k if it were spectactular. Sometimes having an inground pool can deter clients from looking at the property especially here in Indiana where you can not use them year round. You have to remember Centergrove is all about the Neighborhoods. That is where you get your price difference. Please fell free to give me a call. My team would be happy to assist you in all your needs.



Brad Osborne
Coldwelll Banker
Greenwood, IN 46143

Cell 317-258-3651
Web Reference: http://bosbornehomes.com
0 votes Thank Flag Link Thu Aug 20, 2009
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