Joe.

It all depends. If you are planning on putting in a pool to sell your home, then I would strongly advise against doing it. Doing so will reduce the marketability of your home. Home buyers who would like to have a pool can put it in themselves and decide how they want it to look. Home buyers who do not want a pool never have to deal with one if it isn't there.

If you are planning on putting the pool in for your own personal enjoyment, them by all means go ahead and do it. If you plan on selling in less than 10 years, you should expect to have the pool diminish your home's value unless you live on a large property with plenty of yard for kids to safely play.

If you want the best of both worlds, get a hot tub that you can remove when you're ready to sell. You'll be able to soak your worries away until then.

Dear Joe,
There are some improvements that are simply for your enjoyment. Both pools and hot tubs are in that category. If you believe that you will enjoy it much of the year and recoup the cost of maintenance and installation in enjoyment and conveniance a pool might be for you.

Occasionally we will run across someone that just has to have a pool and they can be great buyers for your home. However, even they will look at it as a savings to them compared to installing a pool themselves.

You may be better off selling your current home and buying a home with a pool to ensure that you won't be the one to take the monetary hit.

In Cupertino, where my office is located, a pool will reduce the demand/value of the house. This is the case in many Silicon Valley neighborhoods that are driven by excellent school scores. Not so in the luxury home market of these same districts, mostly in the mid-range single family homes (1500-2,000sqft, 800k-1.3k, 3 and 4 bedroom homes). When speaking to a seller who has a pool in that market, I talk about the cost benefit to filling the pool in (approximately $10,000) and the increase in price and offers that will be achieved (this could be a 10X multiple). Menlo Park has a variety of homes, ranges, styles, lot sizes. It may or may not be an investment move, although it very well may make your summers wonderful.

I started my working career being a pool guy. I maintained pools for over 10 years and I can say they can be a handful. If you have pine trees, oak trees, or any other type of try that drops mass amounts of leaves over the area you want to build your pool, expect to get stains and lots of dirt in the pool. Stick to a dark bottom pool. Make sure the company building your pool has been in the business for at least 10 years. Don’t go with the cheapest bid either. The area they will spend less money are the area most important to maintaining your pool.

As far as added value, there will not be much. I think you get something like .20 cents on the dollar. Pools can run from 30,000 to 100,000+. But adding a pool to your home will increase the chance that your kids (if you have them) will stay at home and invite their friends over for a day in the sun. Plus when you have parties you have the option of being pool side. I personally love pools and love the luxury of getting up in the morning and jumping in to wake up. I agree with Kevin P. you many run into a problem selling your home if buyers are not looking for swimming pools. But at the same time you might get lost of buyers who are looking for a pool and buy yours. Don’t second guess yourself on this one. If you can buy a pool and you will use it then I say put one in. Also keep in mind that your electric bill will increase and over all up keep of the pool will run around 70-100 dollars per month.

My experience in and around Menlo Park, Palo Alto, and Mountain View is that in the under $2M market, a pool tends to actually reduce the value of a home. Why? Simply because most prospective buyers with kids find the dangers of a pool to outweigh the pleasure. The vast majority of my buy-side clients with kids specifically do _not_ want a home with a pool. I can't tell you the number of times I've gone to preview a property for a client and only found out then -- as opposed to on the MLS -- that the property had a pool. Quite a number of listings agents will "forget" to mention that a home has a pool on the MLS simply to make sure that other agents don't simply skip the home.

Having said all of this, if you're going to be living in the home for a number of years, I would say go ahead and put in a pool if it's something you would enjoy having. _Don't_ put it in, however, as an "investment." If you have, say, $50K sitting around burning a hole in your pocket, and you're thinking of putting it into your home in a positive-ROI project, better spend that money on a swank kitchen or bathroom upgrade.

In parts of the $2M+ market, especially at, say, $4M and above, a pool is pretty much expected.

I agree with the other answers, but it is dependent on the area of the country you live in. I have lived in many parts of America, and have found tha a pool has limited use in the winter (expensive to heat). However, in SW Florida we can use the pool all year long with limited heating and a cover in the winter. In the Fort Myers and Cape Coral market most buyers want a pool home.

Joe, both, Irina and Deborah are right on the money. Enjoy the pool and make sure that you keep it well maintained and secured, as not doing so might add to problems while selling the house.

Regards,
Artur

Joe,

It's an interesting question. I would ask you how important is the pool to you and your family? And, are you willing to invest in building a pool for your own pleasure?

In my experience, clients will either want a pool or will specifically look for properties WITHOUT a pool. A nice pool in and around Pasadena, CA will run you about $45,000 to $50,000. Will you recoup the investment - most likely not. Will it add a bit of value to your property - maybe.

Remember, not everyone wants the pool and the maintenance costs/responsibilities that come along with it.

Install a pool if it will make you and your family happy.

Good luck,
Irina

The greatest value a pool will add to your home is the value it brings to you, your family and friends in terms of enjoyment and memories. In certain communities, where pools are common, a "nice" pool will help sell a property faster, perhaps for slightly more. In a community where pools are common, a pool that is not up to the typical pools of the neighborhood will detract from the value of the property. Some buyers seek pools, while others specifically and purposely avoid them. Put in a pool for personal enjoyment, not as a 'money maker.' A nice pool may add only a small amount of value to a property.