I have sold several homes with pools and the issue of the pool always comes up. I believe a fair valuation would be is the actual cost is in filling the pool and lanscaping the area Filling a typical pool will cost anywhere from $10,000-%15,000 to fill professionally. Simply landscaping a backyard will cost you roughly $2500 for sod, $1000 for sprinklers, $1000 for plants and trees, and $2000 for hardscaping. Total cost of lanscaping and filling the pool should be between $16,000 and $20,000.
Prices will vary by pool size and if you cannot get a bobcat or tractor to the back, so its wise to get an estimate from a professional pool demolition contractor. While preparing to put the home on the market, I will obtain an estimate for the removal and lanscaping, so if it becomes an issue, which it always has, we can present it to the buyer as an option.
I would not deduct it from the list price, but add it as an incentive if the buyer requests it.
For example, after reviewing 30,000 home sales in Philadelphia from 1996 to 2003, NAR reported in 2004 that property values jump about 8 percent because of in-ground pools and fall by roughly 2 percent because of above-ground pools.
If you are interested about the other characteristics of homes and their pricing influences contact me offline and I will email you the study results.
We find that the pool does not diminish price, but it doesn't add anything either - it's a wash. What a pool WILL do, however, is decrease the number of buyers for the home by about 50%.
I'm not prepared to say that a pool is guaranteed to generate discounted price for a home--especially if the home is located in a good school district. Amongst certain ethnic groups (Asians, for example), a pool is a disincentive because of the maintenance and insurance costs, as well as the "inauspicious aspects" of such large bodies of water on the property--feng shui. Since a disproportionately larger number of homebuyers are Asian, homes with pools don't have quite as much appeal as those without a pool. However, if a buyer likes the home, the property configuration, the location and the schools, a pool will not create a huge disincentive to purchase nor a discount over homes without pools.
As with any home purchase (with or without a pool), comparables will help gauge the purchase price of the property that you're considering. Speak with your real estate professional to determine how best to price your offer or list your home. In some cases--especially if the home is not necessarily located in a good school district or location, it can be advantageous to be open to asking for or offering a discount to remove a pool from the property.
Good luck and happy house selling and buying!!
Grace Morioka, SRES, e-Pro
Area Pro Realty
This is Allyson, I'm going to take your question from a different angle as the other Realtors have given you there perspective. I have been working mainly as a buying agent ( though I am also an experienced listing agent ) and most of my buyers just WON'T look at homes with pools. There main issue is the safety of there children. As far as price differential I do not know a percentage of price difference because it ALL depends on price range of the homes you are comparing. High end homes I don't think it makes much of a difference,at least with my buyers. Middle priced homes it may make a difference as fewer people want pools at this level.Now the LOW end homes now it does make a difference as most purchasers are 1st time home buyers or investors. The 1st timers usually have small children or are planing on starting a family and Don't want there small children near a pool. Now the investors don't want the expence of maintaining a pool and as you SO rightly pointed out the increase in insurance premiums as they are looking for return on their investment they want to keep expences as low as possible.
I hope this helps, let me know if you have any additional questions.
If you're looking for a house, and don't want a pool, don't disregard a house that has one. A pool contractor can do what's called a partial demo, where the top 3' of the pool is removed, holes punched in the bottom of the pool for drainage, and the whole thing filled in. Depending on the size of the pool and access, this typically runs ~ $10K. Landscaping the area is extra. Cities are OK with this method, as long as you don't plan to build on top of a pool removed in this way.
This is not a lot compared to the purchase price of a home, and you may be able to get the seller to credit you for pool removal.