In my experience there are ceratin percentages of buyers who: a) want a pool b) will tolerate a pool if it is already there or c) will not buy a house with a pool, period. The percentages change (get smaller for the 'pro-pool' contingent) every year. I'd say that less than 50% of buyers in Silicon Valley are actively looking for a home with a pool or are tolerant of having a pool. It could be as low as 30% or even 20%. I have no scientific data on that. My figures come from 24 years of experience and over 500 homes bought and sold in Silicon Valley.
Appraisers will likely tell you that a pool will add little or no value to a property when it is being appraised.
The negative impacts of a pool are:
1) Weekly maintenance ($75-$200+ a month for chemicals and monitoring).
2) The electric bill for the pumps that need to run daily for filtration, pool sweep, and solar.
3) Increased liability (you'll want a $1M, $2M, $3M or more umbrella policy when you own a pool).
4) The cost to repair decking, resurfacing of the pool, equipment maintenance, solar maintenance, etc.
You can remove (or fill in) an existing pool (usually with a required permit and the appropriate removal process) for a cost range of $8K to $25K. That's what clients of mine have paid in the past to do that.
There are a lot of positive aspects of having a house with a pool. But those are of a personal nature and something someone chooses, despite the costs and maintenance involved. Some people love pools.
And to answer your question more directly: No. With the caveat that if it is an old pool in need of high maintenance and costly repairs down the road, yes. Or if it is a pool that eliminates all other uses for a backyard (no lawn, no trees, all concrete, etc.).
Are you thinking of getting a home with a pool?
Mark Burns, Realtor
Coldwell Banker - Premier
DRE #00896552 - licensed since 1985
PS I just had buyers purchase a home with a pool and they basically turned down everything that didn't have one. It was a high priority for them.
I am a former real estate appraiser.
My experience as a Real Estate Appraiser was that we often had to adjust the value of a property with a pool downward to reflect the negative contribution to value of the pool to the Fair Market Value of the property. This is particularly true if the pool was more than a few years old, and took up most of the yard, making the yard unuseable for other purposes..
Essentially, the pool is often seen by potential buyers as a portential hazard and an unnecessary liability. Also the pool requires a great deal of maintenance.
The result is that the pool often has a negative influence on the Fair MArket Value of the property.
As a Real Estate Broker, I am often asked by my clients, how much it will cost to have a contractor fill in the pool and restore the property to it's original state.
Although it is very true that I do have some clients who insist on a house with a pool, most do not, and many of my clients will refuse to even consider a property with a pool.
Essentially, the answer is yes, in most cases a pool will diminish the Fair Market Value of the propertyand will make the property much harder to sell.
Charles Butterfield MBA
Real Estate Broker/REALTOR
Cell Phone: (408)509-6218
Email Address: firstname.lastname@example.org