Q: Will a swimming pool add value to my property?
A: Swimming pools are always a hot topic for the appraisal. People are always wondering if they are a good investment.
An in-ground swimming pool is a regular pool that has been installed in the ground. Usually, it is made of concrete and offers concrete sidewalks and fencing around the pool. This type of pool will at least have a chance of being valued, because this is a permanent fixture to the home.
To be given any value at all, the pool must be well maintained, in good working order and clean,. In other words, maintain your pool properly or take it out. If it is not maintained, it will lessen the chance of you selling your home and will decrease the value of your home by at least the cost to bring the pool back up to average condition.
If you have an aboveground pool, it is not a big deal, because the appraiser will not give the pool any value. This is because it is considered personal property. But, if the pool is in bad condition, take it down. While it will not do much for your home value for the appraisal aspect, if you are going to sell your home, I can assure you that nobody will want to see a dirty swimming pool.
Back to the value, we have already discussed that above-ground pools will not be given any value for the purposes of the appraisal, so if you’re planning to buy an aboveground swimming pool to increase the value of your home, I would reconsider.
For an in-ground swimming pool, the value of the pool will have to be determined from the market area. In-ground swimming pools may be given some value, but most of the time, they are not significant enough to dramatically change the value of the property.
Jennifer Grayson is president of the Greater Chattanooga Association of Realtors