Pools And Market Value

Things to consider

*Are there many houses in your area with inground pools?

*Pricing your house way above the current market price to offset your investment could lead to a lower sales price.

*Do you live in a warm climate where a backyard pool is expected?

*How old is the current pool or how long do you plan on living in the house after the new install?  Buyers might be turned off to an older poorly maintained pool.

*How much will it cost to install, service, maintain, and heat that pool? 

*How will it affect your property taxes.

*You are never going to get the full return in dollars. ($$$)

At the end of the day money isn’t everything.   If you are looking to install a pool to increase your level of exercise, have a new family recreation spot or it just makes you happy and of course you can afford the extra expense. Go for it.  

You only live once.

Transcript of video

Inground pools and market value will they increase them well they not that's

the topic of my next video

well installing an inground pool increased the market value of your

property that's a topic of this video hello everybody my name is Mark Schreier

and I'm a licensed sales associate with Century 21 American Homes right here in Long

Island New York spring is not too far away and then we're into the heat of the

summer well should you get that pool are you going to get the return on your

investment maybe not so much financially but you could be getting a significant

reward with family time let's break it down a little what are some of the

things you need to know well when you're considering all you're gonna get the

financial return remember what is do other properties in your area have pools

what percent fifty percent seventy five percent ten percent are you the only

house in the neighborhood with a pole those are definitely things to consider

if 50 percent of the properties have pools and they're all selling at a

regular basis then you know the buyer pool has people that are looking for

pools in their backyard so definitely consider how many houses in the area

have pools doesn't mean you can't be the first one but it's something to consider

on the resale part of it too do you live in a warm climate

if you live in Florida most likely you're gonna have a pool and you should

have a pool because the houses without a pool probably will be a little harder to

sell again doesn't mean they can't but it would be a little harder because most

of the buyer pool is probably looking for an in-ground pool in their backyard

if they live in a very warm climate the next thing when you when do you plan

to sell if you buy a house and you say in 20 years I'm gonna sell and I have

this pool well twenty years from now that pool is now twenty years old so if

other people are installing pools that are newer then that could be problematic

because the mr. buyer is gonna say well your pool is twenty years older than the

pool down the block with a house that's for sale so I think I'm gonna go with

that property over yours so you might have to reduce your price a little in

order to get the buyer to make it attractive to them

and another thing to consider even if the market value went up slightly you

got to realize you had carrying costs you had to pay for definitely the

install and if you financially you have to pay all that interest over the 15 or

5 or 20 years whatever that interest rate was and how long that loan was for

and you also have to pay for the upkeep you had to pay for the energy for the

pump if you have a heater you have to pay for the energy for that maintenance

on the pool the insurance your liability insurance definitely will go up and you

should definitely up your liability insurance if you get a pool because

there you are do have a greater risk that's going on so all in all what is it

worth it it's totally up to you if you think that you're gonna get much more

family time I know as somebody who has older kids if I had a pool at one time

that might have been the center where all my kids friends wanted to hang out

and socialize because we would have had a pool but some developments

particularly out here on the island have community pools so you gotta weigh the

pros and the cons if in fact as a community pools and we'll have all the

expenses and you can meet with your family and everything else that these

pools is it really worth the extra investment totally up to you I hope you

enjoyed the video please give me a thumbs up if you did don't forget to

subscribe and this is Mark Schreier from century 21 American Homes and thanks again for

watching