Pool Removal – The Real Estate Value
Whether or not to remove a pool is a very common question. In many instances, pool removal can in fact increase the value of one’s property.
Here is a list of factors that may have a negative effect on your home’s value that should lead you to consider pool removal.
- If the pool takes up 30% or more of the backyard.
- If the pool is over 30 years old and is in need of repair
- If the pool does not have a safety gate around it.
- If the pool is made from a vinyl liner.
- If the geographic area the pool is in has less than 3 months of “swimming weather”
- If the pool is the only one in the neighborhood.
- If your area is currently experiencing a drought
Unless your geographic location allows for 6 or more solid months of swimming weather, your pool is less than 15 years old, and most of the neighborhood has a pool, you can expect your pool to decrease your property value.
Some of the exceptions to your pool decreasing your property value would be if your house is considered a luxury home, many of your neighbors have a pool, and the pool is completely enclosed, including a secure safety gate.
Many folks just don’t like the risks involved in owning a pool. Therefore trying to make your property more attractive to potential buyers, pool removal could be your best option.
Removing your pool also allows your property to have more outdoor green space. An uncluttered yard increases your property’s potential; thus increasing your property’s value.
Swimming pools are nice to enjoy at a friend’s or neighbor’s house, but can be a hassle to have at your own home. Many potential home buyers view swimming pools as dangerous, expensive to maintain and a lawsuit waiting to happen. Families with young children in particular may turn down an otherwise perfect house because of the pool (and the fear of a child going in the pool unsupervised). In fact, a would-be buyer’s offer may be contingent on the home seller dismantling an above ground pool or filling in an in-ground pool. The one exception could be if having a pool is standard in your neighborhood, as it can be in warm states such as California, Arizona, Florida and Hawaii.
An in-ground pool costs anywhere from $30,000 to more than $100,000, and additional yearly maintenance expenses are part of the package. That’s a significant amount of money that might never be recouped if and when the house is sold. Put one in for your own pleasure, perhaps, but know that it could cost you when you sell your home.
Many pools that we remove in the Denver, CO and Wauconda, IL areas are related to real estate transactions.
- A home that was on the market for many months just could not attract any offers. The pool which was poorly placed was removed and the resulting area professionally landscaped. The house then went into escrow within weeks of being put back onto the market.
- Another home with a pool that needed to be rented out. In order to rent the home the insurance company wanted to increase the premium drastically and install a gate that was going to cost $3,500. In addition, several renters expressed hesitation due to the pool and the homeowners would be responsible for maintenance and repair. They decided the best course of action was pool removal.
- An older couple had lived in their home for many years. They were beginning to find that maintenance costs were getting too high. They were thinking of selling the house. They had never considered pool removal until they did the math and realized the cost to remove the pool would be far less than the cost relating to buying another home.
Here are just a few ideas what to do with all of the newly created space.
Make sure to read our blog articles for many more idea.
Looking forward to hearing from you.
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