Posted on: 29 May 2019
Installing a pool is a luxury investment for many Americans. The dream of escaping the hot summer sun by dipping into the cool waters of a swimming pool is shared by many. However, the cost implications also make this a decision that must be approached with a lot of care.
Compared to other types of pools, inground pools are especially desirable due to their luxurious look. However, these pools are also the most expensive and require the most amount of work to install. Can installing an inground pool ever be a good investment, or is it just another thing to drain your pockets?
Pools Can Increase the Value of Your Home
In the right market, a swimming pool will increase the value of a home. However, to register these returns, you may have to be patient when you're trying to sell your house. Not every potential homeowner will be interested in having a pool, especially if it means paying 25% more than they would have if the pool wasn't there. However, once a discerning buyer comes along, they are likely to see the sense in paying extra to get an inground pool.
You May Not Recoup Your Investment
If you're installing a pool for the sole reason of increasing the value of your house in the long run, you should probably think twice. A pool is primarily a luxury investment, and if all other factors remain constant, you may not get back all the money you'll spend installing and maintaining the pool.
Another reason why you may fail to recoup the money you invest in a pool is the fact that many pool materials have a limited lifespan. If you sell the house closer to the end of the pool's lifespan, it may not be as attractive to buyers since they'll need to spend more money to revive it.
A Swimming Pool is Mainly About You
If you're considering getting an inground pool, the best approach is not how it will benefit the next homeowner or whether you'll get back everything you spend on the pool. What you need to be asking yourself is how it will benefit your household to have a pool in the backyard.
Home is a place where you should be able to relax and have fun even on a hot day. Having a pool gives you all that. Plus it's a great place to entertain visitors and have fun with your family.Share