Selling a property is a tricky business. Aside from competing with thousands of fellow sellers in the real estate market, you also need to spend some time and money to prepare your property for prospective buyers to get interested in buying your home.
One of the first things that you need to think about before selling a home is how much you’re willing to get paid to sell the property. The selling price of a home depends on the following factors based on an article in Zillow: comparables, home improvements, existing interest rates, and the comparative market analysis.
Some homeowners look at home selling as an investment, and that’s why they’re willing to upgrade the features of their properties. The most common addition to an existing home up for sale is a swimming pool.
If you’re somehow confused as to whether adding a swimming pool will add value to your property or not, let me discuss the pros and cons of having a pool in terms of home value:
Advantages of adding a pool
Attractiveness, especially in high-end neighborhoods
If your property is located in an eclectic community where most of the homes have swimming pools, it might be hard to sell your home without a pool in it. Potential buyers with more than enough money on their hands will probably find a swimming pool a worthwhile feature of their dream home.
Takes the heat off warm-climate areas
Nothing beats a hot day like wading in water. If your home is located in warm areas such as Hawaii or Florida, having a pool will allow you to sell your property fast. In fact, the pool may be one of the selling points of your property, especially if your prospective buyers like to cool down in a pool of their own.
Potential to increase property value
According to estimates by the National Association of Realtors, you might see the value of your home increase by up to 7 percent. Sure, that value isn’t too big, but it’s an increase nonetheless.
Disadvantages of adding a pool
Adding a pool is not like hanging a new painting on the wall; it involves a hefty sum of money. You need to calculate the costs of adding a pool, the amount of which will depend on the pool size and the difficulty in the terrain where it will be installed.
It may be a good idea to visit websites of reliable pool building contractors such as http://californiapoolside.com, so that you’ll have a glimpse of the cost of building a pool for your home.
The need to rebuild on an existing property
Additions to an existing home sounds like a simple and value-adding element, but not until you learn that you’ve hired a contractor that botched the job and destroyed part of your property. You need to find the right home builder or pool contractor to prevent any headaches during the renovation.
The addition of a pool may either make or break the value of your current home. Make sure that you know whether putting a pool can increase the value of your property or devalue it. Otherwise – and especially if you’re strapped for cash – you might have to resort to other ways to increase the value of your home, say a wooden deck or a kitchen upgrade.