As a builder of luxury pools, a question we hear frequently at Bellareed is “How much value will my pool add to my home?” It’s a good question a responsible homeowner should ask, but there is no concrete answer. The most common estimate you hear from real estate experts is that an inground pool raises a home’s value by 7% at most.
However, several factors can pull that figure in either direction. Therefore, you should arm yourself with a few other responsible questions when determining your potential ROI of a luxury pool in Tennessee.
A key rule of the real estate game is that different buyers want different things. So if you want to make a sale, you need to do some market research on what buyers in your area want at the present time.
Some may view a home with a pool and walk away because they don’t want to assume the liability or cost of maintaining it. Others will jump at the chance of having a home with their dream pool already constructed in the backyard. The likelihood of this happening usually increases if you sell in the warmer months when people can better envision going for a swim in their new backyard.
In the wake of the pandemic, the pool and spa industry experienced a significant uptick in sales from homeowners looking to get the most recreation out of their own property. So keep an eye on the trends. Depending on your timing in the market, you may generate profit through the addition of a pool.
If you want an idea of how much a luxury pool will help your bottom line, take a drive around the neighborhood. Do other homes like yours have pools in the backyard? If so, your pool project may be worth the investment.
An appraiser can help you gather the most accurate analysis of comparable homes in your area with a pool. From there, they would use the data to determine a fair market value for your home and how it may change with a pool added.
An easy approach to this process is to talk to your neighbors first. They have probably already been down this road, especially if their outdoor living environment has undergone enhancements over the years.
Curb appeal is such a huge influence on selling price. Therefore, if your pool is constructed with attractive, durable materials and you maintain it properly, buyers are much more likely to recognize its value and adjust their offers accordingly. If your pool is in disrepair and looks like a swampy nightmare, don’t expect anything for it.
In our recent blog post, What To Look For In a Pool Builder, we stressed how important it is for pool builders to be real estate literate and master craftspeople. Bellareed’s team of in-house designers and builders leads the industry in using high-end concepts and materials that enhance home value.
A custom pool from Bellareed can elevate your current address from “a place to live” to a true sanctuary, however long you live there. Contact us today to schedule a free design consultation. Once a design is complete, your new, luxury pool can be yours in as little as 12 weeks!
Bellareed Luxury Pools is a custom luxury pool, outdoor living design and construction company based in Atlanta, Georgia and Murfreesboro, Tennessee.
Copyright 2023 © Bellareed Luxury Pools