Q. I’m thinking about putting in a swimming pool. Will it increase my home’s value?
A. If you put in an in-ground pool, you can add some value to your home, but the conventional wisdom is that swimming pools are not a good upgrade in terms of return on investment.
The National Association of Realtors says that adding a pool can increase your home value by about 7% (and that number might be higher in locations that are warm year around.) But 7 percent might not begin to cover the cost of a $30,000 inground pool.
You might also find it harder to sell your home, especially to parents of small children.
As a general rule, above-ground pools are considered a complete loss for recovering cost and may actually decrease the value of a home. Fortunately, above ground pools can be easily disposed of.
If you want a pool, the best bet might be to buy a home with a nice in-ground pool already installed. You are sure to get the pool much more inexpensively than having it installed yourself.
And while you can’t depend on a pool to substantially increase your home’s value, it can be a great investment in family fun.