Adjustments for swimming pool

[Tim Hicks (Texas)]

Boy, you guys up north are ruthless. In ground pools are a dime a dozen here in Texas. Why would they be detrimental up north? They still have utility. We even have heated pool/spas in this area for winter swimming. Why can't ya'll (Texas talk) do that up there? Paired sales still is the main answer. Typically we have enough sales to include three with pools, but otherwise we can figure out contributory value through substitution and extraction. It is rarely over 50% of actual cost, but so are workshops, barns and hangars.

 

[airphoto]

My neighbor was unable to sell his overpriced split level until he filled in the pool and built a 2-car garage where it used to be ..

 

[BarbaraNJ]

Patricia:

Find myself joining most of the posts, and particularly those in the Northern areas----paired sales are your best indication.

Just a few personal observations: I only "count" in ground pools since they are a permanent part of the site and improvements (realty) and not easily movable or removable like an above ground pool which, I believe, is considered personalty.

Richard pretty much says it best---in some areas the contribution is Zero.

To support Richard and answer Tim, we in the North find ourselves able to use a pool without heating the water perhaps three months out of twelve. That means paying for heat nine months of the year to use it year round.

The pool becomes a detriment because of the additional expense of (1) heating (2) maintenance (3) increased property taxes (4) increased homewoner's insurance liability. After all of those expenses combined, you have to REALLY like swimming and use it the majority of the year to justify the costs.

Not to mention, of course, the additional expense of entertaining the people who "drop by" because they dont have a pool !!!

The general consensus of the real estate agents in these parts is that the AVERAGE response of area homebuyers is "OK if its there, but I'm not paying "extra".


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The Harder I Work, The Luckier I Get

 

[Stone]

There are a few reasons why pools have so little value up north (although they do have some value in my market). Many people have hot tubs that they use in the winter, but the cost to heat a swimming pool for three to four months of sub-freezing weather would be enormous. Because of this the season lasts only three months, four with a heated pool.

You also have to fill and drain the pool each year, which takes a fair amount of time and energy. Once the pool is filled for the new season it takes time to get the water chemicals in line.

Another problem is the concrete decking. Eventually concrete cracks after many winters. More labor or expense.

All that said, I actually would like one in the future. I think.

 

[Frederick R. Ruffell]

Patricia,
assuming the subject has no pool, the adjustment (to the comp with a pool) would probably be positive at the north pole, because the market ain't going swimming and it would cost money to maintain or remove. The same pool in Death Valley may be considered a necessity and would get a negative adjustment when compared to a home without one. I use these extremes to demonstrate the point.

 

[G-man]

A pool in the north can be a detriment to a property simply because prospective buyers may not want to deal with a pool. For simple personal experience, my wife and I looked at several houses when shopping for our first house and turned down two or three because they had a pool. In this market, homes with pools may need a longer marketing time. Also, when doing the sales comparison, it may not be possible to find a comparable sale with a similar type of pool, inground vs. above ground, with the same type of construction or amenities. Some underwriters will absolutely give no credit for pools without at least one comparable sale to support the value of a pool. So if no sales are found, no value is added. Most homeowners realize this, but some take a beating when selling their home with that beautiful $25K inground pool they put in two years ago.

 

[Terrel L. Shields]

>>the additional expense of entertaining the people who "drop by" because they dont have a pool !!! <<

One of my hands has a pool and often comes home to 3 to 10 people in her swimming pool, and the house is about 2 miles from the nearest other home. Neighbors, friends, relatives, from about 90 degrees and up and from noon to dark, every day.

 

[Charlotte Dixon]

In our area, inground pools are not typical for the market. I appraised a property not too long ago which had an inground pool, in addition to a doublewide manufactured home with a location in an agricultural area, surrounded by corn fields. What a waste of money !