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The Inground Pool, & happy American homeowner

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vargasteve

Thread Starter
Junior Member
Joined
Jan 21, 2002
Professional Status
Certified Residential Appraiser
State
California
The inground pool - what do you formites think home owners should consider most about pools.

Not too long ago here there was a water shortage, only could water on Tues & Thursdays, water prices were doubled. In times like these its not uncommon for realtors to offer to fill the pool if the buyer desires.

Then there is the pool that takes up the entire yard, therefore eliminating the yard.

What are your professional opinions / pro's & con's about the American Favorite Inground Pool? 8O
 

Frederick R. Ruffell

Senior Member
Joined
Jan 21, 2002
Professional Status
Certified General Appraiser
State
California
Pools in Alaska are worth less than nothing (i.e. represent a cost to the seller). Pools in Death Valley are worth more than their cost (i.e. will return more than their cost to install). It just depends on location and the market. I use the extremes to demonstrate the point.
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
In my market I can't find enough comparbles to do a matched pair but in talking to homeowners most are under the impression they are more trouble than they are worth. If its a nice home and a nice pool there seems to be some value. Mid-priced home I am not sure but I dont think there is any value.

However once I sell my home I am going to build a new house and I am putting in a pool because I want one and I will use it. I know going into it that it will be an overimprovement too. But I am putting it in for myself.
 

Dave Doering

Sophomore Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Missouri
While pools in most segments of the markets that I work in are generally a superadequacy, my experience with inground pools is that they contribute proportionately to the value of the property excluding the pool. I actually have had a couple of paired sales over the years that have allowed for an almost perfect extraction. In my market, the rate of contribution ranges from 5% to 8% of the overall value of the property excluding the pool. (For Example: On a $400,000 property the pool would contribute between $20,000 and $32,000, while on a $100,000 property the contribution range would be $5000 to $8000.) Where a particular pool falls in the range generally relates to the pool quality of construction (whether it is a concrete or tile pool, vinyl lined pool or fiberglass pool)and the pool amenities (such as slides, diving boards, automatic pool cover systems, whether the pool is heated for extended use, etc.).

Obviously, there is some point where a pool has little contribution to the value or may be a detriment. This is the case in lower end homes where the cost of pool ownership and upkeep exceeds the typical cost of homeownership. In upper end homes and neighborhoods where pools are more typical and commonplace, the relationship between cost and value is more direct. Regardless, I have found that for the market as a whole the percentage contribution relationship appears to hold in all market segments.
 

wyecoyote

Senior Member
Joined
Jan 15, 2002
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Washington
Here in my market on more than one occasion I have found that Inground pools add no value and in some cases actually are a detremential condition thus a negative adjustment (Homeowners/loan officers are extremly happy to see a - sign for inground pool). Only in one case was I able to find that an inground pool added value. It was a Indoor Inground pool on a lake. Had one sale that sold with same type of pool. Sold for a little bit higher than others about 2-3% more $900K house. But this depends on your market as well. This is rainy pac NW were useage of a pool may equate to 3+/- months out of the year. It is kinda funny that a Hot tub or jaquzi will add more value to a house than an Inground pool.

Ryan
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
This is Y I am so glad that mine is a water view & not a pool. Pools are for enjoyment Since U spent all this money on a pool & your not going to get the cost back in value. Get the Value from the enjoyment.
 

Blue1

Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
Consider that a pool is NOT an investment. Market recapture is less than half even in warm climates. I cold climates it may even contribute negatively to value and/or marketability. You want a pool? Do it for your own enjoyment.......don't expect a "return" on your money........And no........it's not a "water view" (C'mon now Karl, stop funnin wit' us) :lol: :lol: :lol:
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
My experience is that above ground pools are invisible in the market place. In ground in residential areas the pool will contribute some value, likely about 1/2 the cost of the pool LESS the % depreciation of the dwelling. (Pools contribute more to newer houses) That is for a conventional pool of reasonable size with all functioning items and a fence. Extravegance is in pools costing more than $20K. and these suffer huge amounts of functional obsol. Pools without fencing are considered a safety hazard and are duly noted as such. Most towns require a fence as would common sense.

A pool with pool house I know in a nearly new dwelling cost $50K according to landowner. Appraisal was $279,000 and sales price ended up at $250,000, I attribute that $29,000 difference to the func. obsol. of the pool.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
I agree with Dave. Just did a nice house with an older pool. I asked about the pool and the seller said the buyer was going to fill it in. What do they contribute? In the smaller, older homes, little if any. In the larger homes, 1/3 to 1/2 cost. In the custom homes, they are expected and contribute pretty much cost, except where the homeowner goes berserk on the pool design. I generally recommend where someone wants a pool, that they buy a home with a pool. It's cheaper in the long run.
 
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