For most people, when they think of buying a new swimming pool, they’re solely concerned with the different ways it will elevate their day-to-day life. You can host parties by the pool, you can go for relaxing swims in the evening sun, you can teach your children a love for aquatic sports from a young age – there are so many ways a pool can bring joy into your life.
What’s often forgotten, though, is that a pool can also add serious value to your home. A study by LendingTree in 2019 looked at property values in some of the United States’ largest housing markets, separating homes which had pools from homes without. Across all markets, homes with pools were 50% more expensive; however, in Memphis, homes with pools were 157% more expensive – the biggest differential anywhere in the country!
The location is important
If you live in a Sunbelt state such as Tennessee or Texas, then you’re in luck – your pool will add much more value to your home than it would anywhere else. That’s why homes with pools in Memphis are so much more valuable than homes without pools, because with such beautiful weather, a pool is almost essential!
If you live in a northern state, then we would only suggest building a pool in your backyard if you have your heart set on it (and you’re very brave!).
The type of pool is important
If you want a pool that adds value to your home, you need to make sure that you choose the right pool. Inground pools are the way to go, because they look great and make for a much more pleasant experience overall. Above-ground pools don’t look half as good, are very limited in terms of styling options and could actually end up turning people off your home.
Given just how important aesthetics and first impressions are when it comes to valuation, consider opting for a more unique pool shape.
How much room does your backyard have?
Pools are highly sought-after in the Sunbelt, but this doesn’t mean that people want a backyard that’s 100% pool. If your backyard is a little on the smaller side, then consider a smaller pool so there’s still enough room for a lawn and flower beds. You could also consider something like a hot tub and economize on space even further.
Take a look around the neighborhood
If you live in a Sunbelt state, then there’s a good chance that a lot of homes in your neighborhood have a pool installed in their backyard. If this is the case, this could hurt the value of your home if you choose not to get one installed.
If the homes in your neighborhood don’t have pools installed, then choosing to forgo having a pool installed yourself won’t negatively impact the value of your home as much. With that said, if you do choose to install a pool, this will certainly boost your home’s value as you will stand out from the crowd!
Memphis Pool is the leading gunite pool builder in West Tennessee and beyond. If you would like to learn more about how one of our pools could add some serious value to your home, all you have to do is give us a call.
