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Old 04-18-2012, 12:01 PM
 
1,232 posts, read 2,919,857 times
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I and the appraisers I knew usually applied $10k for the usual pool. That's based on comparing homes with and without pools and viewing what premium they command in the marketplace. I think $10k was/is pretty standard for most appraisers to use, though in reality it could vary by neighborhood and other factors. A high-$$ house with a fancy pool, it'd be more. There might be retirement neighborhoods where it commands no added value, due to many buyers not wanting one.

Most of the things we buy for our houses don't pay back 100% on resale. Very few do. You have to factor in the value you get from the enjoyment of the item while it's your's. If every home improvement paid back 100% on resale, the rational thing for all homeowners to do would be to load their house up with every possible improvement that you think you might enjoy. Then you'd get use of it 'free' (ignoring time value of money).
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Old 04-18-2012, 12:09 PM
 
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I have been on both ends of this dilemma. Bought a house and built a pool. It only added about $7k to the value, and that was only valued by the approx 50% who wanted a pool. This time around we bought a house that already had a pool, and the increase in value was negligible, as it is in a retirement community that has many indoor and outdoor pools for residents use.

For us, it definitely falls under the heading of Landscape Feature. We do enjoy a cool soak in the pool, but love having it as a feature
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Old 04-18-2012, 12:22 PM
 
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unless it is in new condition, it will decrease the value.
Park Your Pool - Phoenix, Arizona Pool Custom Decks Built Over Your Pool - Pool Conversion Company
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Old 04-18-2012, 01:09 PM
 
2,412 posts, read 4,914,686 times
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This discussion seems pretty arbitrary. If you buy a house for 100k and then put a 20k pool in, can you sell the house for 120k? Who knows.
However, if you buy a house at a good price in a good neighborhood, that needs a little tlc, clean it up, add a pool or clean the existing pool up, I bet you will see the benefits price wise.
I've watched one owner/agent/rehabber in the west valley since January sell almost 20 of his properties at a nice profit and every one had a pool. I don't think he even considers homes without them because he's "selling the dream." The pool is not the only reason they sell (fast too) but they help paint the picture.
We may not be able to say dollar for dollar that something pays off, but as part of a whole picture a pool carries a lot of weight. Look at granite and stainless steel appliances: if you have them, that's one thing a buyer can't use against you as a seller.
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Old 04-18-2012, 03:16 PM
 
17,840 posts, read 39,620,285 times
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I would never put in a pool as part of "fixing up" a house for sale. If it has one, fine. First, I don't think you will get the money back in the sale price or make money on that like you will with paint or carpet or kitchen or bathroom tweaking, and there are people out there who don't want a pool.

If a buyer doesn't like the paint color on the walls but really likes the house otherwise, the paint's not a deal breaker. The pool, if they don't want one, will be-- and if you spent a lot of money to put one in, that's not good.
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Old 04-18-2012, 03:38 PM
 
168 posts, read 420,008 times
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Quote:
Originally Posted by goatboy 1 View Post
Pools = money pit
I wouldn't even consider living here in AZ without our "money pit." Especially with kids. Keeping them entertained in this heat all summer would be miserable without a backyard pool. And we adults enjoy having a frosty beverage by the pool in the evening. For us, it's 100% worth the expense. We don't consider it a money pit at all.
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Old 04-18-2012, 03:42 PM
 
17,840 posts, read 39,620,285 times
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Quote:
Originally Posted by PhinsFan1 View Post
I wouldn't even consider living here in AZ without our "money pit." Especially with kids. Keeping them entertained in this heat all summer would be miserable without a backyard pool. And we adults enjoy having a frosty beverage by the pool in the evening. For us, it's 100% worth the expense. We don't consider it a money pit at all.

There's no right or wrong here-- we've had the pool or no pool discussions on other threads before. Here, the topic is monetary value.
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Old 04-18-2012, 04:02 PM
 
2,412 posts, read 4,914,686 times
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Quote:
Originally Posted by observer53 View Post
I would never put in a pool as part of "fixing up" a house for sale. If it has one, fine. First, I don't think you will get the money back in the sale price or make money on that like you will with paint or carpet or kitchen or bathroom tweaking, and there are people out there who don't want a pool.

If a buyer doesn't like the paint color on the walls but really likes the house otherwise, the paint's not a deal breaker. The pool, if they don't want one, will be-- and if you spent a lot of money to put one in, that's not good.
Totally depends on the neighborhood, prices of surrounding houses, etc. If we are talking about rehabbing a higher end house bought at a great price ... as compared to buying a 100k house among other 100k houses on small lots, then I would not be looking for a return.
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Old 04-18-2012, 08:16 PM
 
Location: State of Superior
8,730 posts, read 14,863,055 times
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Quote:
Originally Posted by fdkirkland View Post
Pool= money pit
Boat, plane, classic car, motor home, choose your pit and start tossing it in.
You bet! I have done them all, having a ball !! Remember, we only get one shot, thats why we have bucket lists.
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Old 04-19-2012, 04:39 AM
 
7,304 posts, read 8,731,334 times
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Quote:
Originally Posted by darstar View Post
You bet! I have done them all, having a ball !! Remember, we only get one shot, thats why we have bucket lists.
Agreed. If you live your live exclusively based off of "return on investment", you would never take vacations, eat at restaurants, buy a 4 wheeler or snowmobile etc. For me, that would be living a boring life.
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