How Will a Swimming Pool Impact the Resale Value of Your Property?
One of the main things that draws people to Colorado is the wonderful climate and tons of opportunities to spend time enjoying the outdoors. Investing in a swimming pool might seem like luxury, but it may be a great addition that also adds some value to your home. Understanding the benefits of a swimming pool can help you understand if it’s the right investment for your family, and talking to a Denver pool contractor can give you great insight into the process, positives, and negatives of having a pool at your home.
Installing a swimming pool is a big decision that takes more than just summer fun into account. It’s important to look at all aspects of this investment, including market trends and other considerations, before taking the plunge on an investment that will drastically change your home. Depending on your personal lifestyle and long-term goals, be sure to understand all of the implications of this decision.
Colorado’s Climate & Pools
Colorado has a unique climate that plays a significant role in the desirability and usability of a swimming pool. The summers are warm, but it is common for temperatures to drop below freezing during the winter months. That makes for some seasonal advantages and limitations to having a pool at your home. While most people think of summertime when they think of relaxing by the pool, but it’s important to remember that many Colorado residents like to get out to the mountains and enjoy all of the nature that’s surrounding them. However, there is still some allure to the convenience of having a pool at home.
For obvious reasons, having a pool in the summer can be very appealing. The sun shines almost every day in Colorado, meaning the summer months can get quite warm – particularly in Denver, Boulder, and other areas across the Front range. This can be a very desirable feature for many families and individuals that are seeking outdoor leisure options that are closer to home during those warmer months. Winters can get harsh at a moment’s notice, meaning the pool will require winterization and additional upkeep to prevent freeze-related damage. Be sure to consider this before installing a pool, as this can bring about added costs and effort.
Regional Trends in Real Estate
Colorado is well known for having a spectacular and diverse geography, and this leads to a lot of variation in the housing markets. Based on the region, the impact a swimming pool can have on resale value can differ significantly. For example, metropolitan areas – like Denver, Boulder, or Colorado Springs – have a premium on lot sizes. This means that adding a pool may appeal to buyers as a rare luxury. With limited space, pools can sometimes feel cramped and reduce the usability of backyards for other activities.
However, in suburban areas like Highlands Ranch or Centennial, pools are much more common. Yards tend to be larger in the suburbs, and the cost of living is typically much lower than in the densely populated urban areas. A well-designed pool can significantly enhance your property appeal, especially in communities that are primarily family-oriented. Mountain homes, like those found in places like Aspen, Vail, or Breckenridge, typically don’t have pools as often. The colder climates focus on skiing and winter sports. A pool may not significantly boost your property value up in the mountains, but it can serve as a niche luxury feature for many of the high-end home found there.
Resale Value Considerations
No matter where you live, adding a swimming pool to your property in Colorado will likely be a major investment. Installation costs tens of thousands of dollars, or more. Whether this investment increases the resale value of your home depends on a variety of factors. One of the main factors is your return on investment (ROI). In Colorado, the ROI can vary depending on location and buyer demand, but national numbers show that pools typically increase the value of a home by up to eight percent. Compare the potential resale value of your home against the cost of installation and maintenance over time.
Another crucial consideration is the type of property and the neighborhood. A pool may increase the appeal of a property in upscale neighborhoods where pools are more common and align more closely with the expectations of the buyer. In mid-tier neighborhoods, potential buyers may be turned off by the expenses of maintenance or safety concerns. Pools require regular cleaning, chemical balancing, and upkeep of the equipment. Energy-efficient features like solar pool covers or pool heaters can mitigate some of these concerns, but that’s another cost up front. Pools also often appeal to families with children, giving a recreational feature that keeps the kids entertained in the summer.
Advantages of Adding a Pool
There are tons of advantages to having a pool that can make them attractive to specific buyers while potentially adding to the overall value of your property. A pool can transform a backyard into a family’s private oasis. Colorado residents typically love the outdoors, and this outdoor amenity can be especially appealing within that culture. Adding a well-designed pool to an area with landscaping, functional decks, and other entertainment spaces can make a backyard become a hub for social gatherings. This boosts the overall appeal of the home, and can add some value to the right clientele.
Putting in a pool can also set your property apart from the competition, particularly in a neighborhood where pools are rare. This exclusivity might attract buyers who prioritize leisure and luxury features. Depending on the neighborhood, this might also be a trendsetter that helps boost the overall impression of the entire area. For many luxury homes, a swimming pool is often seen as an essential amenity. In those cases, the swimming pool doesn’t just add value, but it also maintains the home’s competitive positioning in the real estate market. Remember, not all pools have to be an enormous, Olympic-sized hole in the ground. Working to get the right pool, with the right style, to match your home can do a lot to increase value in any neighborhood.
Potential Drawbacks of a Pool
Installation, maintenance, and energy costs can add up very quickly when putting in a personal swimming pool. Those high costs both up front and for ongoing maintenance can make some potential buyers hesitate. Some don’t want to take on these expenses, particularly if the pool lacks some energy-efficient features. Families with especially young children may view the pool as a safety hazard, especially if the proper safety features (like fencing or covers) are not in place. Addressing these concerns can also be viewed as an additional investment that growing families might not want to take on – as well as the potential risk.
Because Colorado’s winters can get cold, it can mean that pools are only usable for part of the year. Of course, some pools can be equipped with heating systems, but that’s another cost and more maintenance. Pools can also consume a significant portion of your home’s backyard, leaving less room for gardens, play areas, or other outdoor amenities. In heavily-populated urban areas, this can be a drawback because lots tend to be smaller.
How to Maximize Your Pool ROI
If you decide that you want a swimming pool on your property, there are some strategies that can be implemented in the planning phase to maximize its potential resale value. Choosing the right design is very important. Opt for a pool design that complements things already in place – like your home’s architecture and landscaping. This will help maximize usability. Features like an infinity edge, built-in seating, or even specifically integrated lighting can enhance aesthetic appeal surrounding the whole pool. Landscaping features like stone pathways and native plants can also create a luxurious environment – boosting the pools overall appeal.
Sustainability is a growing priority in Colorado, so consider energy-efficient pool features like solar heating, variable-speed pumps., and insulated covers. This will widen the scope for potential buyers when you sell the home, as it will appeal to buyers that are more eco-conscious. During this planning, make sure the area around the pool meets the proper safety standards. Implement secure fencing, covers, and alarms. These features can alleviate some buyers concerns and make it more appealing to families. When selling your property, be sure to emphasize the pool’s benefits in your marketing materials. Advertise it as an entertainment feature, a wellness amenity, or a luxurious escape to attract more buyers.
Installing a pool is a large and expensive undertaking, but it can deliver remarkable benefits while creating lasting memories. Be sure to talk to an experienced Denver pool contractor to find out if it’s right for your property, your family, and if it makes sense from a resale point of view. Gauge the demand in your area before making any big decisions. For more information, reach out to the experts at Integrity Pool Builders today.
