Does a Pool Add Value to a Home in Phoenix?
Although a swimming pool is often not a desirable feature for the common home buyer in Phoenix, on the high-end of real estate, above half a million dollars, it helps sell the Phoenix property fast. Concerns about safety and the money to maintain pools do not apply to the wealthy. Other buyers may not care one way or the other about owning a pool, but they do not want to pay much more money for a property just because it has one.
In addition to being influenced by the wealth of the buyer, location affects the desirability of a pool. In a hot state like Arizona, an in-ground pool adds about $25,000 to $30,000 to the property value. In cooler climates, a pool may have to be filled in and landscaped in order to get a house sold. If the home is located in the 6 Arizona cities where there is a large number of pools, then the pool is more acceptable.
Another factor is whether there is a community swimming pool available as an amenity to the property. Many buyers prefer that situation than having the responsibility of keeping up their own pool.
The age of the buyers is important. Those in middle age with teenage children are most apt to want a pool, while those with younger children may view it as a safety and liability issue. More recently pools have become part of the emphasis placed on backyard landscaping including natural settings, other water features, walkways, decks, and fencing.
How nice the pool looks, whether it is inground or above, how it has been landscaped, whether it has algae and mildew in it, cracks in some tiles, sparkling clean water or cloudy, clean filters, stains, calcium buildup, its age, leaks or loud noises are all part of whether a pool is a benefit or a deterrent to a home sale. Even if the buyer does not notice all the details, a home inspector may list them.
One way to determine whether a pool adds value in a neighborhood is to have a realtor run comps on the area on prices of homes that sold with pools versus those that sold without. The National Association of Realtors® statistics show pools add about 7.7 percent to the average value, but over 11 percent to Southwest U.S. homes.