Ah, sweet summer. If you’re anything like us, you’ve officially hit the part of winter where you are craving sunshine, water and warmth. You may even be toying with the idea of adding a pool to your backyard so you can truly enjoy the upcoming summer without having to leave the comfort of your home. Adding an in ground swimming pool is no small task and definitely not a cheap one. In fact, research shows that, on average, adding an in ground pool to your home can cost you about $48,000- and that is just for the pool. Before you take the plunge 😉 there are a few things to consider-
Your neighborhood demographics.
If you live in a “higher end” or “upscale” neighborhood, adding a pool could provide you with the ROI you would hope to see off such a large scale renovation/addition. Experts say that adding a pool won’t add more than 10% in value to your home once completed so, based on the $48,000 figure above, if your home is appraises for less than $480,000 adding a pool may not be the most financially sound investment you can make in your home. Do any of your neighbors have pools? If you are the odd man out and don’t have a pool, this could put you at a disadvantage when you go to sell down the road. If something is seen as a neighborhood staple, adding one to stay competitive down the road is definitely something to give weight to.
The idea of a pool may seem grand but how often will you actually use it? Do you plan on being the summertime hang spot for friends and family? If you live somewhere with short, mild summers the amount of times that you use your pool probably won’t justify the expense of adding the pool. If you live somewhere where summers are little longer, maybe a little hotter (looking at you, Florida) then you will probably use your pool more months out of the year than not.
Unfortunately, adding a pool is not a one and done kind of situation and pool maintenance can get costly, even if you choose to do so yourself. Maintaining your pool can cost, on average, $122/month. Keep in mind that you can expect to see an increase in your monthly utility bills as well.
Ultimately, adding a pool to your home is not a decision to be taken lightly. There are a variety of factors that you will need to weigh before diving in and hiring a contractor. Considering Michigan weather, you may be more inclined to add a hot tub to you home.