If you plan on selling your home in the not too distant future, you might be thinking about investing in a few home improvements. Certain home improvements can help increase the overall quality of life in your home as well as increase your home value. However, not all home improvements automatically increase the value of your property. Take the installation of a pool for instance. Installing a pool could help add value to your home, but it could also hurt the value. How it affects your property value is dependent on a variety of factors. It’s why you should consider the pros and cons of installing a pool:
The Benefits of Installing a Pool
If your home is located in a higher end neighborhood and all of the surrounding homes have pools, then adding a pool to your home is likely going to raise the value. Obviously, the climate you live in will have a big impact as well. Fortunately, here in the Charlotte area, summers can get quite hot and a pool will be a nice feature for owners to have.
The Drawbacks of Installing a Pool
First of all, a pool is expensive to install. If you’re looking for projects that will result in a high ROI, there are better home improvement options. Secondly, properties with pools make insurance more expensive due to the liability involved. Last, but not least, a pool can be very expensive to maintain.
Essentially, installing a pool makes sense if you already have an expensive house in a high-end neighborhood. Otherwise, the pool could turn away buyers who don’t want to deal with the expense involved with maintaining a pool and paying for increased insurance premiums. For more home selling tips in the Charlotte area, contact us at Randy Lindsay today.