So, you’ve saved money because you’re working from home. Your increasing home value might mean even more cash for backyard renovations. The ads for pool construction are showing up in the mail. Well, summer is nearly here, and it’s getting hot.
Geez, what more incentive do you need?
Here’s even more: Today, a house with an inground pool in Dallas-Fort Worth would sell for an estimated $30,829 more on average, according to a report by San Francisco-based HomeLight. Before COVID-19, the cost would be an average of $22,258.
Nationally, a house with an inground pool would bring an average of $27,199 more than a house without one. Pre-COVID-19, the same house with an inground pool would sell for an average of $16,137 more.
In the case of D/FW, it would be an investment. Without question, pools in North Texas are popular. Anyone who has flown over Dallas and looked out the passenger windows has seen the thousands of aqua-colored pools behind houses.
How much has the estimated value of backyard swimming pool increased since COVID hit?
An ImproveNet study found that most homeowners in Dallas spend between $7,400 and $10,500 to install a pool. Dallas also ranked first in new pool construction in Texas with 477 new permits in April, according to Home Builders Weekly, which tracks permits. Tarrant County had 131 new permits, the highest concentration of new pool construction activity.
The joy-killing part of this is the reminder that pools come with a cost. HomeAdvisor found that upkeep, repair, and utilities can cost $3,000 to $5,000 a year. Also, a pool can be viewed by buyers as a liability and costly to maintain.
“It seems like I’ve had a pool spoil more potential deals than help them,” said Rusty Hall, a real estate agent for Century 21 Judge Fite in Fort Worth. “They can be a lot of work, and they are a significant year-round ongoing expense.
“But in general, they can add value to a home, but not what a lot of people expect them to add. For example, if you add a $70K to $80K pool, you’ll get about a $15K to $20K bump on your market value, maybe. A big maybe. However, at a certain level — $1 million and more — a house is sometimes expected to have a pool and the lack of one will turn people away.”
The HomeLight report, which polled 1,378 agents across the U.S., cites the resurgence of pool popularity as a result of the pandemic protocols. Homeowners with pools have been the envy of the neighborhood because of the COVID-prompted closures of private and public pools.
Agents surveyed in the report said pool additions are expected to soar again in spring and summer 2021.
So, for those who are pool-less, don’t throw out all those pool construction ads yet. They could come in handy.
