Steve Heard (or anyone else with first-hand knowledge), in your experience selling homes in Folsom does a pool add any value to the home? I know in many instances it will deter a buyer. I bought my current home specifically wanting a pool without the expense of installing one. I am planning to sell in the next 4-5 years as I move towards retirement and downsizing. It's a single story, @ 1500 sq ft, 3/2, nicely upgraded. I was just wondering if you had a ballpark estimate on the percentage of buyers who want a pool, are neutral, or absolutely wouldn't want one. I'm just curious at the moment as I watch the real estate market in Folsom.
Does A Pool Add Or Detract From Value In Folsom?
#1
Posted 17 August 2016 - 05:01 PM
#2
Posted 17 August 2016 - 05:42 PM
#3
Posted 17 August 2016 - 05:58 PM
The rule is: Let your neighbors have the pool.
#4
Posted 17 August 2016 - 06:29 PM
why no love for pools?
#5
Posted 17 August 2016 - 06:35 PM
I agree 4thGen. I love my pool. I couldn't care less what it does or doesn't do to my value when I eventually sell my home. I live in the present, not in the future. And it does NOT cost a fortune to maintain a pool, if you know what you're doing.
But to answer the OP's question, *it depends*.
#6
Posted 17 August 2016 - 07:23 PM
why no love for pools?
They are similar to an RV or boat. You may use them a lot when the kids are younger but then they eventually just sit for the most part. You can sell a boat or RV pretty easily while the pool gets used 2-3 times a year and you pay $$$ to keep it looking pretty.
Our friends just spent $7k to re-surface their pool and I've never seen anyone use it. Total waste.
#7
Posted 17 August 2016 - 07:35 PM
#8
Posted 18 August 2016 - 10:52 AM
Sorry for the late reply.
As 2Aces said, 'it depends'.
I think in general, people who want pools value them, and usually expect to pay a little more for a house.
Looking at the last 300 sales in Folsom, excluding distressed properties (bank-owned, HUD owned short-sales), 192 did not have a pool. The average size was 2005 sq ft, and the average price per square foot was $244
86 had built-in pools, and they averaged 2752 square feet, and sold for $229 per square foot
Does this mean that homes without pools sell for more? No, it's more an indication that owners of larger homes are more likely to install pools, and smaller homes sell for more on a price-per-square-foot basis than larger ones do.
Looking at homes similar in size to yours, within 10% of 1500 sq ft, 3 bed 2 bath, there were 54 sold this year without pool, averaging $272 per square foot
Only 4 had built-in pools, and they ranged from $258 to $285 per foot, averaging $266 per.
Also note that smaller homes, particularly more modern ones, are typically on smaller lots and so quite often there is no room for a pool. I've seen homes with yards that were 'all pool', and they can be undesirable.
Additionally, smaller homes are often purchased by first timers, who aren't likely to expect to find a house with a pool in their price range.
Down-sizers, investors, parents with small kids, and the cost-conscious may find a pool to be undesirable.
There used to be an unwritten rule that a pool would increase the value of a home by 50% of the pool cost, so a $30,000 pool would increase your value by $15K.
I don't know how accurate that is, or ever was.
Bottom line is, when you are ready to sell, have your agent run the comps, tour some active listings, then consider how yours stacks up against the competition, and price accordingly.
Steve Heard
Folsom Real Estate Specialist
EXP Realty
BRE#01368503
Owner - MyFolsom.com
916 718 9577
#9
Posted 18 August 2016 - 12:41 PM
Thank you. That is great information. Although, not quite as promising as I was hoping. I'm not overly concerned with it adding value as I didn't go to the expense of putting the pool in. I do know it will limit the buyers, I just wasn't sure by how much. I actually did buy it with retirement in mind, but my plans are changing. I have thoroughly enjoyed my pool and although it does take up a good portion of my yard it's made things fairly low maintenance back there (I'm on a corner lot so it's not as small as some lots in the neighborhood). There is an elementary school across the street and a park a block away for kids to play so that could help (maybe?). My house is very pretty, well maintained, and upgraded just enough that I'm sure I will have interested buyers when the time comes. I'll continue to watch the market and see how things go and hope I get that right buyer who wants a pool and loves my house or loves the house and didn't know they wanted a pool until they saw it! :-)
#10
Posted 18 August 2016 - 12:46 PM
They are similar to an RV or boat. You may use them a lot when the kids are younger but then they eventually just sit for the most part. You can sell a boat or RV pretty easily while the pool gets used 2-3 times a year and you pay $$$ to keep it looking pretty.
Our friends just spent $7k to re-surface their pool and I've never seen anyone use it. Total waste.
I have no kids, but friends and family and their kids do come and use it. I have to say....even when I'm not swimming it is very relaxing sitting by the pool with the waterfalls going. My yard is my sanctuary. Maybe I just love water more than most so it doesn't seem like a waste for me! I see your point though and it will take the right buyer. I maintain it myself and it's really not all that costly in my opinion.
#11
Posted 18 August 2016 - 12:51 PM
I agree 4thGen. I love my pool. I couldn't care less what it does or doesn't do to my value when I eventually sell my home. I live in the present, not in the future. And it does NOT cost a fortune to maintain a pool, if you know what you're doing.
But to answer the OP's question, *it depends*.
I'm right there with you....love it and don't mind maintaining it at all. I actually find it therapeutic. It beats mowing a lawn and I prefer to look at a pool than a lawn. I had every intention of staying here throughout my retirement, but plans have changed. Otherwise, I would never think to ask about resale.
#12
Posted 18 August 2016 - 01:25 PM
I love our pool, though I constantly kick myself for not getting in it more... I usually only have time once or twice a week.
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