How much does having an in ground pool effect resale value in Florida?
We have an old fibreglass pool that needs resurfacing, this will also effect the deck which will need to be redone. We are debating doing the pool or removing it completely but want to decide how best to spend our money. Most homes in our neighborhood have pools but we personally rarely use it since the kids are grown . Thanks for advice
(0) | asked by: pamela stephen | share | 17 months ago | Report
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A fiberglass in-ground pool will definitely boost demand and an appraiser will give as much as $10k extra value for an in-ground fiberglass pool. If the costs to repair is less than $10k then it would be wise to invest the money to prepare your house for sale.
You definitely need to do something or a potential buyer will use it as a way to get you to reduce the price you are asking for. Get quotes for fixing it up and removing, take this to the Realtor you would like to use to list the property so they can best advise you on what to do.
Hi generally pools do not add much value to the home unless this is something the buyer wants. You will not recoup your invest in resurfacing the pool and deck. However it does help to show the property if the pool is on good shape.
If you email me your address I will pull comps in the area some with a pool and some without. That way you will see exactly the effect of having a pool. Or go to my web site and click on Home Valuation, fill out the from and in the notes tell me about this post and Ill know to pull both. Every location is slightly different. Some locations having a pool can have a negative effect. There is a subdivision over in Palm Harbor by East Lake that a pool will have a negative effect. Some locations the pool does not affect value as much as it affects market times. The home may sell faster. And in some locations a pool will had substantial values. However without know the address and be able to look at the location aspects no one can really answer your question. I see you are asking about Clearwater. I am in Clearwater, Countryside to be exact and I know Clearwater
The value of your property will be determined on location and how well kept your home has been maintained. Keep this in mind when you are deciding which is best. Keep the pool or not.
Get estimates on the resurfacing and deck upgrade. Then ask an experienced RE/MAX agent in Clearwater to show you comparable properties and their prices. I agree with many other comments. If it isn't fixed, it will detract from the sale price. You may be between a rock and a hard place.
answer by pamela stephen
I have this very question. Lori Moses response "If the pool is fiberglass and in bad condition it will cost you $1800 to resurface it" is way off. We have had several estimate to resurface our fiberglass pool (about 17'x40', 3-9 feet deep) from $6500 to $10,000+ and that does not include doing the deck around the pool . But after doing this it should look new even though it will be an old pool so does the age of the pool still come into it if the condition ends up looking goood?
a newer in ground gunite pool which is a well maintained beautiful pool with paver deck, lanai screened in, adds to value, a pool which needs maintenance and updated may detract potential buyers. Generally a pool adds $15,000 to $25,000 sale price, (ask an appraiser for amounts utilized) do not expect to receive over this amount when selling your home. you will receive when selling.
Pamela, Try not to remodel more that 10% of your home worth. Anything over 10% would be considered an over improvement.
Hi Pamela, Not including new luxury pool packages and in ground pool will usually add $8,000-12,000 in appraised value. A fiberglass pool is less. In poor condition it's an expense, BUT the cost of removing and impact on the lot, resale and insurance costs could be a bigger expense and/or loss to you sale. Get quotes and see whether it's better to do, or have estimates ready for Buyers, so it can be negotiated price wise.
Hi Pamela, Not including new luxury pool packages and in ground pool will usually add $8,000-12,000 in appraised value. A fiberglass pool is less. In poor condition it's an expense, BUT the cost of removing and impact on the lot, resale and insurance costs could be a bigger expense and/or loss to you sale. Get quotes and see whether it's better to do or have estimates for Buyers so it can be negotiated price wise.
Hi Pamela, generally pools do not add much value to the home unless this is something the buyer wants. You will not recoup your invest into resurfacing the pool and deck.
Old fiberglass shoukd be removed. In poor condition it is a detractor.
In good working condition...depending on upgrades it adds $15k to $35k. Of course there are exceptions in luxury and executive homes
An inground pool in poor maintenance is not desirable and will significantly detract from your homes value, as you're selling a maintenance problem rather than an amenity. If most of the homes in your subdivision you will be the anomaly without a pool. With that being noted, for lenders this is becoming a problem as once a pool is filled in it can affect the ability of the lender to sell the loan to servicing companies. I can't say that all lenders care about this. It is a question that is asked on the disclosure. It's always better to be safe than sorry... I recommend repairing the pool and deck.
In ground pools do tend to add anywhere from $5000 to $10000 to the price that a buyer is willing to pay. The mitigating factors are condition and design. Having worked with 100's of buyers, I can tell you that a pool design where the edge of the pool is less than 3 feet from the house is actually a big negative. If your pool installation is like this, it would be better to remove it. If the pool design is good, then it's worth putting the pool and deck in good condition. As Lori asked, photos would be helpful to give better advice.
Concrete/Granite pools att $10K to the appraisal of the home if in good condition. If the pool is fiberglass and in bad condition it will cost you $1800 to resurface it. Not sure how big your deck is. Can you send pictures
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