By Dayv Morgan
As summer approaches and the weather warms up, the thought of having a backyard pool becomes more desirable.
But many people are hesitant to add one, thinking the cost is too great, and the return on investment will be too small when it’s time to sell.
In Maricopa, however, neither seems to be accurate. Most appraisers will say a pool adds $10,000 of value to a home.
In some parts of the Valley, pools are very common. Over the last month in Chandler, for example, almost 50 percent of the homes sold had a pool.
But in Maricopa, the number of properties with pools is quite low. Over the same 30-day period, only 22 of the 178 closed homes had pools (12.3 percent). Therefore, the added value is much higher than $10,000, often $25,000 or more in retail value.
So, what does it cost to keep cool?
A basic 80-foot perimeter pebble tec pool, with a maximum depth of 5 feet, should cost about $22,000, depending on the access to the yard. This means in most cases you will get at least a 100 percent return on investment.
If you add other pool features such as a waterfall, spa, in-floor cleaning system or heater, the price will jump quickly and the overall return for the pool investment will decline.
Another factor to consider is the “days on market” when you list your home for sale. Properties with pools tend to sell much faster than those without.
In the last month listings, Maricopa homes without pools took an average of 73 days to sell, while homes with pools sold almost twice as fast, in only 37 days.
Dayv Morgan is a Maricopa Realtor and owner of HomeSmart Success.
This column appears in the May issue of InMaricopa.