By Dayv Morgan
As summer hits 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.
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. Therefore, most appraisers will say a pool only adds about $10,000 of value to a home.
But in the Maricopa market during the past month, 48 of the 196 closed homes had pools (24.4 percent), and the retail price of these homes is $25,000 or more above the same floorplan without a pool.
Currently the number of properties with pools is growing, meaning many of the pools are new. In the first five months of this year, the city issued 88 permits for residential pools
If you are hoping to have a pool in time to beat the summer heat, get started now. The whole process could take up to eight weeks – two to three weeks for permitting and five to six weeks for construction.
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 $25,000, depending on the access to the yard. This means in most cases you will get at least a 100 percent return on your 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 benefit 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, Maricopa homes without pools took an average of 81 days to sell, while homes with a backyard pool sold a month faster, in only 53 days.
Dayv Morgan is a Maricopa Realtor and owner of HomeSmart Success.
This column appears in the July issue of InMaricopa.