Value is defined as the importance, worth or usefulness of something; to estimate the monetary worth of something. When the subject is a home, and what adds value to it, then breaking it down into its most common denominator is necessary.
A family looking for a home decides that it has enough space, that there is room to expand perhaps, and that the home would be handy for entertaining guests. Adding a pool to the mix greatly improves the form and functionality of a home. Below, we’ll explain why there are few home renovations or additions that add more value than a swimming pool.
Pay Attention To The Area
Both HGTV and Better Homes and Gardens agree that homeowners make an error in adding a pool when the area or region is not supportive of pools. Homeowners living in hot humid climates and with pools all around them will benefit from the addition of a pool – but would you install a swimming pool in Alaska? In warmer climates not only will a pool be cool and fun on a hot summer day, but it will be worth something to the next buyer.
Those living in areas not so warm and muggy would only benefit from the addition of a pool if the neighbors had one – a phenomenon known as the ‘social proof’ effect. Regardless, the National Association of Realtors, or NAR, reports that pools add 7.7 percent to the average property value. The figure jumps to 11 percent for hot humid areas, so if you’re in a humid area, installing a pool might be a worthwhile expenditure.
Outdoor Renovations Are A Hot Trend
The outdoors has made a comeback whose scope is unbelievable. The popularity of outdoor rooms, c