How much value does a pool add to a Denver home?
Posted by Mic Ortega on Thursday, July 26th, 2012 at 1:49pm.
I got to wondering this because I just put on the market a fabulous home in Castle Rock with one of the nicest pools I’ve seen in a long time. The house sits at the top of a hill and from the pool, you have stunning mountain and canyon views and more blue sky than you could ever imagine. To check it out, click here.
After speaking with the owners about it and finding out how little work and money it actually is to keep it running, it seems like the perceived notion of a pool in Colorado being a money pit might not be that accurate. And with so many days of sunshine and hot weather, especially this summer, they definitely get their money out of it.
To try to answer my question, I looked at all the homes in the Denver Metro area currently for sale under a million dollars that have private pools. I was surprised to see there are currently 109 for sale. There are 53 under contract and a whopping 261 have sold in the past year.
I could try to read deeper into these numbers and with enough calculations and spreadsheets, could probably come up with a value. But without speaking with the buyers for these sold homes to see how much the pool weighed into their decision to buy, it would be very difficult to truly understand the value a pool brings to a Denver home.
What it seems like from most buyers I have asked about it, a pool is a nice perk as long as it is in good shape and doesn’t need a lot of work. If they were deciding between a house with a pool and one without, for a similar price they would take the house with a pool. But if it was priced significantly higher than the one without a pool, they would more than likely save the money and not offer on the house with the pool.
So unfortunately, I don’t know if I can put a number or value on it other than to say it is a nice perk. If you were to build a pool and then try to sell would you get your money back? No, but if you plan to use it and enjoy it for years to come, then why not? Some future buyer may fall in love with it and you get to enjoy for as long as you are there.
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