Saturday, September 29, 2007

An In-Ground Swimming Pool May Increase Your Property Value

For a long time, swimming pools were typically a liability rather than an asset when selling your house. This was because there were many more people who didn’t want a swimming pool than those who did. Swimming pool designs were often ugly and pools were a major headache to clean and maintain. But today, because of high-tech automated cleaning systems and beautiful and innovative designs this has changed. These days, a tasteful swimming pool is much more likely to add value to a property and make a house more desirable and easier to sell.

However, this is nearly exclusively true for in-ground pools and not above-ground ones. An above-ground pool is a temporary structure and adds very little, if any, to the value of a property like a stylish, permanent in-ground pool does.

An in-ground pool may add greatly to the resale value of your home. But unfortunately, this also means that it will add to the assessed value of your property, and consequently you’ll be asked to pay more property taxes. It’s a good idea to explore the property value and tax consequences of adding a pool before construction begins. If you know of any neighbors who have a pool, you may want to ask them about their experience.