Be Careful Financially If You Want to Install a Pool This Summer

So you’d like to go for a dip on your own property. PennyGem’s Justin Kircher takes a look at what installing a pool does to the value of your home.

Transcript

00:00so you'd like to go for a dip on your own property here's a look at what installing a pool does to

00:09the value of your home getting a pool was a big moment in christmas vacation with this bonus check

00:14i'm putting in a swimming pool but the expensive project might not do much for your property value

00:21okay it's likely a better investment than the jelly of the month club but with an average cost

00:26of around 28 grand for installing an in-ground pool according to home advisor you might not see a

00:31return hgtv says an average 14 by 28 foot in-ground pool can add five to eight percent to the value

00:37of a home but with the cost your property value will already need to be north of 550 000 for it to

00:43really pay off according to redfin it does matter where you live as hot weather areas like california

00:49texas and florida unsurprisingly see the home value go up however the outlet found that a pool in

00:54colder climates like boston for example can actually detract from the property value of course once a

01:00pool is installed the costs do keep coming as home advisor says the price tag for utilities and

01:05maintenance can range from 500 to 4 000 each year there's also the matter of insurance with fox

01:11business saying that the insurance information institute recommends adding 300 to 500 000 more

01:17to your liability coverage

01:18you