Need for Professionals in Appraisal Services

This illustration is for informational purposes only.

• Appraisers typically do not adjust for minor differences in GLA and lot size, as they are not reflected in the market. Adjustments should be based on the most recent comparable sales and may vary from year to year.
  
  
• Appraisers use various methods to support adjustments, though none are foolproof. These methods include paired sales analysis, group paired sales, sensitivity analysis, regression, cost approach, and income approach, each with its own strengths and limitations.
  
  
• Just as a home’s market value falls within a range, adjustments also fall within a range. It is up to the appraiser to determine the appropriate adjustment within that range. Due to this, appraisers typically round adjustments to the nearest $500 or $1,000, as it is not possible to make an adjustment to the exact dollar.

Price vs. Value: Understanding the Impact of an In-Ground Pool

Adding an in-ground pool to your property is an exciting investment, but it is important to understand the difference between its price and value. While the price represents your installation costs, the value reflects how much the pool adds to your property’s marketability and sale price.

The Price of an In-Ground Pool

The price of an in-ground pool includes all the costs associated with its installation. These typically include:

1. Excavation and Construction
   • Costs vary based on the pool’s size, shape, and materials, typically ranging from $30,000 to $100,000 or more.
     
     
2. Permits and Inspections
   • Local regulations often require permits and inspections, which can add several thousand dollars to the total.
     
     
3. Landscaping and Add-Ons
   • Features like patios, fencing, pool lighting, or custom designs can significantly increase your investment.

While the above items determine how much you spend, they don’t necessarily translate directly into added property value.

The Value of an In-Ground Pool

The value of an in-ground pool reflects how much the pool’s addition contributes to your property’s marketability and potential sale price. The pool’s value depends on the following:

1. Market Trends
   • The value of an in-ground pool adds to your home depends on several factors unique to the area. Long Island’s mix of suburban and coastal communities makes pools highly desirable in neighborhoods where outdoor living is a priority. A well-maintained pool with modern features – such as heating systems for extended seasonal use or elegant landscaping – can significantly enhance a property’s appeal. However, Long Island’s cooler climate and higher maintenance costs mean that not all buyers will see a pool as a must have feature. Additionally, the local real estate market plays a role: in communities where pools are common and valued, they boost your home’s worth, but in areas where they are less prevalent, the added value may be more limited.
     
     
2. Neighborhood Expectations
   • In upscale neighborhoods where pools are standard, having one can significantly enhance your property’s appeal and value.
     
     
   • In areas where pools are rare, they may not contribute as much value.
     
     
3. Buyer Preferences
   • Some buyers see a pool as a luxurious, desirable feature.
     
     

Others may view it as a costly maintenance responsibility, potentially lowering its appeal.