While this answer might surprise you it’s not a simple yes - it’s more of an "if you are lucky". Pools are great, we all have a moment in the heart of summer when we really wish we could walk out our back door and jump directly into a pool. The heat gets to us and we would give anything for a pool. BUT - you have to take time to think about the whole picture and not just that sparkling cool water you want to jump into. 

If you have the right situation you can make upwards of 7% more with a pool included in your home. Here are some of the ways the pool could actually make your home more valuable. 

• You live in a neighborhood that is higher end and most homes also have swimming pools

• The style of the pool fits with your home and neighborhood

• The pool does not take up your whole yard, leaving room for other things such as swing sets or room for other activities. 

• The pool has been kept up nicely and looks new

• You live in a climate where it can be used year round (looking at your florida, Hawaii and even places like Arizona and California to name a few)

• It’s been customized to also be an enclosed pool (just to piggyback off of the last one reason)

• You have buyers who want a pool

Outside of what it will add to the home, you have to think of the money you will spend to get the pool there and then what the upkeep is. For the pool to be installed you could be looking at anything from $25,000 - $35,000+ for the install. Then you have monthly expenses such as chemicals (which could range up to $100+) a month and seasonal expenses such as opening and shutting the pool. If you have someone coming out to open and close the pool it can cost $500+ each visit.

Overall the cost of the pool probably won’t be paid back in a monetary way, especially if you add up the monthly and seasonal costs and add it all in. The important thing to think of though, is that it adds value to your life and family if it is something you truly want. So if it’s important to you and you believe it adds depth to your life and the memories you can make in the home we say - DO IT!!

When buying or selling a home it can be difficult to navigate and pinpoint exactly what is included in your square footage. Most people would count attics and basements but that is not always the case. It is very dependent on how the home has been kept up and what upgrades have been done over the years. This means that two similar homes in the same neighborhood could have two incredibly different square footage. 

So what are the requirements to be counted as square footage? The space needs to have flooring, wallcovering, ceiling and the ability to be lived in 365 days a year. The last one is typically where things get a bit more confusing. This means that it needs to have windows and heat capability. The confusing thing is that staircases, pantries and closets can be counted as square footage - even though you can’t technically live in them. 

So when would a basement or attic become true square footage? The easy answer is that it has to meet the requirements on square footage. The more technical answer is that it is all based off of where you live and what your state decides to count as square footage. Attics must also need to be accessible by a conventional stairway. 

This also brings up the questions about whether or not a bedroom in the basement can be considered an actual bedroom when you pull up information on the home. Just because you can count your basement in the square footage (if your state guidelines allow) does not mean you automatically get to add in a basement bedroom. There will be requirements by state/city - like windows or being a walk in type basement - that would then allow you to count it as an extra room. 

While your real estate agent should be up to date on what counts as square footage and what doesn’t it never hurts to do your own research. Different areas can have different guidelines and you want to be as knowledgeable as possible. This will help you understand the different valuations of your home and allow you to ask the right questions.

• Appraised value is an evaluation of a property’s value based on a given point of time. It is the value that the interested buyers bank or mortgage company places on the property. 

• Assessed value determines the value of a residence for tax purposes and takes comparable home sales and inspections into consideration. It is the price placed on a home by the corresponding government municipality to calculate property taxes. Your assessed value will typically be less than the market value because they are only looking at a certain amount to tax you on (typically 80 - 90% of what your market value would be). 

• Market value is the most probable price that property should bring in a competitive and open market under all conditions requisite to a fair sale. In plain english it is the price that a buyer is willing to pay for a home, and a seller is willing to accept. 

As home buyers/owners and sellers it is important to know how these all fit into the value of your home. The lower end of the valuation should typically be the assessed value since it is only a percentage of what the home is worth. The appraised value may come in a little higher or lower than the market value but the final say on the value of your home is almost always the market value. It will more than likely end up being your purchase/selling price at the end of the day. These numbers will all come together to give you a fair price and allow you to feel comfortable in what you are selling/purchasing.