Does a pool add vaule? | Albuquerque, NM

Question

I've come across a house that I am contemplating a rehab and sell.  The home is actually located in nearby Rio Rancho. The area is ok. The pool is not. New liner and equipment required (approx. $6k). My question is: do you think a pool adds vaule in the ABQ area? My realtor says, "not really and can be a real trick to sell". I want to lean on her expertise but would also love to hear alternate opinions.  We are not taking super high end home or neighborhood. This is a 1700 sq ft 3/2 that would list for near $150k. Thanks for the input.

Paul Falardeau · Answer

@Cameron Kloster @Lydia S. - I can't recall the entire process the contractors told me, but it starts with punching holes in the bottom so there will be proper drainage.  I believe they use different types of fill then tamp it down.  Any concrete that comes out of the hole does not get used for fill, because there can be voids that over time can cause sinking in the ground.

Chris Stone · Answer

Unless the home is a great deal otherwise, I would pass on the pool home. Money can be made in Rio Rancho, but there is so much inventory. You have to watch every penny. I'm a Realtor (and investor) and I disagree that Realtors can't form a good value opinion. Appraisers mostly provide values for banks. They have little leeway to value what makes some homes fly off the market and some sit. An active informed realtor will know what the competition is and what will sell in a particular neighborhood.

Lydia S. · Answer

@Easton G.

As one who is currently house hunting in Albuquerque, I can tell you that as much as the fantasy of having a home with a pool sounds great, my husband and I won't even look at a house that has one.

Just because we don't want one doesn't mean there isn't a market for them.  Perhaps if/when you go to sell this property, really use the pool as a selling feature to reach those who would love a pool!!

Lydia S. · Answer

@Paul Falardeau

I'm also curious what 'filling in a pool ' entails.  Dirt? Concrete?

And compared to removal... Is that ever done?

Paul Falardeau · Answer

@Easton G. I think I may know the house you are referring to.  My partner and I looked at it also.  We decided not to go with that house, because in our opinion there were too many questionable things that will drive up the costs really quick.

I don't think in Rio Rancho a pool is a selling point.  Like @Rick Davis said the sand, dust, tumbleweeds, and trash blowing in from the neighborhood would make keeping a pool up too much trouble.

FYI, filling in a pool will cost between $8500-$10K.   If this is the house I'm thinking of, backyard access shouldn't be too much of a problem, so it is likely to be on the lower end of that estimate.

Good luck!

Rick Davis · Answer

A pool in Rio Rancho is a huge PITA. With the dust/sandstorms that we get and the cold nights it is just not worth it.

A quick rule for pools is that the more likely the home owner is going to do the maintenance the less likely a pool is to add value. So a community pool is actually more attractive to a mid-price home than a private pool. A pool may add some value to a very high end home.

Good luck!

Sean Cole · Answer

I'd reach out to an appraiser rather than relying on a realtor (this is coming from a realtor) because too many don't have a clue...An appraiser has the training to actually determine the value-add from any specific feature of a house, where most real estate agents go off of feel.  Beyond that, pools in Cincinnati (where I am) are much more subdivision dependent than city-wide.  Some aerial photographs will show pools in almost every yard and others can't be found.

Michael Hong · Answer

not sure about NM but what I've seen are some upgrades and additions help sell the home for more money and some upgrades and additions help sell home quicker or appeal to a broader or more specific buyer pool. I would definitely consult your realtor or a few if u haven't signed a contract with one yet.