Has anyone flipped a house with an indoor pool?

Question

I am in the Chicago area and am looking at a house with an indoor pool. Not an area that pools are common, even outdoor. It is not particularly high end like you might expect. It's a regular house in a regular subdivision with a pool room added on to the back. It is in good shape and pretty nice looking. Jacuzzi too.

I would be hoping for an ARV the same as the same house without a pool. So I am not expecting any added value. Just not sure if it is going to subtract value because of the added costs of a pool.

Brie Schmidt · Answer

Ahh, ok.  There was a property with an indoor pool in Edgebrook that just sold at auction recently.  I was wondering if that was the one you were talking about

Eric M. · Answer

Not sure what you mean. This property is a SS in Rolling Meadows on Millstone.

Brie Schmidt · Answer

Did you buy the Landers property?

Jonathan R McLaughlin · Answer

@Eric M. My gut is it subtracts value fairly significantly if u are I. Any kind of mainstream buyer market. Pretty specific amenity that not everyone—in fact next to no one—is looking for. I love the idea of converting to living space and hope you can update us

Will Barnard · Answer

I did one here in CA and I demolished the pool to gain interior usable space creating a large master suite and family room. I don’t think indoor pools will be a good idea unless it is some multi million dollar estate or those expensive deals in NY city.

I had to remove the bottom of the pool to allow drainage and then back filled with approved soil with compaction reports and geologist oversight and stamped approvals. The expense vs the gain was well worth it. I don’t know your area but I would guess you would have more of a detriment with it than without it.

I may still have some photos of that home, if I find them, I will post here.

Steve M. · Answer

To add some clarity, covering this pool simply involved lagging some boards around the inside edge of the pool to carry the new joists, the boards were held down the height of the board plus plywood, meeting the edge of the concrete.  They also provided an access, to the pool area via a trap door..

Nancy DeSocio · Answer

Hi @Eric M., this is an interesting post, and I'm interested to see how others respond.  I think it's fair to say that most people would rather have more living space than an indoor pool. I haven't found any overwhelming evidence that pools increase the resale value of a property, so I wouldn't expect the value to be much lower if you removed it.  However, the cost of removing it or covering it or whatever other option there is will impact your analysis/budget of the renovation, so that might sway your decision one way or another.  Good luck!

Steve M. · Answer

I'm new to learning about REI, however I'm pretty experienced in the construction side of things.  Someone I know who rehabs homes actually abandoned an indoor pool, placing a false floor over it, and simply expanded the living space.  I don't know if he knocked out the drain or placed a sump pit in it to keep it from filling up however.  I don't believe that an indoor pool is really very desirable, I don't even think most people want an outdoor pool?