Adding pool, spa to home may not increase market value

Q: My husband and I moved to northwest Las Vegas in January. We live in a 3,000-square-foot D.R. Horton home (as far north on Durango Drive as one can go). Our backyard is about 40 by 75 feet. We are in the process of getting pool and spa installation costs. Since it is just the two of us, I am voting for getting a spa, one that will be partially buried in the ground with a nice deck around it, but I must admit a pool would be very attractive. (From our front door entrance, one can see through the living room windows out into the backyard).

We will only live here for four or five years, then will retire to another state. The spa will cost around $18,000, and the pool is around $30,000. We are told one should never expect to recoup money spent on pools. What is your opinion? -- Cynthia C., Las Vegas

A: It sounds like you've put a great deal of thought into this question and done at least a bit of homework. In general, I'd have to agree with the prevailing wisdom you mentioned about the value of adding a pool or spa to your home.

Most experts will warn you that you should not build a relatively expensive improvement like a pool or spa if your only motivation is to recoup that investment when you sell your home.

In most cases, I would suspect that your $18,000 or $30,000 investment in a spa or a pool will not necessarily add an equivalent amount to the price of your home when you sell it. So, don't take the plunge if you're banking on a dollar-for-dollar return on your investment.

That being said, a well-built pool or spa can greatly enhance the look or your yard. It will probably make your home more attractive, especially to potential buyers who want a pool or spa. It may also help your home stand out from similar homes in your neighborhood that don't have a pool or spa. In today's housing market, where buyers have more home choices than ever before, anything that makes your home more appealing to a majority of buyers is a factor.

So, if you and your husband really want to enjoy a pool or spa while you're living in this house, that's your choice. Only you and your family can determine the value of that enjoyment.

Devin Reiss is the president of the Greater Las Vegas Association of Realtors. To ask Reiss a question, e-mail him at ask@glvar.org. All questions to Reiss may be shortened and are subject to editing.