Warmer temperatures in Tennessee can inspire. Today, they might have been the catalyst for a discussion in our Smyrna Bob Parks Realty office about the value of a swimming pool. My question was whether or not appraisers have a little black book that identifies how much specific upgrades add to the value of a home.

For example, can granite counters add $2,000 in value to a home over laminate counters? Do hardwood floors add $10,000 over carpet? What’s the difference in the value of a one-car garage vs. a two-car garage? And how about them swimming pools?

One Realtor who took an appraisal class several years ago said - at the time - unless 75 percent of the homes in a given subdivision or neighborhood have pools, your pool will have no value. Zero. Zip. Nada. Our broker verified that when he sold his last home, he didn’t get one penny for the concrete pond. Another agent explained that if an upgrade could be gone in 30 years (for example a privacy fence can fall down), it adds no value to the home.

However, the bottom line is that an appraisal is still just an opinion. Another appraiser may say something completely different. I’m going to go find me one of those little black books because it would be great to have while negotiating contracts!

Posted By: Kathy Tyson

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