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Updated almost 4 years ago,

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6
Votes |
10
Posts

Forced Appreciation with a Pool in Phoenix

Account Closed
Posted

BP Community - 

I'm a new investor and currently shopping for my first property in the Phoenix market. The goal for the first property is to make it a Short Term Rental. Based on the little experience I have, I'm starting to think that in order to maintain decent occupancy in the summer months I'm going to need to have a property with a pool. 

My question is, for any appraisers in the market, how much forced appreciation by adding a pool to a property in this market can I expect (in the event that I purchase a good deal on a property without a pool)? 

I'm aware that it won't be an even trade off, but I feel it will pay for itself after at most a few summers. That being said, I want to know how it will affect the value of the property when I eventually refi because the goal will be to get myself out of mortgage insurance after adding a pool (among other renovations).

Thanks in advance for sharing your expertise!

- Derek

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