If you're thinking about adding a pool to your home, carefully evaluate your reason for taking the action. If you think that a pool will add value to your home, check with a local appraiser first.

Many people think that any improvement they make to their home will result in the value of the home increasing by that amount. In some cases, you do get almost a dollar-for-dollar return. But in the case of pools, you'll get only a fraction of the cost of installation.

If you're considering adding a pool, chances are that you and your family love the water, love to swim and expect to spend many happy hours both in the pool and at poolside. You probably envision pool parties and barbecues, all with the family pool at the center of the activities.

Pools can be great for families with teenagers. Especially if you've worried about your teens running with the wrong crowd, there's nothing like the lure of a crystal blue pool to entice them to stay home. They'll usually have friends along, but at least parents can keep a closer eye on them. That's important and may in itself be enough to warrant the cost of the pool.

Pools are also a great way to get exercise. Unlike running or jogging, there's no impact on knees and ankles so you don't have to worry about undue damage. There are other healthy benefits to using swimming as an exercise routine.

All these are excellent reasons to install a pool, but remember that the reasons you are considering a pool may are not shared by everyone. To some people, pools in the backyard are nothing more than a liability.

The point of an appraisal is to arrive at a market value for your house and property. Since not everyone will be excited about a pool, the market value for homes with pools - even inground pools - isn't significantly higher than the market value for homes without pools. That means that the value of your home isn't going to increase nearly as much as the cost of installing a pool.

So should you skip the pool? If your family will enjoy the pool and you can afford it, go for it. The hours of enjoyment you're likely to get from the pool is invaluable.