How Pools Affect the Value of Your Home
The benefits of pool installation usually go beyond the summer months. Adding a swimming pool to your home can improve your lifestyle as it promotes wellness, relaxation, entertainment, aesthetics, and even social development.
More importantly, pools affect the value of your home and you can’t disregard their monetary impact to any property. A home with a swimming pool is priced higher than ordinary homes and a home’s resale cost is much higher.
In this article, you will get acquainted with how pools affect the value of your home, as well as know some of the points that you must keep in mind before getting a pool installed in your property.
Swimming Pool as a Home Investment
Swimming pool has been a part of the Australian’s lifestyle. In fact, the country boasts approximately 1.2 million household swimming pools and is considered as the world’s highest in terms of per capita rate of pool ownership.
There are lots of reasons why a homeowner chooses to add a swimming pool to his property, and these may include but not limited to create a â€?staycation’ for the family, for aquatic therapy, to improve fitness, or to increase the value of their home.
These reasons are enticing, but there are also numerous points to consider to ensure that the swimming pool you’ll install can reward you with monetary gains.
Discover the Factors Affecting the Value of Pools
- Climate. Taking the climate as one of your considerations is a must. It is always best to build a pool in areas with a warm climate. Building a pool in a cool place is not the best idea especially if you are looking into cost-efficiency. .Aside from the fact that the use of these pools won’t be maximised, it will also come with extra costs as , homeowners have to spend a grand for heating. And when the property is ready for a resale, only a small part of those expenses will be recovered.
- Local Market. You should also check for the local market. Observe if the houses in your neighbourhood have pools installed in their backyard. There are instances where buyers would remove a house with pool off to their list, and you won’t recoup all the costs of your pool property.
- Kids and Teens. Also, it would be worthy to install a pool in suburbs with lots of kids and teens. It is usual for young people to look for some place to enjoy, and having a swimming pool in your home might satisfy the need to have a place for fun.
- Higher-end Neighbourhood. On the other hand, when you are living in an upscale neighbourhood, there’s a better chance of regaining all of your investments. Buyers aiming for a wealthy neighbourhood are more likely to look after the property’s state of being luxurious and elegant.
Before installing a pool in your property, there are factors that you have to take into consideration to ensure that your investment will bring profitable gains. But aside from the factors mentioned above, there are other aspects that can also determine how much value pools can add to your home, particularly the design you’ll choose for your pool.
Pool Designs and the Value they Bring to Your Home
Majority of the pool owners in Australia believe that adding a pool to a property would greatly affect the value of a home, depending on the size, style, and location. Usually, choosing the right pool design has an impact on how a swimming pool can affect the value of your home.
To enlighten you further, here are the types of pool designs that are suitable for various properties.
- Above-Ground Pools are less expensive and considered to be the cheapest option when trying to invest for a pool property. Vinyl liners can cost around $3,500 up to $6,500. Moreover, adding a timber deck will further the expenses for up to $1,500 to $2,000, which may vary if excavation will be required. However, above-ground pools have very little contribution regarding the increase your property’s value.
There are also chances where this type of pool deducts from your home value. The reason behind this would be above-ground pools are not affixed to the property, and can be reconstructed by the future owner.
- Adding an In-Ground Pool to your home can be highly expensive because prior to its installation, it needs excavation which greatly affects the cost of expenses. This pool have two common types, concrete and fibreglass pool.
Installing a concrete pool can cost up to an average of $50,000 to over $100,000. Moreover, fibreglass pool shells cost between $6,500 and $25,000. In-ground installation of fibreglass pools can cost between $25,000 up to $75,000 and can even go higher.
So how does an inground pool add value to a home? Concrete and fibreglass pools are most likely to add up to 5% value to your home, but may still vary. If your pool presents an outstanding landscape design or its style fits your property well, your in-ground pool investment might pay well once it’s the time to sell your home.
Conditions Affecting Swimming Pool Value
Overall Costs of Building a Pool
The cost to build a pool depends on which type of pool you prefer to include in your property. Additional enhancements such as safety fences, lighting, landscaping, water features, slides, jets, and spa pool can greatly boost the swimming pool value as well as your property’s value. However, all of these are equivalent to a grand price tag, consuming more of your budget for the pool installation.
Installing a pool ranges from $10,000 up to $50,000 depending of the pool type you are aiming for your property. That seems to be a big range, but to minimise costs and focus on aspects that bring greater gains, it is important to know which factors really affect your swimming pool value.
- Easy access to install your pool
- Ground and soil conditions
- Chosen size and shape of your pool
- Additional features to enhance the whole look of your pool
- The quality of the products you choose to build your pool
A pool does not end by just being an area for enjoyment purposes. There are times that adding a swimming pool to your home will increase your property’s monetary value, especially when important factors are taken into consideration. Though it is a great idea to have a swimming pool in your backyard, building a pool is still not the best way to boost up your home’s value.
In the long run, only the homeowner can determine the true reward of his pool investment. The value of improved quality of lifestyle and the smile on your family’s faces are the most deserved return of investment you can get from building a pool in your home.
Do you have any opinion regarding how swimming pools increase the value of your home? Share your thoughts by leaving them on the comment section below!