Does a Pool Really Add Value To Your Home?
And what should you consider before you take the plunge?
We all know that pools are a popular indulgence when it comes to property features.
In fact, Australia has the highest rate of swimming pools per capita in the world!
And let’s face it - when looking to buy a new home, it’s hard to beat the allure of a sparkling oasis in your own backyard… somewhere you can kick back on a hot day and watch the kids splash about.
So if you’re in the midst of searching for a new home, it’s understandable that this might just be the mod con that gets you over the line.
But if the shoe’s on the other foot, and you’re actually looking to sell - will a pool really add value to your final sale price?
While pool builders will usually tell you what you want to hear - that yes, a pool can add thousands - the more accurate answer is, well… it depends.
So before you take the plunge and start ploughing up the backyard, it pays to make sure that you’ve done your homework.
Here are a few things to weigh up.
Location.
The location of your home can actually be the biggest contributing factor to whether a pool will add value or not.
Is your home in a climate that’s conducive to swimming?
Warmer areas are the obvious winner when it comes to pool popularity, simply because they can be used for longer.
If the weather’s a little less welcoming, and the seasonal swim window is only a few months of the year, a pool can actually be seen a hassle.
Of course, you could always consider a heated or enclosed pool to get around these issues, but with the added convenience comes even higher construction costs.
Purchaser preference.
While young families and lifestyle buyers often love the idea of a pool, it’s less likely that an investor or retiree is going to be dazzled by such a high maintenance feature.
So pay attention to the local demographic and what type of buyers are potentially looking in your area.
If your neighbourhood is popular with families or higher-end purchasers, a pool could boost your property’s appeal.
But if it’s more likely that buyers will be looking to redevelop, renovate, or settle into retirement, it could make it harder to sell, as a pool can be seen as an inconvenience.
Installation & Maintenance Costs.
With costs varying greatly - between $25,000 and $100,000 - to have a pool put in, it pays to consider whether it really is worth it.
According to one report*, a pool can lift a property’s value by around 7% (on average) - but only when all factors are favourable.
So it pays to consider what your home is already worth before you decide to dive in - and whether you’re willing to take a hit if it doesn’t live up to the hype.
Not to mention the ongoing costs that come part and parcel with a pool package.
Along with regular chemical treatments, repairs and cleaning costs, bear in mind the significant impact owning a pool may have on your water use, electricity and insurance premiums.
And upkeep is super important, because if your pool slips into disrepair, it can actually have a detrimental effect on the ultimate selling price.
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If you still have your heart set on getting a pool despite the possible drawbacks, there are some things you can do to ensure your best shot at recouping the at least some - or all - of the cost when time comes to sell.
Opt for quality.
In-ground pools are a higher-ticket item than above-ground, so while they cost considerably more to install, it’s a good idea to consider spending the extra coin up front.
Make sure you choose a top-notch filtration system for easier upkeep, and when it comes to finishes, concrete is far and away the most popular - and luxurious - choice.
A pool is more likely to add value when a buyer can see you’ve invested in quality.
Keep it classic - and practical.
While an elaborate resort-style pool on a large allotment may work, keeping your pool design classic - and sized to suit - is the best way to ensure it doesn’t work against you at sale time.
If a pool takes up most of your valuable backyard space, or has a crazy design that only appeals to some, it could seriously impact your home’s value in the long run.
Style the surrounds.
The best way to increase the value of any home is to sell a dream - so if a pool looks unfinished or out of place, it will be to your detriment when selling.
To tackle this, invest in a modern pool fence and some lovely landscaping, and finish the space off by adding some paving, tiling or decking to make the area truly inviting. Maybe even add a shady shelter if space allows.
Because what buyer can resist the thought of capturing those relaxed summer holiday vibes - especially when they won’t have to leave home?
Turning the area into a visual feature is sure to help buyers imaginations - and their wallets - run wild.
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So, what’s the verdict? Should you get cracking and put in a pool?
The answer ultimately lies in what’s important to you.
If it’s simply a return on investment you’re looking for, make sure it’s based on sound judgement, because installation, upkeep and maintenance doesn’t come cheap.
But if it’s lifestyle miles you’re after, and you’re sure you’ll get plenty of use out of it, a pool can be a great investment that provides years of fun.
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Want to learn more about the best way to sell your home? We’re ready and waiting to answer all your questions!
If you’re just getting started, or looking for more valuable property selling tips, tricks and hints, check out these other handy articles on our blog:
× Which Real Estate Agent Is Right For You?
× Are All Renovations Created Equal?
× Are These 5 Real Estate Myths Holding You Back?
And for all the very best property sales or investing advice, why not connect with us - We Connect Property are your local property market specialists with over 21 years’ experience in buying, selling and managing property in southern Adelaide.
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DISCLAIMER: All recommendations made by We Connect Property are general in nature and not to be relied upon as legal or financial advice. To ensure accuracy, we always strongly recommend seeking independent, professional advice tailored to your specific situation before making any investment or financial decisions.
*HouseLogic Report - https://www.houselogic.com/by-room/yard-patio/what-to-consider-before-building-pool/