Everyone loves the idea of a swimming pool but does it add monetary value to your home, especially when it’s time to sell?
The lifestyle benefits of a swimming pool are many – relaxation, entertainment, exercise, aesthetics, a social hub for the kids – but will it add value to your home?
It may seem ironic, but swimming pools are more often seen in seaside suburbs. In these areas, living on the water is a whole way of life to many, so the idea of a pool has value.
Swimming pools bring a lifestyle to your home
Installing a swimming pool in a cooler climate is generally not a good idea as it can only be used for a few months of the year. In some cases people have spent hundreds of thousands on heated indoor pools and haven’t been able to recover the outlay when they come to sell.
Before making a decision, look at the local market. Do most houses in your area have pools? If not, there may be a good reason. A pool may reduce your pool of potential buyers (pardon the pun) because those who don’t want a pool will cross you off their list. Those who do can always build one themselves. If it’s an upmarket area in a warm climate, however, having a pool may be an expectation.
Ask a real estate agent
Talk to a local real estate agent about how much extra a swimming pool may (or may not) be worth when you sell, before you outlay big money. Look at the potential costs and site constraints too.
A pool may be cost-effective if you have a level block with good access for machinery. If it’s a sloping site, rocky or has difficult access, the costs may outweigh the benefits.
If you are investing in a pool, you must be careful that it doesn’t dominate your outdoor space. The presentation and maintenance will go a long way to determining an asset when it comes time to sell.
To have young children a swimming pool can be worthwhile, as they tend to live in their swimmers for years. But when they’re teens, they’ll want to go to the beach with their mates.