Does Adding A Pool Add Value To A Home?

By: Sylvia Smith

Does Adding A Pool Add Value To A Home?

Tags:

POOL, HOME VALUE, SELLING FAMILY HOME, Vaughan REAL ESTATE, Vaughan REALTOR, MOVING, HOMES FOR SALE, TORONTO REAL ESTATE, 

There is nothing that compares to after a long hot sticky summer day being able to dive into a crystal–clear swimming pool. The calmness of a backyard pool is definitely a dream for many and a backyard with a pool eliminates the need for a cottage or taking long drives to go swimming in a lake. The image of having a pool feels very much like paradise.

Some home buyers may think that an in-ground pool is a definite bonus and may actually have a pool on their want list as they search for a new home. Other homebuyers may consider a home with a pool as a deal-breaker. So the answer if a pool adds value is it depends on a number of factors.  Since the pandemic homes will a pool has been in high demand but will this trend continue once the pandemic is behind us?

Before you install an in-ground pool there are many factors you should take into consideration.

Average Cost to Install a Pool 

Home Value, Pool, Vaughan Pools, Vaughan Realtor
 

Installing a pool is definitely not cheap; the average cost of installing an in-ground pool can range from $35,000 - $70,000. Don’t forget that you will probably have to install a fence around the pool to meet local by-laws and you will also want to add some landscaping. The costs can add up really quickly.
 

Cost of Swimming Pool Maintenance
 

Pool Maintenance

 In addition, there are ongoing costs to maintain a pool. It is estimated that the price range to maintain the average pool will range from $1,200 - $1,800 a year in just keeping the pool looking crystal clear. In addition, you will most likely hire a professional to open and close the pool which will probably cost about $500 per visit. Should you install a heated pool you will incur additional costs to keep the pool warm. A pool also adds additional liability so your home insurance may possibly cost a little more as well.
 

Does a Pool Add Value to A Home?

Home Value, Pools, Vaughan Realtor
 

If you’re weighing whether a pool will add value to your home getting an appraisal before you install the pool is a great idea. The appraisal will complete a comparison analysis of recent homes sold with and without a pool in your area to give you a sense of a pool would add value. Having this information will help you in making a decision to add or not add a pool. In addition, be aware that adding a pool may possibly limit the number of buyers that will eventually be interested in your home because there are buyers that see a pool as a liability.

However, under the right circumstances, a pool could possibly increase your home value by as much as 7 – 8 %. Whether a pool adds value or not will depend on a number of factors such as:
Having a pool is a lifestyle choice and your number one priority should not be on getting a return on your investment. A pool can greatly increase the enjoyment of your home for you and your family.

When the time comes to sell your home make sure to work with an experienced real estate agent that will help you make the most of your pool and attract buyers to your home that have the same vision you have of being able to decompress after a long day in their paradise backyard by taking a dive in their crystal clear swimming pool.