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
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
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?
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:
- • on the demographics of your neighbourhood, if you live in a higher-end neighbourhood and most of your neighbours have pools
- • is your property large enough to accommodate a pool so that there is still room for landscaping and a garden
- • style of the pool needs to compliment your home and also needs to be well maintained
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.