Is there a more luxurious property feature than a backyard pool? Not only does a swimming pool seriously enhance your lifestyle, if the time comes to sell, it can be the X-factor that makes your property stand out on the market and could potentially add a few dollars to the sales price.
Whether or not a swimming pool adds value to your home will depend on a number of factors, including the type of pool, the type of property, and the type of buyer. It should also be noted that swimming pools cost money to install and maintain, so to truly add value these costs must be lower than the value the pool adds to your property.
In this article we’ll take a closer look at the factors at play, to understand whether a pool represents a wise investment for you.
Does a swimming pool add value to a house?
There’s no single, simple answer to the question of whether a swimming pool will increase the value of your property. There are many situations where it absolutely will, such as:
- In warmer climates where a swimming pool can be used for more of the year.
- When swimming pools are a common feature in a neighbourhood.
- When your backyard has enough room to comfortably fit a pool.
- When your target buyer is more affluent.
On the flipside, there are a few situations in which a pool may not add to the value of a property, or worse, reduce the value:
- When the pool is old and in need of maintenance or repair.
- When the target market is first home buyers, singles or young families.
- When the backyard is too small to comfortably fit the pool.
- When a cool local climate limits the opportunities to use the pool.
For this reason many Aussie real estate agents view pools as value neutral, because while many buyers view them as a big selling point, a lot of other buyers see them as a liability.
More often than not, however, a backyard swimming pool will add value to a property.
How much value does a pool add to a house?
Let’s talk numbers: if it is indeed a net positive, exactly how much value does a pool add to your house? Once again, the answer depends on a range of factors so will differ from property to property, but general numbers can hint at what the addition of a pool can do to your valuation.
In the US, where the most research has been done on the subject, studies suggest that a pool can increase the price of a property by up to 7%, though the figure changes depending on location.
In Australia around 13% of properties have pools. Looking at individual cities, Perth leads the way with 19%, while just 4% of Hobart homes have pools. The average price for a home with a pool is higher than the average price of a home without a pool, but this difference is largely explained by the fact that properties with pools tend to be bigger.
Perhaps the most accurate answer to the question of how much value a pool adds to a house is probably a little bit.
Swimming pool costs vs return on investment
While the addition of a pool to a home can bump up the property’s value, a pool will incur upfront and ongoing costs which should be taken into account.
The upfront cost of a traditional swimming pool can be significant, because you aren’t just paying for a pool – you also need to fork out for design, engineering, council approval, excavation, installation, fencing, landscaping, pool equipment and more. As a result In-ground concrete pools tend to range from $50k for a basic build, up to $200k+ for a large, high-end option.
Then there are the ongoing costs:
- Pool maintenance, such as water treatment, cleaning and equipment maintenance: $1000-$2000/year.
- Pool running costs, such as powering heaters, filters, lights, pumps and water features: $1000+ per year.
- Pool insurance, including damage and accident liability: costs vary.
Ultimately a pool will only truly be value adding if the value of your property increases more than the cost of installing and maintaining the pool.
Traditional swimming pools vs swim spas
Up to this point we’ve only really looked at traditional backyard pools. But there is another option: a compact, self-contained, heated pool that is super easy to install, that requires minimal maintenance, and that can even be taken with you if you ever choose to sell your home.
In many ways swim spas represent the evolution of the backyard swimming pool. Measuring just a few metres long and a couple of metres wide, swim spas can be installed in backyards that simply don’t have the space for an in-ground pool. But despite their small footprint, they offer a functionally infinite swim, thanks to the presence of a propulsion system that creates a wide, deep and powerful current for you to swim against.
A Fastlane Pools swim spa is so much more than a pool. Hydromassage jets make this a perfect place to relax and recuperate. The heated water means you’ll be able to enjoy a swim and a soak all year round. And by adding an underwater treadmill, rowing kit or aquabike, you create a complete aqua fitness machine.
Fitness, relaxation, hydrotherapy, family fun; a Fastlane Pools swim spa does it all, and does it for less, potentially adding serious value to your property. Between the compact size and the affordable price, Fastlane Pools swim spas are designed to bring the joys of pool ownership to more Aussies, while offering the quality and innovation that Hot Spring is famous for.
Interested in experiencing the unique feeling of swimming in place, as a strong and steady current rushes past you? Get in touch with your local Hot Spring dealer today!
