Pools can be a great addition to a home, especially in warmer Australian states, where people really need a place to relax and cool off during summer. But when it comes to adding value to a home, the question of whether pools are worth it is a bit more complicated. While swimming pools can be attractive to potential buyers and increase the value of a home, they might actually decrease the value in certain cases. In this post, we'll dive into when a pool can add value to your home, and how much.
How much value does a pool add to a house?
Depending on the size, location, material, and construction, a pool can add anywhere between $10,000 and $100,000 to the value of a home. Pools are more popular in the north, particularly in regional Queensland, Perth, Brisbane, and Sydney, according to a Roy Morgan survey. This implies that pools add more value to properties in these regions, compared to, say, Melbourne.
“In more practical terms, how much value your pool adds to your home depends on the type and condition of the pool you own, and the location of your home. Even if your pool is not the newest on the market, a classic, well-maintained in-ground pool can be very attractive to buyers."
- Colm from Swimming Pool Kits Direct remarks
Will a pool add value to your home? Here are some contributing factors
Your target buyers
The value a pool adds to the home depends on the demographics of potential buyers on the market. A younger buyer might be attracted to a modern-looking pool with a large party area. In this case, staging the pool area with appropriate lighting and extra features like a BBQ or firepit can drive up the market value.
A pool might also appeal to young couples who want to build a family, or to families with young children. Just make sure that your pool has all the required safety features, like a fully enclosed barrier and CPR signage.
Location of the pool
A well-designed and maintained pool can add to the overall appeal of a home. If you’re considering getting a pool, think about its location and design carefully – is it compatible with the overall aesthetic of the house? Do you have enough space around the pool for other backyard activities, or does it take up all the precious backyard space? While some buyers might be happy for the pool to take up the yard, others will want to see yard space that can be used for other activities.
How expensive is it to have a pool?
Based on the size and material of your pool, installing a new pool can cost you anywhere between $12,500 (for fibreglass plunge pools) and $50,000 (for full-size lap pools) for a DIY fibreglass pool. Additionally, pool maintenance can cost between $800-2000 every year.
In addition to the initial cost of installation, pools require ongoing maintenance and upkeep, including regular cleaning, chemical balancing, and repairs. These costs can add up over time and may not be worth it for some homeowners.
Many of these concerns can be resolved by making some smart choices when you invest in a pool. Although vinyl-lined above-ground pools are cheaper than inground, they barely add any value to a home. Inground pools are more luxurious and long-lasting and thus have a higher appeal.
More homeowners are considering fibreglass pools instead of concrete because of installation and maintenance costs. Fibreglass pools are cheaper to set up (starting at $12,500) and easier to maintain. Concrete pools are more expensive to install (starting at $20,000), and more difficult to maintain. This makes a high-quality in-ground fibreglass pool a smart option. If you’re on the lookout for a great pool to add value to your home, get in touch with us for a quote.
How do you add value to your home with a pool?
Design
A classy, timeless pool design is more likely to appeal to a wider clientele. If you have the space, consider adding features like a pool house, fire pit, barbecue station, and other functional outdoor areas so that you can build a lifestyle around your pool. Not only does it increase the market value of your home, but it makes it more comfortable to live in.
Maintenance
If you do install a pool, take good care of it – a poorly maintained pool can decrease the value of your property as it means more work for the new owners. Ensure that the pool is free from debris, algae, and corroded metal. Invest in pool covers if you don't use your pool as often.
Pro tip - ask your agent
If you are considering adding a pool to your home but are not sure how it would impact the value of your home, speak to your real estate agent. Ask for insights about the local target market in your area, and if pools are in demand. A professional opinion will help you decide how much to invest in your new pool from a real estate perspective.
Final thoughts
In Australia, where the weather is warm for much of the year, a pool can be seen as a desirable thing, especially in areas where pools are less common. However, if you want your pool to add as much value as possible, make sure to choose something suitable for the weather, the size of the backyard, and the target demographic of your area.
Now that you have a better idea of how a pool can add value to a home, all that’s left is to pick a pool – reach out to us for suggestions!
Swimming Pool FAQs
Do above ground and inground pools add the same value?
Inground pools add much more value to a property compared to above ground pools. In fact, above ground pools barely add any value as they are not permanent structures. On the other hand, inground pools can greatly increase the value of a property depending on its size, aesthetic appeal, and maintenance.
Which types of swimming pools add the most value?
In general, inground pools add more value to homes than above ground, since they are of higher quality and are more permanent. Among inground pools, both concrete and fibreglass pools add value to a home depending on buyer preference. Concrete pools are attractive when they add to the aesthetic of a home. However, they are difficult to remodel. On the other hand, fibreglass pools are easier to maintain and remodel. They are also more resistant to algae and damage.
How much value do fibreglass pools add to the home?
Fibreglass pools are attractive to homeowners as their upkeep is much cheaper than concrete pools. Fibreglass pools are easier to maintain, and resistant to algae. On average, fibreglass pools can add anywhere between $12,000 and 50,000 to the value of your home, depending on the size, extra features, and condition of the pool. Larger pools with water features and amenities (like a pool house, cabana, and fencing) typically add more value to a home.
Is it easier to sell a house with a pool?
Overall, it is easier to sell a house with a pool if the location of the property and quality of the pool are good. For instance, a property with a pool in a warm climate like WA or QLD is much more valuable than a home without a pool. In contrast, a home with a pool in Melbourne, which traditionally has a cooler climate, may not be as attractive to buyers. Additionally, a high-quality inground pool is very attractive to buyers compared to an above ground pool or a poorly maintained concrete pool.
Ready to dive in? Talk to us about your new fibreglass pool, and let us help you make an informed decision.
