Does a Swimming Pool Add Value To Your Home?
Deciding if a swimming pool is a good investment for your home? This is generally one of the things that comes to mind for homeowners when considering a pool. Understandably, for many, installing a pool is a substantial investment to your property, so you want to be sure that you are making the right choice.
The lifestyle that a swimming pool provides, encapsulates the outdoor living lifestyle that Aussies are notorious for, right at your back doorstep ready to use at your leisure!
Having a pool in your backyard has become an iconic staple of many Australian homes and with our warm climate year-round, why not! It provides homeowners with a copious amount of benefits; it’s a complete lifestyle change for many people. The idea of having your own private recreational area to enjoy for many years to come, is extremely appealing to us Aussies. It provides a space that can be used for a multitude of purposes, whether it be lounging around and relaxing on those balmy summer days, or used for fitness and fun, which is not only greatly beneficial for our mental health but our overall general well being. A swimming pool is something that can be enjoyed for many generations to come, creating lifelong memories with family and friends along the way!
If done correctly, a swimming pool can add substantial value to your property too!
Research shows that houses with a swimming pool are priced higher than those that don’t. However, ensuring that you have a top-quality product such a fibreglass pool, that it aesthetically appealing, will increase your value property more so than an older style of pool such as concrete and vinyl liner pool, these are generally outdated and more upkeep for the owner.
Lendi, a home loan platform, conducted a survey consisting of 1000 Australians and asked if they would pay more for a house with a pool. 1 in 7 stated they would pay $50,000 or more. “This would approximately return the cost of the pool and installation,” Lendi said.
Some important factors to consider when purchasing a pool to ensure that you are adding optimal value to your home
Location, Location, Location
Installing a pool in the right suburb and climate is key to adding optimal value to your property. Homes based in suburban, family orientated neighbour hoods and homes located in states with warmer climates, tend to attract potential buyers that are willingly to pay more for a home with a pool. Surprisingly, seaside suburbs house the largest number of homes with pools, this is believed that people who are attracted to waterside living will pay more for a home with a pool. Additionally, property owners should factor in considerations regarding placement of the pool in their backyard to ensure it complements their home, such as sunshine, distance from the house, and of course aesthetics, ideally the pool design you choose should be timeless and look amazing not only today, but for decades to come. This will increase your odds adding valuable dollars to your home.
A pool that requires minimal effort
A big factor that can potentially turn buyers off, is an older, outdated model that requires costly work and daily upkeep of the pool. A smart idea to consider the various cleaning options that are available when selecting a pool to reduce the commitment involved with maintaining it. Modern technology allows us to produce state-of-the-art pools that are practically self-sufficient, with minimal obligation and effort from the owner.
A system such as our QuikClean Xtreme in-floor cleaning system means your pool cleans itself! It works by eliminating debris frequently, without the need of a vacuum or having to manually do it yourself. It distributes the chemicals evenly throughout the pool, ensuring that your water is circulated correctly. Homeowners have stated to us having this system in place, has made maintaining their pool stress-free and is an attractive feature which is appealing to buyers, making their home easier to sell.
Shape and design of the pool
Purchasing a pool based on the shape is a personal preference, we all have different likes and dislikes, however, if selling was something that you would consider in the near or distant future, its clever to purchase a pool that’s shape is timeless and isn’t just “in-trend” right now. Kidney shaped pools for example, were all the rage in the 90’s, and whilst kidney pools are still fantastic in their own right, they are not as popular now as they used to be. If you were wanting to add maximum value to your home with a pool, a rectangular shape is a smart choice as it boasts slick edges, clean lines and will remain modern for decades to come.
How energy efficient your pool is
The less you are out of pocket to run your pool the better, plus the more energy efficient your pool is, the more enticing it will be to potential buyers if you choose to sell in the future. Using an energy efficient pump is popular choice and can drastically reduce your running costs, this however may save you costs on your energy but may increase the amount you spend due to the substantial reduction in circulation quality. The most efficient solution to keeping your pool water clean, is a combination of energy efficient equipment with a circulation technique that will assure maximum mixing water and keep your pool crystal clear year-round. Our team can help with this!
“If there’s one thing homeowners are proud of, it’s their swimming pools!” -Swimart.
The Swimart Summer Pool Owners Survey 2012, conducted a survey of almost 200 pool owners from across the country and found that in terms of value, swimming pools can add an average of $30,000 to a property; with estimates ranging between $10,000 and $100,000, depending on the style, location and size. Aussies love our pools, and we can understand why.
Eighty-five per cent of Australian pool owners believe that their pool adds value to their homes, with 42 per cent admitting a pool is a deciding factor when purchasing property.
“According to our research, the value a pool adds to a property can be defined in both monetary and lifestyle terms,” says Chris Fitzmaurice, national manager, Swimart. “Almost half of those pool owners we surveyed use their pool most for relaxing and another third for quality family time.” Australia is a country that is known for its pristine beaches, however, 81% stated that they would rather relax by the pool than head to the beach.
Ray White Real Estate states, a pool could be a smart move in helping increase the value of your property.
“There is no doubt homes with pools are more attractive to purchasers”
Christine Rudolph who is ranked in the top 2% internationally as an Elite Performer for Ray White, who specialises in high-end inner-city homes says, “There is no doubt homes with pools are more attractive to purchasers. Recently I sold a magnificent property, but the days on market were far longer as the majority of buyers wanted a pool.”
In comparison, most premium homes where the pool is now a feature, integrated with the living, dining and kitchen area, are highly sought and sell quickly.”
Additionally, Christine Rudolph from Ray White explains “statistically a home with a pool sells for 20% – 30% more than one without. This potentially equates to a 100% return on investment for homeowners who add a pool.”
For example, a property in the inner Brisbane suburb of Tenerife with a small plunge pool, recently sold for $1.4 million, while a home in the same street, similar condition but without a pool, sold for just over one million. The pool definitely made a difference.
A fibreglass pool installation can be completed in as little as 7 days! It is a prompt way to add value to your home, it can be designed for the whole family to enjoy or installed prior to selling your property.
“For many of the premium properties we sell in the inner city, the home is actually designed around the pool as a feature. Stunning pools certainly captivate the attention of buyers who visit,” Ms Rudolph adds.’
“A good pool is likely to heighten the level of enquiry for a property, which should push the value up.”
Each year, 20,000 pools are built here in Australia, costing an average of $30,000; this amount is thought to be added to value of the property. As research analyst, Angus McLean from PRD Nationwide explains, “It’s hard to put a number on the value, but a good pool is likely to heighten the level of enquiry for a property, which should push the value up.”
Put simply, people like pools! If your property has one, it will generally accumulate more interest than other homes in the area. Increased interest in the property means more competition when it comes to bidding, and in hand reaches a wider market, giving you the better price as the seller.
Fibreglass pools are the way of the future, they are replacing old concrete and vinyl liner pools that were the only option many years ago. Generally, a fibreglass pool is seen as more aesthetically appealing and therefore adds more value to the property.
The latest data from Roy Morgan shows that swimming pool ownership has increased from 12 to 13 percent, which equates to approximately 2.7 million Australians living in a home with a swimming pool – up from 2.3 million in 2015.
So how does a fibreglass increase the value of your house?
Some advantages of a fibreglass swimming pool
- They are recognised for their easy, low maintenance upkeep
- They far surpass the lifetime of a concrete or vinyl pool
- The porosity of a fibreglass pool. It is made of a tough gel coat, that is practically non-porous, this not only protects the fiberglass but also gives it a glossy and smooth finish
- Property owners spend around 75% less money and time on maintenance, therefore increasing the likelihood of a higher investment return
- Fast installation, the quicker your pool is installed the more money you can save
- Luxurious, modern appearance. Fibreglass pools are aesthetically appealing, with finishing touches such as pool lights and water features, they are an asset to your home.
If you do decide to put a pool in at your home, it is best to consider the varying factors mentioned above and ensure that you are putting in the best quality product that is available, such as fibreglass pool. This will not only make cleaning and maintenance easier and cheaper, but it is more likely to appeal to prospective buyers if you do choose to sell in the future. The benefits of having your own pool are endless and it is a clever investment if you want to add value to your home.
You are never going to please every single buyer when it comes to selling your home, no matter how amazing it is, however, research shows that Aussies love their pools and the lifestyle that having one brings. Living an outdoor lifestyle is embedded in our culture, with most people spending their free time outdoors, enjoying their weekends. Many of which are spent catching up with friends, having a drink and barbeque, imagine topping it off with a dip in the pool – doesn’t get much better than that!