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The big plunge

Things are heating up and we are now experiencing days over 30 degrees celsius; we come home from work, hot and flustered and wondering why we didn’t put that pool in last year. School holidays are at our doorstep and the kids are restless after tests and exams and you are now realising it’s too late to organise a pool contractor to have the job done by Christmas. So…. is it worth taking the big plunge?

Of course, the pool contractors will convince you that it will add value to your home whilst the real estate agents may be more reserved with their opinion. Generally, if you live in a warm climate and upmarket area where many homes have pools it may be an expectation of the buyer that a pool would indeed add value to the home. Whereas if you live in a cool climate the few hot months a year may not be enough to justify putting in a pool.

With above ground pools starting at a price of $3,000 and inground pools anywhere in between $35,000 and $100,000 it’s a big investment. Often people will estimate the costing of adding a well-designed and constructed landscape for approx. 5-10% of the home value; the ratio also applies to swimming pools. Try and keep building costs to this average including the little extras such as fencing and decking costs.

A local real estate agent is always a good point of call to discuss how much extra a house with a swimming pool may be worth. Note some buyers will not make offers on your property because it has a pool and the cost of removing an unwanted pool can be very expensive. It’s also interesting to note the majority of pools are built at seaside homes. We’ve all seen pictures of the much-envied infinity pool overlooking the bay.

Adding monetary value to your home aside, you can’t go past the lifestyle benefits that come along with having a pool in your own back yard. Beyond a source of entertainment, it provides a relaxing and fun way for friends and family to come together and incidentally exercise. Many of us are lacking physical activity in our lives and a swimming pool can provide us with the aquatic therapy to create a healthier environment and reduce stress.

Needless to say, the way to get the best deal for your house is to appeal to the majority of buyers. Consider your location and speak with the local real estate agent to see if a pool will add value to your home should you decide to sell. Buying a swimming pool can be likened to buying a luxury car, it can be a depreciating asset, however the enjoyment is worthwhile and adding value to your quality of life is a fair price.

Secure your financial future today!