With over 1.2 million homes within Australia enjoying their own private swimming pools, it’s becoming pretty commonplace to see these features; from the suburbs of Melbourne, right through to the coastal regions of Sydney. Swimming pools can be a great way for a family to enjoy the summer together, but did you know that they can also add a pretty hefty sum to the value of your home?
Does Installing a Pool Increase House Value?
For sure – as long as it ticks all the right boxes. What are these boxes you ask? Well, there are several different types of swimming pool that can be added to a garden, from those that are built into the ground, to those that are above surface level and even the ones that feature rockeries and other attractive components.
So, what about those of you that are toying with the idea of having a pool installed? How much should you expect to spend to see a profit and how can you guarantee that your new swimming pool provides as much of a boost to your home’s value as possible? It’s actually pretty simple really. A recent survey undertaken by Australia’s own Swimart discovered that out of 5,000 home owners asked, over 90% of them believed that their pools added some form of value to their property.
But how much is this value exactly? It all depends on the look of the pool, its functionality and where it’s located. Studies found that pools located in a back garden, where privacy is far more prominent, can add anywhere between $10,000 and $100,000 AUD to the value of a home. Now if you’re keen to avoid the lower estimate, you’ll just need to follow a few tips to ensure that your pool doesn’t end up costing more than its overall added value.
What are these tips?
The first thing to consider is the location. West-facing pools are often in the sun for much longer, so these ones can fetch a far greater price tag when selling a home. To take advantage, why not consider having your pool installed from East to West? This can help to make sure that you enjoy the most sunshine, making for pretty warm temperatures in the water when the summer comes around.
Next, studies have revealed that pools that are built into the ground can be much more appealing to home buyers than those that are constructed using external frames. This is quite a logical consideration, but if you are adamant that you’d like an external pool, then to maximise the price, you might want to have features installed to enclose the pool itself (such as a rockery, decking, or even a slide).
On average pools can cost between $30,000 and $60,000 to build and if done properly, they can go way beyond the estimate of $100,000 – with some home owners reporting additional house values of several hundred dollars!