Yahoo Finance Do pools actually add value to your home?
When it comes to property values, whether or not a pool adds value to a home is often debated.
On the one hand, a pool is luxurious, fun and often an aesthetically pleasing backyard feature.
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But on the other hand, pools add maintenance costs and demand home-owners’ time.
According to realestate.com.au chief economist Nerida Conisbee, the question is whether the $50,000 you spend on a backyard pool sees a corresponding increase in value.
“‘Swimming pool’ is always the number one key word search term for buyers and renters on our site,” she said.
“As an added extra to a home, it is a popular option. It is also consistent with other key words that buyers use – buyer search terms tend to be aspirational, which a pool definitely is.”
She said renters are also interested in pools, likely because they’re primarily looked after by their landlords.
“For buyers and renters, the popularity of ‘swimming pool’ as a key word search term would suggest that it’s not particularly a bad idea to add a pool.”
However, it might not be the pool itself that is appealing – rather that homes with pools are also generally those with larger land sizes.
And as land values skyrocket, buyers will often pick up a home featuring a pool for between $1 million and $3 million in Sydney, only to remove the pool and build “their dream home”.
“In the end, adding a pool may or may not add value,” she said.
“It likely depends on where you are – in Brisbane a pool is probably more attractive than Hobart for example.”
Aussie Home Loans’ Michelle McKinnon said it’s important to think about your local market and the types of buyers in your area when considering putting in a pool.
She said that while pools are popular among families, those with young children are more likely to steer clear, as are downsizers and retirees who likely consider pools to be too much work.
Raine & Horne echoed this, noting that while for some house hunters, a swimming pool is a major bonus, for others it’s a huge turn-off.
“Whatever a buyer’s personal preference, how the dollar value a backyard pool adds to your home’s final sale price will be primarily determined by its condition and overall presentation,” Raine & Horne said on its website.
“Just like a kitchen can make or break a sale depending on its layout and general appearance, a pool has the potential to help or hurt a seller’s bottom line.
“Monitor recent sales of homes in your area with and without a pool to get a gauge on the potential value added by that hole in the ground out the back.”
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