Many experts agree that inground pools which are well-kept boost your home's resale value. Invariably you will see higher costs for homes with inground concrete pools in a range of about five to eight percent above those without them. However, to apply an actual dollar’s figure in relation to an increase or decrease in the value of a home based on the existence of a pool, is dependent on several factors. The increased interest in pools is more noticeable in the country's warmer regions because they tend to be used for twelve months a year. Some resort communities even allow owners of these properties to raise their rental rates higher than those without pools.
If you are in a neighbourhood with many pools, but your home does not have one, the value of your home could decrease. By contrast, if only some of your neighbours have pools, the likely impact on your home's value is negligible. Interestingly suburbs located by the coast are very popular for in-ground pools as living by the water is very appealing and a way of life to many so having a pool certainly has its appeal and can add value to your home. The age and type of pool design can also impact the value of your property, not surprisingly, in those areas where inground pools are the preferred type, above-ground pools do not tend to increase a home's value. For example, should you have a backyard that has a beautiful outlook, and you want to enjoy the view whilst swimming then an infinity pool maybe more appealing to the eye to the purchaser. The lack of price increase is likely because inground pools typically far outlast their above-ground counterparts. A well designed and built in-ground pool is most certainly more appealing to the eye of buyers. This can be sold to perspective purchasers as the perfect space to relax with family and friends in Australia’s warm summer months, whilst enjoying and BBQ whilst watching the kids enjoying a dip.
Depending on the purchaser’s stage of a life a swimming pool may not be so appealing to all purchasers, as some people may prefer the space to create a veggie patch or perhaps have and play area with play equipment for smaller children or if you have teenager’s they may prefer to go to the beach rather than being at home. Before deciding, you may wish to look at your local market as the local area demographic may also affect your decision. For instance, if you live in an older area with a large majority of elderly people then this could impact your if in fact you will get your money back once when you decided to sell your property. Perhaps consider speaking to your local real estate agent prior to making the decision to install a pool, as they should be able to confirm if in-fact installing a pool will or won’t increase your property prices tag when selling. It is always a good idea to monitor recent sales of homes in your area both with and without a pool to get a gauge on the potential value added by that hole in the ground out the back.
Some buyers may see a pool as an inconvenience and not be keen on paying for on-going maintenance and upkeep of a pool and pool area. Others may in fact be happy to pay a higher price for a well thought out pool design and appealing outdoor entertainment area that the whole family can enjoy. Ultimately the choice is yours, Oasis Pools Melbourne are here to help and can provide you with advice on design etc to help our clients achieve the best result and have you enjoying your pool in no time.