There is no denying the fact that the popularity of swimming pools has never been this high. Even though it is a big investment, the swimming pool industry has been on the rise for the past few years. In the next decade, it is expected that people would want to avoid communal beaches and public pools and would be interested in relaxing in their own backyards.
However, the one question that many people wonder is whether or not they are worth the investment. This is a complicated question. Research suggests that a swimming pool can add value to your house, but not always. Read on to learn more.
Does a swimming pool increase your home value?
The answer to this depends on a wide range of factors. For understanding this, let’s take a look at these factors:
1. Location and design of the pool
The value of your pool will depend on how well it is integrated with your backyard and home. If your fibreglass swimming pool blends seamlessly with your home, buyers will be more interested in making a bid. This way, it’s more than just an adjunct, but a fully-integrated feature. If you want to make sure that your fibreglass pool enhances your home’s value, here is what you need to do:
- The location of your pool should be in such a way that it offers a nice view from every angle. This will make it easier for you to supervise your children. Also, it will increase your pool’s visual appeal.
- You can add features to your swimming pool. By adding a blade waterfall, you will have improved visual aesthetics. Investing in landscape ensures that your backyard is transformed into a seamless, beautiful space.
- Make the most use of aquatic lights to give some evening glamour to your backyard. This way, even when you aren’t using your fibreglass pool, they will still add to the appeal of your home.
Maintaining your pool will be an important aspect of your decision to invest in a swimming pool. Pool maintenance makes up a big chunk of your energy bill. So, if you plan to sell your home in the future, having an energy-efficient fibreglass pool will be the smart decision. It will tip the scales in your favour.
If you live in a family-friendly suburb, having a fibreglass pool in your home will be valuable. People with children would prefer living in a home with a pool. Moreover, melbourne fibreglass pools not only are desirable for kids but adults as well. As more and more people are getting into health and wellness, swimming pools have been becoming more popular.
2. Distance to the beach
You might think that people who live near a beach won’t be interested in a house with a swimming pool. But, people who usually live near the ocean are the ones who love the water. They would want to have an option for when they don’t want to deal with the sand or when the winter season begins and the ocean water gets too cold for swimming.
If you live in a place with a sunny climate, installing a swimming pool will be a valuable investment. With warm summers and mild winters, you will be able to embrace the outdoor lifestyle with a fibreglass swimming pool.
How much value will a swimming pool add to your home?
This is a complicated question. According to some reports, you can expect an increase in the range of 5 to 8 per cent. Some other studies show that the best you can expect is a 7% increase.
To figure out the answer to this question, you have to consider the above-mentioned factors. One of the most important ones out of these is the location. If you live in a place where there aren’t many homes with pools, having one in your backyard will increase your home’s value. You will have a unique aspect to offer and it will be impressive to the buyers. A fibreglass swimming pool will be a popular amenity in a neighbourhood with a lot of families with children.
But, you have to make sure that you maintain your pool properly. A poorly maintained pool that requires a lot of repairs will deter buyers and decrease the value of your home.
If you have been planning to install a fibreglass pool in your backyard and are worried about how it will impact your home’s value, you can hire a professional appraiser. They will help you get the right estimate of the increase in your home’s value that you can expect. Depending on this, you can figure out if the investment is worth it or not.
Financing a pool
If you are eager to install a pool, you will need to take a look at your finances. Here are some of the pool financing options you can try:
- Get a cash-out refinance by tapping your home’s equity
- Get a home equity loan
- Consider getting a home equity line of credit
- Apply for a personal loan
Before you commit to a fibreglass pool, you should know what you will be getting yourself into. Think about the insurance coverage, repairs, and maintenance costs. As an investment, you might think that it won’t be worth it, but it surely will provide you with years of fun and enjoyment. It is almost impossible to know for sure exactly how much your home’s value will increase down the road when you finally decide to sell it.
When you are finally selling your home, you will have to prepare your pool and market it effectively. This means that you will have to make repairs to the pool and clean it properly. This outdoor retreat should be nicely staged. By employing good marketing tactics and catering to the right buyer, you will be able to sell your house at a good price. The most likely buyers will be families with teens or children and high-end house hunters. Lastly, you have to ensure that you are selling at the right time. If you are selling during the winter season, the buyers might not be interested. But, when they see a pool during the scorching heat of the summer, they are more likely to make a bid.
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