Just wondering if anyone has advice or experience on whether adding a pool will increase a property's value?
Currently building in a new sub division and considering adding one (before all the neighbours houses and fences go up) but it's going to cost 30K
Have spoken to a local realtor who assures me it will add 50K resale value to the house but I'm a bit skeptical.Any thoughts?
Don't believe the REA. A pool will only add value for those who value a pool (anyone can add a pool if they want one & there is available land) however it does cut out a significant portion of the market who do not want a pool (child safety, upkeep, running costs etc).
It will not add more value than its cost.
Thanks – that's kinda what I was thinking also. I remember when I was growing up my parents had a pool installed for 10g, now it's 30! guess it also doesn't help when there's only one supplier in town. lol.
Thanks for the advice.
Hi bouncecf,
Alot of investors will be turned off by a pool due to the potential maintenance and upkeep costs involved as majority of tenants wont look after it. So as a result it could restrict the marketability of the property as it likely would only appeal to owner occupiers.
Jacqui
Are you going to live in it? If YOU WANT a pool put one in. Our kids were never out of ours for 10+ years so it was value for money.
Otherwise I wouldn't put it in as a money making exercise.
I think it all depends where the property is. If it is in Darwin or Cairns or somewhere where most houses have pools then it might be worthwhile. I think a house in the tropics would be far more rentable with a pool.
If however, your property is in Melbourne or Adelaide or Hobart or somewhere where pools are not standard then I wouldn't bother. Having a pool in these areas can add value (for example, an "executive" residence would be expected to have a pool and a tennis court), but generally speaking, for a stock standard IP, it wouldn't be worthwhile.
Cheers
K
In my opinion, I don't ever want pools in my IP's.
Cost of upkeep, especially if tenant has lost interest, becomes a problem.
No-one wants to pay for a new filter for an IP pool! Vacancies of IP's with a pool means you have to pay someone to maintain it.If you want a pool in your PPOR, I strongly recommend to buy the house with the pool!
Unless you want to stay in your current house.
We enjoyed a pool when our boys were late primary aged to late high school aged.
Then our experience was, once they started driving, the pool was no longer used much or at all.
Which was a good time to sell, and buy without a pool.If you put in a pool in your PPOR, consider making it above ground. Look at buying second hand if possible!
Can be dismantled and resold when interest dwindles. And you don't have to move house.
Costs of inground pool, solar heating, tiling, etc could cost $50K!quickchick
Thanks for all the input
It's a bit of a tricky one because I do really want a pool for myself but we are only looking to staying in the house for approx 2 yrs before moving on and either selling or renting it. Unfortunately we live in a very remote place so there is really not much choice in regards to going above ground, 2nd hand etc though on the up side it's hot all year round so no need for heating I think this is one to decide on after the house gets built. If a pool was going to add value then it probably would have swayed me that way but it doesnt sound like it makes a difference and, from some of the insights, it sounds like it might even cut out some prospective buyers! (if we decide to sell.)
Thanks again the input has made me look at the idea a bit more rationally (as opposed to trying to justify simply wanting something for myself lol!)
If you plan to sell the house after 2 years, ask local agents and look around yourselves…
Does a pool add to resell price in your area?
(In most areas, I would think not. But if you are selling someone's "dream home" MAYBE a pool will add value. If it is expected in that market.)If you plan to rent, I wouldn't think of it!
Sometimes we all make purchases which are simply lifestyle choices, and we are prepared to pay the price for them.
A pool is a big lifestyle expense! Maintenance after purchase.quickchick
We just crossed the same bridge for our property in Melbourne.
We were originally looking a simple water feature, but then we figured why not make the water feature functional too.
We battled with Pool vs Spa, but pools just wound up too expensive. The cheapest we could find after some serious bargain hunting was approx 20-25K for a small plunge pool (which is what I wanted)
In the end we settled for a spa – Big enough for 4-6 people, small enough to be maintainable without killing finances.I also rang the agents (3 of them) and they all advised against it. In the end Agents are averse to anything that might make their jobs mildly harder.
Yes there are plenty of people that will be put off, but there are also a lot of people that would enjoy that, as we did.
Melbourne can have relatively extreme summers and winters. A spa fit that for entertainment.
Our house will be up for rental shortly, whereby I am at peace with the fact that only tenants that appreciate a body of water will rent it.
(Worst case scenario, we put a cover over it and don’t use, no big deal)As an investor, it is counter productive from a money aspect, as it is an unnecessary spend. But then most of the stuff we buy is not really necessary.
I have found it is about personal standards, and what you would want as a family in that house. If you want a pool for your family, chances are that other renters will too.
Have spoken to a local realtor who assures me it will add 50K resale value to the house but I'm a bit skeptical.
It's a bit of a tricky one because I do really want a pool for myself but we are only looking to staying in the house for approx 2 yrs before moving on and either selling or renting it. Unfortunately we live in a very remote place so there is really not much choice in regards to going above ground, 2nd hand etc though on the up side it's hot all year round so no need for heating 
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