Does a swimming pool add value to the price of your property?
One of the things people can be concerned about is whether a swimming pool installation will add or detract value to their home. Especially if they are considering selling it in future.
But does a swimming pool add value to your home?
As we know, the average swimming pool costs between £60,000-£150,000. So you would assume that investing that much in your home would add at least that much in value. Imagine spending £5000 doing your bathroom up and it not adding, or even detracting value from your home. It wouldn’t happen. But a swimming pool is really a hit or miss. Some people want them and some people don’t. And the truth is that a swimming pool can detract value from your home. People may not be willing to pay more for a house with a swimming pool. And in fact may want to pay less if they need to spend money on energy and maintenance or if they want to fill the swimming pool in (which yes, people do often do).
In this blog we look at the problems with installing a swimming pool, whether there is a difference between indoor and outdoor pools and what you need to consider.
- How much does it cost to install a swimming pool?
- A comparison: concrete pool vs liner pool vs one-piece pool.
- Indoor swimming pool vs outdoor swimming pool: How much does it cost to install?
Problems with adding a swimming pool to you home
Swimming pools may be undesirable for many people when buying a house because:
1. They can be expensive to run
2. They require a lot of maintenance
A swimming pool can add hundreds of pounds to the energy bills in your home. And so, if you aren’t fully committed to having a swimming pool, this can be off putting.
In addition, the maintenance required takes time, but also requires money for chemicals, servicing and repairs.
If you aren’t looking for a pool, a house with a swimming pool can add an expense that you don’t want. Therefore, if anything it can detract value from the home.
Does an outdoor pool detract value from your home?
You probably already know that indoor swimming pools are more expensive. They usually cost £25,000 more than outdoor swimming pools. But will the saving cost you more in the long run in terms of house value?
Outdoor swimming pools may detract from the value of your home more than indoor pools.
This is due to the usability. You will get less use with and outdoor swimming pool due to weather and the fact that they are usually closed up for half of the year. Also, maintenance for an outdoor swimming pool can be more intensive than an indoor pool.
Indoor swimming pools are less of an issue for value of a home. Yes, they still have maintenance and running costs. But they will usually get more use than an outdoor pool.
Things to consider when installing a swimming pool...
While the answer might seem like: no, a swimming pool does not add value to your home.
There are really a lot of factors that can influence this.
1. Who is in the market to buy a home?
It might seem really obvious, but who is looking for a house at that moment will determine how much value it adds.
If someone is looking for a house with a swimming pool then yes, it will add value as it means they don’t need to spend money and add their own.
If they aren’t looking for a pool, then as you would imagine they would be less willing to pay extra for one, even if they like the rest of the house.
It’s all about getting the right buyer at the right time. Which means, that it might take longer to sell at the price that you want.
2. When are you planning on selling your home?
A swimming pool is expensive and it should be viewed as a long term investment. If you are planning on selling your home soon, then it might not be the best move as it might not increase the price by as much as you spend on it. It might be better to install a swim spa instead as this is portable and you can move it if you move home.
However, if you are in your forever home then it might be worth installing a swimming pool. You will get a lot of use and return in investment in term of enjoyment over the lifetime of your pool. Plus, by the time you do sell (if you ever do) the investment you made in the swimming pool will be less palpable.
3. How well is the swimming pool maintained?
One thing that we are often asked to do it a report for potential buyers of a house with a swimming pool. This is to check that there is nothing currently wrong with the swimming pool, and nothing that will need replaced in the near future. Also to check that the pool has been well looked after over its lifetime.
Anything wrong will, of course, have to be fixed, and will cost money. This could affect the sale price.
The main thing to remember with this is that your swimming pool need to be well maintained with regular servicing over its lifetime to ensure that it maintains it value.
Especially, if you are thinking of selling in the future you will want to make sure you look after your swimming pool and if anything goes wrong, that you get it quickly repaired.
Does a swimming pool add value to your home?
Most people would say no. But it really depends on so many things. Whether you swimming pool is indoors or outdoors. Who is looking to buy. When you are looking to sell. And most importantly, the condition of your swimming pool.
The best advice that we can give is to only install a swimming pool if you are planning on staying on your house for the foreseeable future. And, that if you do install a swimming pool you look after it so that it maintains it’s value.
And finally, think about why you want to install a swimming pool. Do it for yourself, because you want to and because you think you will get lots of use and value from installing it. If that is your main motivation behind installing a swimming pool, rather than as a way to increase the value of your home then you should be good.