Do Swimming Pools Add Value To Your Home?
When you think of your dream home in Toowoomba, it’s hard not to imagine a swimming pool in a beautifully landscaped backyard.
Australia already has the highest rate of swimming pool ownership per capita in the world, and our state enjoys the lion’s share, with data showing that 20% of all properties in regional Queensland come with a pool.
But if you have your eye on installing a pool there are some important questions you should ask first.
1. What does a pool in Toowoomba cost?
The price of installing a pool varies considerably, depending on its type, size, and the complexity of construction. In Toowoomba, the average cost for a concrete in-ground pool is between $40,000 and $50,000, with fibreglass pool shells ranging from $6,500 to $25,000. Fibreglass typically pools have a shorter lifespan than concrete pools and could need ongoing resurfacing and repairs to keep them functional longer-term.
Above ground pools can be significantly cheaper. And another popular option is a plunge pool, a smaller variety of in-ground pool, typically no larger than 5 x 3 meters.
Other costs associated with pools include landscaping, fencing, paving and pool covers.
2. How much does a pool cost to maintain?
Australians can easily spend upwards of $1,000 per year on pool maintenance. Again, this figure will vary wildly depending on the size and type of pool. Some of the maintenance costs to consider include cleaning, heating and keeping the pool filled with water and chemicals. In summer months, when usage is higher, a pool pump can churn through $1,200 in energy costs.
The cost of maintaining a pool is falling due to improvements in technology – including things like solar pumps, which could significantly reduce running costs. But you still need to spend on the solar installation upfront.
Another running cost of owning a pool is complying with the relevant Queensland State Laws. All pools in Queensland must be registered with the Queensland Building and Construction Commission (QBCC), and receive a Pool Safety Certificate, which costs $39.35. If you are interested in buying a property with a pool we recommend visiting the QBCC’s website to see if the pool of the property is registered, as penalties for noncompliance can be heavy, including an on the spot fines. And if you’re selling a property with a pool – particularly an older pool – it’s important to make sure it complies, so it doesn’t put any potential buyers off.
3. Does a pool increase the value of a property
Here’s where it gets tricky. There is no definitive answer to this question because pools do not always add an increase to the value of a property proportional to their cost, or upfront investment.
Pool ownership is on the rise throughout Queensland, but installing a pool can be expensive and fully recouping this expense is not always possible. If you live in your home for a long period, a pool can end up paying for itself in fun and family enjoyment.
Overall, swimming pools are a personal preference. For some buyers they are a necessity, for others, they are a complete turnoff.
Pools are often more popular with growing families than they are with other buyer demographics. The increase in families moving to Toowoomba, combined with the competitive local housing market, could mean that a swimming pool is a savvy investment.
In our experience, a pool should only be chosen for lifestyle reasons, rather than any economic gain.
If you’d like to know more about what a pool means for your Toowoomba property, contact our team today.