Are you contemplating whether to invest in a swimming pool for your home? By the end of this article, you’ll understand why swimming pools are considered the ultimate home investment; the secret lies in their potential to enhance your quality of life and amplify the value of your property. More importantly, we will focus on how much a swimming pool actually costs. So, ready to dive in? Let’s plunge into it.
Swimming pools have been synonymous with luxury and relaxation since time immemorial. Therefore, having a swimming pool on your property exudes an unmatched appeal.
Cost of Installing a Swimming Pool
The cost of installing a swimming pool significantly depends on various factors, including the size, shape, material, type (in-ground or above-ground), location, and the features you prefer (lighting systems, heating systems, pool decking, etc.).
Typically, above-ground pool installations cost less than in-ground types. For example, spending between $55,000 and $75,000 on an in-ground pool installation is possible. In contrast, a $1,500 to $5,000 budget is sufficient for an above-ground pool (not including decking, furnishings, and other features). Some high-end in-ground pools can easily breach the $100,000 mark!
Costs of Maintaining a Swimming Pool
Maintenance is a critical factor in owning a swimming pool. First, there are regular pool services, including cleaning and chemical balancing. On the other hand, repair costs are also a significant consideration. They vary depending on the issue and whether it requires minor or major repairs.
For the energy-conscious, expenses go beyond just the maintenance. The pool pump and heating systems contribute to higher electricity bills, and there’s more spent on water to refill your pool.
The Value Factor
Despite the costs involved, swimming pools are a high-value investment. First, they offer fantastic recreational possibilities for the family. It is also a healthy outlet for exercise. However, the real gem is the potential to enhance your property valuation.
Some realtors have observed that an in-ground pool can increase your home’s value by 7-8%. In some cases, home buyers have expressed a willingness to spend $50,000 or more (above the asking price!) for a home with a swimming pool. Beyond that, homes with bespoke or custom-designed swimming pools often cause a price increase of $100K to 200K.
Moreover, when discussing return on investment (ROI), properties with swimming pools tend to sell faster, indicating a higher demand. So not only do swimming pools add to your quality of life, but they also make a solid financial contribution when it’s time to sell your home.
Despite the subjective nature of a swimming pool’s benefits, they are crucial to pay attention to. There’s nothing like lounging poolside on a sweltering day or throwing a unique pool party for friends. Furthermore, swimming is one of the best full-body workout options, improving cardiovascular health and overall physical fitness. A swimming pool can transform a regular house into a staycation haven in your backyard.
The Bottom Line
With all factors in perspective, swimming pools can be a significant investment. Between installation, maintenance, and running costs, swimming pools might seem like an expensive liability. However, with the tangible increase in property value and the qualitative lifestyle benefits, having a swimming pool at home provides a sense of enjoyment and luxury that pays for itself.
From the health benefits of swimming to the social and aesthetic advantages, a swimming pool is an investment that continues to deliver returns year after year. Thus, while you shouldn’t overlook the financial implications, the overall return on a swimming pool investment is surprisingly high. So, contact a reputable pool installation expert and get ready to take a refreshing plunge into the ultimate home investment.