Summer Time and Pool Envy

It’s officially summer today, June 21st, and most pools have been open since Memorial Day. For those of us who live in communities with pools we eagerly await the first day of its opening. For those of us who own pools we are on a long roster of peers waiting their turn to be “opened” by local pool maintenance vendors; pH testing, possible repairs and ensuring the heater (if we’re so lucky!) works are an annual process, and expense. For those of us whose neighbors have pools and share their luxury, we are peering over fences, checking to see if the cover has been pulled back and the water is glittering in the sunshine.

But what about those of us who don’t have quick access to a pool, regardless of source? It’s easy to look into your backyard and envision your own pool, maybe a cabana, waterfall and lounge chairs to round out the fantasy. Is it worth the cost, and is it really an investment? Will the value of your home increase, or just the value of your personal enjoyment?

The answer is, it depends. Do all your neighbors have pools? Do buyers looking in your area expect homes to have pools? Do you live in a region where the outdoors can be enjoyed for a period long enough to justify the cost? Or do you live somewhere that chilly temperatures are so rare you find yourself outdoors nearly year-round?

In most cases, buying a pool is like buying a car – you’ll likely never get the full cost back. One estimate indicates a home’s value may only increase by 7%, and that’s if conditions are favorable for the seller when it comes time to sell the home. Some considerations include not only the preceding questions but also whether your yard is large enough to accommodate a pool and still have yard left over, the style of pool, and the age and condition of the pool at time of resale.

Let’s consider the cost of installing and maintaining a pool. The average cost in the U.S. to install, equip and fill a 600 square foot concrete pool starts at $30,000. Add fences (required in many states), lighting and landscaping, and costs begin to escalate and quickly approach $100,000. The material of the pool impacts initial costs, with vinyl liners reducing the cost; however, liners must be replaced in about 10 years. Filtration systems cost about $500 for variable-speed pumps, which are more energy efficient than single speed pumps.

Maintaining the proper pH, alkalinity and calcium levels is an additional cost, estimated at about $600 annually in a seasonal climate, and $15-$25 per week in a year-round climate. Cleaning the pool requires vacuuming, which a robot can accomplish for a cost of $500-$800. For a pool that must be opened and closed each year, cleaning is about $500 per event if done by a professional.

Finally, installing a pool can increase home insurance costs, and an underwriter may require you fence the pool. In some areas installing a pool increases property taxes, but not necessarily home value. As a result, a recommended budget for the installation of a pool is 10%-15% of what you paid for your home.

Ultimately, installing a pool is a very personal decision. While you likely will not realize a corresponding increase in home value, the time you spend at your home may exponentially increase in quality and enjoyment if you choose to install a pool.

 

Header image sourced from Blue Haven Pools.