How a Swimming Pool Adds Value to Your Property
Homes in Australia have experienced a healthy growth in their costs over the past few years, and thanks to government grants for new home buyers there’s never been a better time to buy a property before prices skyrocket out of control. Many people put this down to an influx of international buyers, but whatever the cause – those that own a property right now will undoubtedly stand to benefit from their assets when it comes time to selling in the future.
Even the smallest homes purchased decades ago have seen a huge increase in their values as of 2016, so it’s only logical that the value of larger properties have experienced a greater increase (in many instances tens of thousands of dollars at the minimum). It’s not just the properties themselves that have seen a healthy increase in their value; there’s also the ability to enhance this amount by modifying and adding particular features.
There are many ways to improve the value of a property, from the renovation of particular rooms to installing garages, sheds and other features. Of these features, one stands head and shoulders above the rest in terms of investment return – and that’s a swimming pool. If you’re keen to learn how a swimming pool adds value to your property, then take a look at these facts below.
A value that doesn’t depreciate over time
Once a pool is installed and as long as it’s kept in a functional condition – it will never lose its cost. Furthermore, this value will often be far more than you originally paid to have it constructed. This means that if you paid $10’000 to have it built, when it comes to selling your property it could add anywhere between $20’000 and $30’000 to the value.
There’s no need to let it gather dust
It’s not like purchasing an expensive piece of jewellery at a low cost and having to avoid wearing it to ensure that it retains its value; a pool can be enjoyed from the offset. Family, friends and even neighbours can all take advantage of the cool water in the summer and then it’s pretty easy to maintain throughout the rest of the year with a pump and a couple of chemical cleaning agents.
An increase to the market value of your home
It’s all but impossible to predict how property valuations will rise and fall as time goes by, but what is guaranteed is that a pool will always add a substantial cost to the price of a house. This means that even if the valuation of your accommodation was to drop by several thousand dollars, the presence of a pool would cater to this extensively – in many cases increasing the value beyond properties in the same location that don’t feature a swimming area.