The numbers are in and there’s no doubt about it, Aussies love their swimming pools. Over 1.2 million Australian households currently enjoy the luxury of a pool, making us the highest rate in the world for pool ownership (per capita).
It’s not hard to see why when you consider all the lifestyle benefits, providing lifelong memories and childhoods filled with fun in the sun. But for modern-day homeowners, the question is does a pool really add value to your home?
The seemingly obvious answer is, yes. Who doesn’t love a Sunday afternoon spent lazing poolside? But the actual value proposition may vary significantly depending on a number of factors like location, climate, property type, and the demographic of buyers in your local area.
Ironically, one of the best reasons to have a pool from a financial perspective is if you live near the beach. Waterside living is a big drawcard for many buyers, and those who are attracted to the beachside lifestyle are likely to be willing to pay more for a home with a pool. Likewise, living in a warm climate works to your advantage. Pool ownership is highest in areas that frequently see the mercury rising – in Perth, for example, 19% of households have a swimming pool, closely followed by 18% in Brisbane while in Hobart just 4% of households have a swimming pool.
As you’d expect, there’s more demand for swimming pools in areas where pool ownership is highest. If you live in an area where the demographic is skewed towards families with younger children, a swimming pool is an added incentive that would undoubtedly boost your property’s appeal and value.
More exclusive and higher-end properties also tend to feature a pool as generally when buyers are spending more, they expect more; and a pool can often top the list of prerequisites.
In the brave new post-Covid-19 world, trends are showing more value than ever before is being placed on where people live and spend the majority of their time. With International travel restrictions in place for the foreseeable future, disposable income is now being spent on maintenance and upgrades to make these spaces more liveable. The term “as safe as houses” has never been truer, with confidence in the residential property market showing a massive resurgence. Injecting cash into your property, now more than ever, is being seen as a safe long term investment.
With that being said, how do you actually place a dollar value on something that is so subjective? We put the question to some top real estate agents across the country, removing all the variables and factors mentioned above. In broad terms, the consensus was that every dollar spent on your swimming pool will return two dollars, when it comes time to sell. When you consider all the lifestyle factors and the joy we know a pool can bring, that’s a bloody good investment.
