As summer ramps up, perhaps you or your family are considering a swimming pool installation of your own. A pool can be a great investment, provided it’s handled correctly. While you are considering, make sure you weigh the swimming pool installation cost and maintenance against the actual value it can add to your home. Here are some of the factors to consider before you make a decision.
Swimming pool installation cost
First, you’ll want to make sure you can afford the initial installation of the pool. Do your research for pool costs in your area by first deciding exactly what type of pool you’ll want and then by contacting contractors for estimates. You may also need to factor in any type of yard maintenance, such as grading or tree removal, that may be necessary before your pool is installed.
Of course, pool installation costs will depend on the type of pool you choose. On average, it costs around $30,000 to install, equip and fill a 600-square-foot concrete pool. Then you’ll have to add in any extras you may want, such as safety fences, waterfalls, lighting or landscaping. All in, it is not uncommon for a pool installation to cost around $100,000.
Swimming pool maintenance costs
Next, account for all monthly and yearly maintenance costs to be sure they fit into your budget. One area you shouldn’t ignore is the increased utility costs. Filtration pumps will help keep your pool water maintained and are often the part that sucks the most energy. It’s important to pay a little extra to get the most energy-efficient pump you can in order to save on monthly expenses. These pumps typically run about $500 up front, but you may be able to use some rebates to cut the cost.
Whether to heat your pool is another area to consider the long-term expenses. Gas heaters are less expensive than electrical initially but often have the highest operation and maintenance costs. Electric heat pumps often extract heat from surrounding air and transfer it to the water, requiring less energy to maintain. Consider other initial investments that can help save you on long-term expenses, such as a solar blanket that will trap heat.
On another hand, having a pool at home can provide your family a way of staying cool on hot summer days and help save money on air conditioning costs during a heatwave.
Home resell value
Having a swimming pool can be a boon to your social life, giving you a way to entertain your family and friends and can be a positive selling point when you are ready to sell your home. If your neighborhood is higher-end, and many neighbors have pools, not having a pool could make your home harder to sell.
Having a pool in warmer climates, such as Florida or Hawaii, can almost certainly help your home’s resell value. But you’ll have to be sure you have enough room left in to accommodate other activities. You certainly should not install a pool in your backyard if it takes up most of the room there.
That said, there is no evidence that a pool actually increases your home’s resell value. Under some circumstances, it may make your home more difficult to sell. Here are some factors that might hurt your resell value:
The pool is old
The pool is in poor condition
The pool doesn’t match the home or neighborhood style
How much privacy is available
Your home is in a cooler area of the country where the pool can be used less throughout the year
Just remember that a pool will not fit every buyer’s lifestyle, so making the choice to install a pool can limit your buyer options.
At the end of the day, your home is yours to do with as you will. There are certainly pros and cons to installing a private swimming pool, and you want to consider all the costs — both short- and long-term — before making a decision.