Australians love water and the backyard pool has become a highly sought-after item in recent years.
Pools can be an attractive feature to a house and the idea of being able to jump into nice cool water on one of Australia’s many 40-degree days is appealing.
But with pools come costs – there’s the pool itself, fencing, and maintenance. On top of this, there are those long winter months in which the pool doesn’t get used. So from the perspective of house value, is it all worth it?
Sydney-based home loan platform Lendi recently surveyed 1,000 Australians to find out consumers’ attitudes towards pools.
When asked if they would pay more for a house with a pool, the majority of respondents said no (39.8%). This was followed by people who would pay an extra $10,000 for a house with a pool (15.7%) and those that would pay $20,000 (10.8%).
Almost half of men (44.9%) said they’d pay up to $20,000 extra for a house with a pool, which was significantly more than women who felt a pool was worth that much (34.6%).
According to Home Improvement Pages, pools range in cost from between $25,000 to over $100,000. The average is around $50,000.
Almost a seventh of respondents to Lendi’s survey said they’d pay $50,000 or more extra for a house with a pool.
Using the results of this survey as a guide, the answer to the above question would seem to be “no”. Having said that, pools can be a fantastic addition to the right property, and there are cases in which a pool can increase value beyond the cost of installation.