You may have heard a lot about pools and the way they can boost a regular home’s value. If so, you might be interested in installing your own pool at your home to get some of the benefits. Read on to see a few points that you need to consider in order to make sure that an inground pool is an investment that you want to make. These considerations should help you answer the question, ‘is an inground pool a good investment?’
The Installation Cost
The first and most important consideration to make is the cost that it will take to construct an inground pool. This should help you answer the question of ‘is an inground pool a good investment?’ You can find the answer to this question by speaking to pool contractors in your area.
It’s best to approach a few and listen to their insights. While doing this, remember that different pool contractors will have different fees and charges for their services. As a rule, there’s a price range within which all professionals should fall. If a quote sounds like it’s too good to be true, then it most likely is.
Another factor that may affect the overall installation cost of an inground pool is the method and materials that will be used in its construction. For instance, you want to find out whether a certain pool liner manufacturer has a better deal than the others. Find the most cost-effective method that’s also going to yield a durable outcome. This will inform you about the details that will be used to calculate the cost of your inground pool and help you answer the question ‘is an inground pool a good investment?’
The Required Maintenance
Another factor that you need to consider in order to accurately answer the question ‘is an inground pool a good investment?’ is the maintenance that one will need. It’s general knowledge that pools can be a lot of work to maintain.
That said, you should understand that an inground pool will come with a number of parts and accessories, including under deck drainage systems. These may each need a specific type of maintenance, with the average being cleaning and servicing after a given duration of time.
Another cost that’s typical for pools is the cost of the chemical that’s used to maintain the pH levels of the pool. This is a repeat expense and may have an average cost of around $500 every year.
You may also incur an additional expense on your electricity bill as a result of the type of pool pump you have. More durable pumps may cost more up front, but they could also save you money by being more energy-efficient than others. This is an important consideration to make.
If you intend to have a heated pool, the electrical cost goes up even higher. You also need to pay for insurance for your pool, the same as you would for trampolines and some landscaping designs.
Finally, you need to spare some money for pool repair every time that your pool develops an issue. This will depend on the specific issue, and you could lower it by making sure you stay on top of pool maintenance.
The Effect on Your Home’s Value
As mentioned above, a pool will boost the value of your home without a doubt. This is one of the things that make it easier to respond to the question, ‘is an inground pool a good investment?’
It’s good to note that an inground pool can increase the value of your home not just by its mere presence, but also as a result of the actions you’ll take when you have it. For example, you may need to upgrade your home’s landscape to make it fit the pool better. To this end, you may have to look into an electric fertilizer spreader and other tools and equipment that will make it easier to take care of your landscape’s new requirements.
For an inground pool to have the best effect on your property, it needs to be maintained well and also have a great design. Failure to maintain your inground pool can see the concrete around it crack and start to leak into your property, leading to a number of issues including problems with septic pumping.
Additionally, it shouldn’t take up too much space in your yard, otherwise it becomes a nuisance. While it may be a bit hard to put a specific dollar price on the profits you stand to get from adding a pool to your property because of the variables that exist, it’s a major attraction for home buyers for the most part.
The Impact on Your Family
Your family will also be impacted when you add an inground pool to your home. This may make it clearer for you to see the positive answers to the question, ‘is an inground pool a good investment?’ That’s because you’ll consider the size of your family as well as your needs.
While you know by now that an inground pool can raise the value of your home in physical terms, you may be pleased to learn that it has other value-boosting aspects. One of these is the social value that your family will enjoy as a result of adding a pool to your home. Pools are generally associated with luxury and so having one can give your home a lavish feel and appearance.
There’s no doubt about the fact that your family will love having a pool at home. That’s because whenever it gets hot and they want to cool down, they can simply step outside the house. It won’t be necessary to take a long trip to a location where they’ll share a pool.
You can also upgrade your parties considerably. Your family and friends will all be happy to come visiting since they’ll know that they can spend time in or around the swimming pool. You can even spend quality time with your neighbors who may not have a pool of their own, strengthening the feeling of community that you share with them. Staycations will also be a lot more fun and entertaining, possibly helping you to save a good amount of money.
The Factors Impacting Its Value
While it’s been repeated severely that a pool can boost the value of your home, it’s important to know that certain conditions must be met first. These should show you the details of the answer to the question, ‘is an inground pool a good investment?’
The first thing that will have an impact on the value of your pool is the state that it’s in. You need to keep your pool clean and functioning well if you want to enjoy maximum value from it. This is why you must think about the cost of maintaining a pool before deciding that you can afford one.
Another factor is the region in which your home is. For obvious reasons, in regions where hot seasons are shorter than cool ones, a pool won’t be a major point of attraction for people intending to buy a home. In hotter areas, on the other hand, a pool will be a big deal.
The size of your pool is another factor that will impact its conceived value. This is because, while a pool is an amazing addition to the home, it needs to leave room in the yard for other activities. If the pool is so large that it consumes almost the entire yard, this may take away from its value.
Your pool’s age will also impact the value it has on your home. As a result of the additional maintenance that an old pool will need and the possibility of it failing when it reaches the end of its lifespan, age matters. This means that the older your pool gets, the less value it will add to your home. In some instances, an old pool could actually be a liability as it will call for extensive repairs or demolition.
The Considerations Based on Your Home’s Region
The area where your home is, both the general region and the specific neighborhood, have an impact on the answer to the question of ‘is an inground pool a good investment?’ This is due to a number of considerations as discussed below.
First of all, homes in a region that experiences longer spells of cold weather may not consider an inground pool to be beneficial. This is because of the obvious reason that the pool won’t have much demand and won’t see a lot of use. In warmer climates, a pool is a valuable addition to the home, since it may be in demand for a long time, or even for the whole year.
The climate may also dictate that you require landscape pest control, depending on the details of the specific area you live in. If you’re likely to have pests invade your home, you may need to put measures to stop them in place. Some of these measures, including chemical pest control, may not be conducive for use around pools as a result of the implications for safety.
If your home is in a region with a complex topography, you may also need to do a lot of work to install a pool and maintain it. In this case, you may need to hire a team of landscapers to come to your home and advise you on the best way to construct your pool. You may also have to use a special landscaping material that could be costly or hard to maintain.
Finally, if your home’s neighborhood is high-end and almost every home has a pool, yours may be deemed as less attractive if you don’t have a pool. As a result, it’s a good idea for you to install a pool in your yard if the others in your neighborhood all have one.
Pros and Cons
Last but not least are the pros and cons you could get as a result of having an inground pool in your home. They may help clarify for you the answer to the question ‘is an inground pool a good investment?’ That’s because if the cons outweigh the pros, then you may be better off not installing a pool.
Some of the pros of installing an inground pool in your home include the following:
If you’re one of a few people or even the only person in your neighborhood with a pool, you may become extremely popular. You’ll practically automatically earn the reputation of throwing the coolest parties.
You’ll also save time and money on going to a local pool area every time you need to cool down. Your family will enjoy the convenience, privacy, and fun of having a pool at home.
Finally, with a pool at home, you may be able to cut down on cooling costs for your home when it gets particularly hot. This is because you can simply head to the yard and spend some time in the pool.
As for the cons you may face, some of them are:
You may not have the time or desire to spend time in the pool as much as your children will. This means that if you don’t have children, it may not be worthwhile installing one.
You may also make your home have a higher likelihood of accidents and injuries, especially for smaller children. This will see you having to pay higher premiums for your insurance.
Finally, you may not make back all your money when you sell your home. It may also be harder to sell it if the home is in a cooler region.
Based on this information, what do you think; is an inground pool a good investment? If you feel like you can afford to get and maintain one, then think about the other details outlined above. This can help you make a decision that you’re not likely to regret.