We’ve just dropped a settlement gift off to our sellers with the beautiful home which we famously marketed with the pink flamingo in the pool. We are up for the RE/MAX marketing video of the year for this (click here for video) and had record numbers through – thanks to the blonde model, the pool and notably, the flamingo.
Our wonderful sellers also happened to purchase a property from us too without a pool. Their daughter immediately said “Daddy’s going to put in a big swimming pool for us!” Daddy looked a bit perplexed as he was busy loading up a trailer during the move. Which brings me to today’s blog post. DOES A POOL ADD VALUE TO A HOME?
The benefits are enormous – you can relax, it looks great visually and it provides entertainment for the young for hours on end in Summer. The most popular areas where pools are installed is in seaside locations (ironically). People that love water and living by water are often attracted to the idea of a pool. Before making a decision you can consider looking at the market in your area. Do many houses have swimming pools and who is your buyer likely to be? For many a pool has great value. However it all depends on the purchaser.
Chinese buyers, for example, don’t put great value on pools. Certain cultures are more likely to prefer pools. British and New Zealand families often have a preference for a home with a pool. Southern buyers that are moving to Brisbane (particularly with young families) have also heard rumours of evil summer days and hot nights, and “the humidity, we breathe” Gangajang style. This is Australia!
Certain buyers regard swimming pools as high maintenance as they can require resurfacing, have problems with mould, algae, filters/chlorinators breaking and pool equipment wearing out as well as the general maintenance cost. Investors do not wish to buy properties with swimming pools as they don’t add value to a property in winter, yet require pool maintenance. Also there is an associated risk of a pool fence failing and children drowning. During dry spells swimming pools are seen as a liability as water is a luxury.
If we ARE going to have a long hot summer, then in my opinion, a pool is an absolute MUST if you live in Brisbane. In fact, properties with swimming pools will possibly sell for a premium. Like properties, swimming pools are only worth what someone is prepared to pay for them.