How much value does a pool add to your property?

How much value does a pool add to your property?

Posted on Thursday, March 06 2014 at 9:54 AM

Thinking of putting a pool in your backyard in Melbourne? It might seem like a lot of money to pay for a large hole in the ground, but according to buyers’ agency firm, Secret Agent, any mini blue lagoon can increase your home’s value by as much as 30 per cent.

A report on
pools, written by Cosmo McIntyre and Richard Rossmann, says exactly how much
value a pool can add depends on where you’re diving.

“For the right
property and location, a pool can be a wonderful addition, as well as a way to
add value,” the report says.

“The lowest
expected value created by a pool is over $140,000, making it worth the initial

Pools cost about
$1000 a year in electricity, chemicals and cleaning expenses. Factor in general
wear and tear and you could be up for a lot more.

However, in a
suburb like Kew, $650,000 is the minimum amount a three-bedroom house has sold
for. Houses that feature a pool are expected to sell for $450,000 more, which
is a premium of about 30 per cent.

Conversely, in
Hawthorn, a pool is expected to add only $180,000 to the value of a property,
even though the square metre rate is similar to that of Kew.

So a pool’s value
is much more complex than dollars and cents and does seem to depend on what
suburb the property is in.

“With a swimming
pool, the majority of houses gained between 10 and 16 per cent,” the report

“Added value was
as low as six per cent in Camberwell, or as high as 35 per cent in Hawthorn

Article source: