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Are you ready to take the plunge?

Wednesday, July 23, 2014 @ 12:00 AM
Posted By: Joseph Giovinazzo

 

In a perfect world, every home would come equipped with a self-cleaning, maintenance-free swimming pool that was always the perfect temperature and disappeared any time it wasn't in use. Wouldn't that be great? 

While a lovely addition to the backyard, pools are also costly, a lot of work and a safety hazard to babies and young children. So why on earth would anyone want one? Talk to some pool owners and they wouldn't have it any other way. 

When it comes to adding a pool to your backyard, some serious consideration is necessary. As with any home improvement project, your first question should be "will I see a return on my investment (ROI)?" When it comes to a swimming pool, the answer is always no. The Appraisal Institute of Canada ranks a pool with a 10-40 percent ROI. Not very impressive. 

So why don't buyers see the value in a pricey swimming pool? We've already mentioned the work involved, with the opening and closing every spring and fall, regular cleanings and necessary upkeep.  And it seems that every summer we are horrified with a news story of a toddler drowning in the family pool. No matter how many precautions are taken, a curious little person can be resourceful. Buying a home with a pool also means higher energy costs. Not only will your electric bill soar every summer, so will your maintenance expenses. It's estimated that pools cost approximately $1,000 to $2,000 per year to operate.  Having a pool also raises your homeowner's insurance rates.

Of course, there are plenty of benefits to owning a home with a pool. With the recent trend in extending our living space outdoors, the sparkle of blue water and the sound of splashing and laughter that emanates from this luxury item can't be beat. If you love to entertain, there's nothing better than hosting pool parties for family and neighbours. Pools are great for cooling down on a hot day and keeping kids active during their summer holidays. 

At the end of the day, it's a personal choice. It's an expense that won't be recouped when it comes time to sell, but the hours of enjoyment your family and friends get from it may make it worthwhile in your books.

Category: Home Improvement

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