Summer is coming and you already know it's going to be a hot one this year. The Gold Coast usually sees average temperatures in the high 20s causing Australians to crank the air conditioning. Unfortunately, this always equates in high energy bills at the end of the summer.
According to Canstar Blue, these bills can cost as much as $32 a month, which sounds insignificant, but those charges can really add up. In a perfect world, you wouldn't have to retreat inside to escape the heat – you'd instead go outside and jump in the pool!
But you don't have a pool, so you've decided that this is the summer you should build one. It's only going to increase the value of your property in the long run, right? Well, not always. Sometimes, adding a pool to your home can actually decrease the value of your home. Let's explore what makes building a pool a good investment versus a bad one.
When a pool will be a good investment
The first thing to consider is, of course, the climate! Do you live in a place that is warm or very hot during the summer? Living in the Gold Coast, you can check yes to this box. The next thing you have to consider isn't the geographic location of your house, but the location of your neighbourhood.
Consider the value of the neighbourhood itself. People who can afford the upkeep of a pool likely are not going to move to a neighbourhood that is below their price range. Conversely, people who are moving to a less expensive area probably can't afford the pool. Either way, you've potentially decreased the value of your home as you've alienated two groups of people. Consider your neighbours during this decision making process. Do many of them have pools? If your house is one of the only ones without a pool on the block, then your home will look less attractive to buyers.
When a pool will be a bad investment
A pool is a bad investment when you are going to have to spend a lot of money on the maintenance of it. Look around your property. If there are a lot of seasonal trees, or if the yard is in a lot of shade, a pool is probably going to be a lot of work. You also have to be wary of the trees on the property. Growing trees means growing roots – roots that could grow right into the pool's lining, creating costly damages.
Are you thinking about moving soon or staying put? If you're planning on staying in your home and enjoying the pool for an unforeseen length of time, then it might not be a good idea to build for value's sake. Pools inevitably decrease in condition over time. New property owners will therefore likely ask when the pool was put in, and when it was last renovated. If it's been 15 years since you last touched up the lining, then the pool probably isn't going to be worth it to new owners, so they'll move on.
No matter what, if you decide to build a pool, make sure it follows Queensland's government regulations. If you have any more questions about if a pool is going to be worth your money, contact the team here at Ray White Surfers Paradise. We'll help you decide if you want to put a pool in, or, if it's a bad idea, we'll help you find a place that already has a pool, ready and waiting for you to jump in this summer!