The great Australian dream of having a pool in the backyard may be not be all that it’s cracked up to be.

Property figures suggest that while a pool may be a good asset in the right location, it does not necessarily add value to a property.

Real Estate Institute of Victoria communications manager Paul Bird says pools can be a good addition for a home, “particularly in areas with a high proportion of families”.

“A pool is considered to add value as long as it doesn’t overwhelm the garden,” he says.

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But the REIV spokesman points out that while pools can be good for homeowners, they come with a high level of responsibility.

“Owners must ensure that they have secure fencing, in line with local and state by-laws – and owners must monitor their use when younger children are in the vicinity,” he warns.

PRDnationwide managing director Tony Brasier says the value of a pool in a property really depends on where the home is located.

“In a warm climate, [for a property] that is a long distance from a beach or swimming location, greater emphasis may be on having a pool,” he says.

There’s no denying that pools are glam. Source: Shutterstock

“Beachside locations may be less in demand for homes with pools. In cool climate areas, pools would need to be heated/indoors to be attractive and add value.”

The PRD chief says pools do add to the value of a home – provided the buyer really wants one.

“Although you would, in most cases, improve the value of the home incrementally if it has a pool, you would not increase the value of the home by the total cost of a pool and the associated landscaping,” Mr Brasier says.

“They do require a reasonable amount of maintenance [and cost].”

He adds that if a family specifically wants a pool “they will pay more for the house, but it wouldn’t represent replacement cost of the pool”.

“It’s not dissimilar to a lot of other features like a triple garage versus a double garage or a large storage shed in the back yard.

“If you specifically want these things you are prepared to pay a little extra to satisfy your requirement. If you are selling you are going to get a higher price from the right buyer.”

This story was brought to you by The New Daily using data and other information from its real estate content partner, realestateVIEW.com.au.
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