Everyone wants to make friends with the neighbour on the street that has the backyard pool.
Why not BE that neighbour?!
During the pandemic, we’ve seen a huge surge in in-ground pool installations and in the real estate market.
What once wasn’t considered a great investment due to the maintenance costs involved, homes with pools are now in high demand and becoming a valuable selling feature.
Summer entertainment at its best
For many Ontarians, the summer weekend getaway isn’t an option this year, so having a backyard pool has become the next best thing to a “real” vacation.
Investing in the backyard renovations and pools is providing a relaxing escape and the option for fresh air and exercise without leaving home.
People are also realizing that putting money back into their home and pool space is a cheaper option than a family vacation away and provides a bigger return in the long run.
Will a pool increase the value of my home?
In today’s buying market, the short answer is yes — but it varies.
“In the past, there were as many people specifically looking for a pool as there were people who wouldn’t buy a house with a pool. But the pandemic changed that equation.” – Bill Golden
Houses with pools are now selling at a 7% to 15% increase depending where you live, mostly brought on by the pandemic restrictions.
Often pool ownership, and the value of a pool, is based on the home buyer’s lifestyle, their family activities, budget, and how much they think the pool will be used.
Do YOU enjoy the space and use it frequently? Does it showcase well? If you like spending time there, and have invested into it, likely buyers will too.
“For those interested in making some cash, all you need are a few photos of the space, your desired hourly price (and minimum stay), and then post the pool on Swimply. The company takes a small profit (15 per cent) and provides insurance for homeowners, making renting your pool a decent side gig.” – Harriette Halepis
How do I make my pool a selling feature?
Create An Inviting Space
Splurge on some modern patio furniture, umbrellas, accessories, potted flowers or plants, and storage to keep the area neat and inviting.
“Creating a sense of place within your backyard for entertaining will increase your home value as this is an amenity many people are looking for as they continue to work from home and entertain friends and family.” – Jenny Usaj, broker and co-owner of Usaj Realty
Add Ambient Lighting
Outdoor lighting can create a magical ambience in your yard. What’s more is that it can also increase your home’s curb appeal.
“You can expect to pay up to $5,000 [on outdoor lighting], but according to the NAR and NALP, you could see, on average, a 50 percent return on your investment.” – Glenda Taylor
Build A Deck
Decks used to be an afterthought when it came to buying a home, but now they’re considered a main feature of purchasing a backyard paradise.
“Decks are now hugely popular, and they can often bring in 75% ROI or more”.
Keep the water clean, free of debris, and at the appropriate chemical levels. Repair any damages to the pool deck, and surfaces. Proper safety fencing should be installed and in good working order.
“Basic maintenance will ensure that you maintain, and possibly even raise the value.”
List Your House At The Right Time
Just before (or during) peak pool season is typically the best time to sell your home. You want to hit the market when the weather (and iron) is hot.
Promote The Extras
Does your pool have fancy lighting, waterfalls, outdoor sound system, and other fun features? Be sure it’s in the real estate listing with good quality pictures to attract potential buyers.
Whether you are looking for a pool repair, maintenance, or backyard transformation, Pool Craft is happy to “dive” into making your home the perfect summer spot in 2022.