Everyone loves a pool. The hotter it gets, the more people want to take a dip in a nice cold swimming pool. Sure there’s the public pool, but we all know the germs lurking in there… Adding a pool to your home seems like a wonderful idea. Endless hours of fun and entertainment for the kids, a beautiful attraction to your backyard, and the perfect place to host summer parties. But is a pool really going to benefit you? Or is it a luxury that’s not quite what it’s cracked up to be?
To help determine whether or not a pool is worth it you’ll most likely focus on the cost. As far as installation goes, it varies based on a number of things. Above ground pools are exponentially cheaper than in-ground pools. While you’ll only spend around $7,000 for an above ground pool, you can expect to drop anywhere from $35,000 to $65,000 for an in-ground pool.
Let’s stay on the in-ground track. The lining of your pool will cause the price to fluctuate. Concrete and granite or other stone linings will bump the price well up over $40,000. Vinyl is a good mid-range material, but it can be ripped. Fiberglass is the cheapest of the pool linings. After you get the foundation sorted, then there are any additional features you want to add, such as a hot tub, fountains, waterfalls, slides, etc. Design and size make even more difference in your final cost.
Outside of installation, you have to consider the maintenance and insurance that’s going to go along with your newest addition. Having a pool increases the likelihood of an accident including broken bones and, unfortunately, death. You’ll have to increase your liability insurance which will affect your monthly costs, but not drastically. Maintenance, on the other hand, will drive up your monthly overhead. Hiring a professional to care for your pool is wonderful; you don’t have to worry about it (and there’s a lot that goes on including cleaning, balancing the pH, and checking filters, motors, etc.) You can expect to add another $1200 or more to your annual costs with this service. You can opt to maintain your pool yourself and bring that tab down, but you’re still responsible for the cost of supplies as well as the amount of time it will require to perform the duties.
Lastly, where you live will affect costs. If you live in a moderate climate like SoCal, you’ll probably not need a pool cover (avg. $600) or to ever drain it, especially if you’ve added a heater to keep it running year-round. But if you live in a place where regular weather happens, you’ll need to drain and fill it every season which adds another $150 – $300 on average.
The absolute best way to determine whether or not adding a pool to your backyard is with an appraisal. Schedule an appointment and have the appraiser assess the value both with and without a pool. The climate and your neighbors will mostly affect whether or not the investment makes sense for you and your house. The overall return on a pool is only about 7%. But if it’s something you’ve always wanted and you can afford, then creating a perfect little oasis for you and your family to enjoy will be worth it. Afterall, there’s nothing better than relaxing at the pool.