It’s part of the American Dream, right? Married with two and a half kids, owning a home with a white picket fence and swimming pool for the kids. Growing up, in the summer, the kid with a pool in his or her backyard was the envy of all the neighborhood. Nothing says summer and luxury more than your own private pool. But are they really all they’re cracked up to be? Let’s deep dive into the pros and cons of owning a pool and how it will affect your life from the standpoint of overhead compared to luxury.
Living The Lavish Life
If there’s anything we learned from watching Lifestyles of the Rich and Famous it’s that a.) there are a lot of people with too much money in this world, and b.) if you don’t have a pool are you even soaking up all the glory life has to offer? It’s true. Pools might be much sought after during those sweltering summer months, but public pools often feel more like public restrooms. A little crowded, uncontrollable, and a questionable ratio of water to urine. A pool in your backyard, however, is the height of opulence.
There’s only the noise you and your neighbors create. You know who and what’s going in it. You know how often it gets cleaned. And lastly, you have it all to yourself. Whether it’s the feel of floating across the pool with a cold beverage at arm’s reach, or the delicate sounds water has a way of simply melting away the stresses of the day and bringing us back to tranquility.
Obviously there’s the added visual and mental value from having a pool. But determining whether the cost of installing a pool in your home will actually add value can be tricky. For starters, if you live in an area where the pool can’t be used but only 3 months out of the year, then the cost of installation coupled with the maintenance will not do much to add actual value.
The best way to decide whether or not to add a pool to the mix is to consult the market. Determine the ROI (Return On Investment) by dividing the added value by the cost of the investment. If having a pool boosts the value of your home from $250,000 to $275,000 but the cost of the pool is anything more than $25,000 then you’re at a financial loss.
Keeping Up Appearances (And Safety)
After you’ve paid to install your pool (and all the fancy extras that go with it; cabana, hot tub, fire pit, waterfalls, and swim-up bar) the hits to your wallet don’t stop. Regular maintenance will add another hundred or so to your monthly overhead. You can cut some costs by cleaning, shocking, and balancing the pool yourself, but this also adds another set of chores to perform every week.
If your climate isn’t year-round pool friendly, you’ll have to drain and fill it every season, keep it protected with a durable cover, and replace liners, filters, and pumps as they wear and tear. This again racks up the costs, and uses up a very valuable resource.
The extra care and maintenance may not deter you from breaking ground on a pool for your backyard. There are plenty of reasons to jump head first into a pool renovation. Endless entertainment for your kids, the perfect setting for big family and friends gatherings, and the mental perks of having a zen moment just a few steps out the back door. Even if it doesn’t add monetary value to your property, a pool can enrich your life for summers to come.