With the tease of spring weather last week, I heard some homeowners talk about backyard pools. Should they get one on their own property? Unfortunately, there isn’t a simple answer. Those who are considering having a pool installed may have already realized the additional responsibility that comes with it. By installing a pool, homeowners may open their property to buyers seeking this extra feature, while alienating those who won’t consider such a property. As a Mississauga real estate agent for more than 25 years, this is what I believe you need to know about pools and property values in Mississauga.
A pool can be the center of a backyard oasis. Add a grilling area, a patio and exotic plants to create a lovely retreat. Homeowners who want to install a pool for their personal enjoyment will find that the benefits outweigh any drawbacks. This is the best reason to install a pool.
When it’s time to sell, a well-maintained pool and backyard environment are assets. However, installing a pool solely as an investment is not a wise decision. A backyard pool can increase the property value modestly, and it may affect the selling time. However, it’s almost impossible to recover the entire installation cost. Buyers who frequently consider homes with pools include retirees, middle-aged parents and parents of teens.
Some buyers and homeowners only see headaches and bills when they look at a backyard pool. These people will never consider a home that has an in-ground pool. In the Toronto area, pools can only be used for a small portion of the year, so they are not as popular or as valuable as they are in warmer climates. If a pool isn’t properly maintained, it can lower a home’s value. Pools also require secure fencing, additional insurance and regular maintenance. Those who are installing a pool as an investment should consider making improvements to the kitchen, bathroom and other essential rooms first.
Pools aren’t right for everyone. In the end, it’s a personal preference. However, above-ground pools are an option for those who would like an alternative that won’t have such a permanent effect on their home’s value or marketability. The risks and benefits of installing a pool depend on your home’s location and neighborhood, as well as geological features that could make installation more dangerous or costly.
For a personal evaluation, you may contact me at 905-502-1500. With more than 25 years of experience as a Mississauga real estate agent, I can provide you valuable information on how a backyard pool will affect your property’s value. You may also visit my Website at www.mcdadi.com.