AS TEMPERATURES soar across the state, the attraction of a backyard pool increases for both home owners and buyers.
How much value a pool adds to a home is dependent on a number of factors including property type, landscaping and garden size.
A swimming pool is likely to add greater value to a family home rather than a smaller property suited to downsizers.
If you’re thinking of installing a pool, look for a design that suits your backyard and doesn’t overwhelm your garden.
Given the variety of pool sizes and shapes now available, a pool can be incorporated even in areas where block sizes are decreasing.
A pool should complement a property with clever landscaping integrating indoor and outdoor living space.
Ensure safety barriers comply with local and state standards, particularly if the property is being rented out.
While a pool can add monetary advantages at sale time, home owners should be aware that the project may over-capitalise their home.
A local real estate agent will be able to provide home owners with advice on comparable sales in the area – both homes with and without a pool.
For vendors, the presentation and maintenance of your pool will go a long way to determining how much of an asset it is when it comes time to sell. A neglected pool can be an eyesore so ensure the pool is vacuumed and clear of leaves and other debris.
For those thinking of purchasing a home with an existing pool, it’s imperative to inspect barriers as proposed changes to pool fences could result in costly repairs or replacement later on. Prospective buyers can check with the local council as to whether the existing pool fence is compliant.
– Gil King is the CEO of the Real Estate Institute of Victoria.