If are wondering if the price of installing and maintaining a swimming pool as part of your Kelowna home renovations will give you a return or increase on the re-sale value of your home, the answer is maybe. It depends on a number of factors.
But if you are wondering if you and your family will enjoy your pool for years to come, the answer is a definite yes.
Let’s look at some of the reasons why:
Yes, weather does play a big part on whether a pool adds value to your home.
With its hot, dry and long summers, Kelowna is one of the top 10 cities for pools per capita in Canada. Pools are attractive to Kelowna homeowners, especially ones with kids, as you can keep them open for a longer season and you will likely use them on a daily basis in the summer. They also serve as a focal point for entertaining, which is also attractive to buyers when looking for a home, which leads us to our next point.
Kelowna is one of the fastest growing communities in Canada and both new and existing homes are at a premium, as inventory is in high demand. Adding a pool as part of your Kelowna home renovations could attract those new buyers. However, it tends to be from middle-to-high-end homes where homeowners see a return on their investments from building a pool.
How much to build a pool is another factor: Homes that are valued between $300,00O to $400,000 that spend from $30,000 to $50,000 on a pool are likely not going to make their money back on the re-sell of their home. However, a pool in a home worth from $500,000 up to $1 million can fetch up to a 50 per cent return, while a home worth more than $1 million can be much closer to the 70-to-80 per cent range.
The monetary value of adding a pool to your home is one factor to consider, but there is another important other point to also take into consideration, and that’s the kind of recreational and family time having a pool serves.
A number of Kelowna residents spend their money on RVs, boats and big family vacations, where the depreciation is much higher. The recreational value of having a residential pool as part of your Kelowna home renovations and the time families will spend in their backyards, as opposed to investing money in other recreational pursuits, is a major factor when considering re-sell value.
With the kind of swimming pools Kelowna residents can build, you can have a vacation in your very own backyard.
For more on how a pool can add value to your lifestyle, visit our blog, 5 Reasons Why Kelowna Pools are Great for a Good Workout.
Rafter 4K Contracting is a trusted company that provides Kelowna home renovations, and specializes in vinyl-lined pools in all shapes and sizes that will add value to your home in more ways that one.