Plunge into Paradise: Is a Pool the Perfect Addition to Your Alberta Home?

Plunge into Paradise: Is a Pool the Perfect Addition to Your Alberta Home?

We are looking at another hot Alberta summer, and the question arises again: Pool, yay or nay? There's nothing more satisfying than lounging around your pool on a sweltering day with a cocktail or a book in hand. The kids, meanwhile, are busy practicing their dives or just lolling about on pool floats. Having a pool has always been seen as an upscale bonus. But the naked truth is, some consideration it necessary, while others view it as a deal-breaker. If you're a homeowner who’s thinking about adding an in-ground pool and wonders whether it’s a wise investment and if it adds value to your property, continue reading to dive into the details.

There’s something undeniably luxurious about owning a home with a pool. Imagine having all the kids wading in the shallow end while you and the other parents sip on ice-cold refreshments under the shade of a deck gazebo. If you’ve found yourself drawn to a home on the market that boasts an inground water feature, you may be wondering if it’s worth the high price tag. Luckily, you’re not alone. Many Albertans face this very quandary. Here’s a list of the most important factors you should consider before making your decision to buy a house with a pool in Alberta or to add a pool to your current home.

Financial Implications

Cost of Installation and Maintenance

Let's dive into the costs. How much will this pool end up costing you, and could it potentially make you any money? The average cost to install an inground pool in Calgary ranges from $38,000 to $100,000, depending on the size and materials used. Maintenance is another significant cost. Outdoor pools can cost upwards of $1,200 annually, while indoor pools might run between $3,000 and $5,000 per year. Routine upkeep includes purchasing chemicals, cleaning equipment, and possibly hiring a maintenance contractor.

Value of Home

Homes with pools are often seen as luxury properties. A well-maintained pool in a great location can increase your home’s market value by approximately 7%. This increase can offset some of the maintenance costs, making it a financially viable option for some homeowners.

A Question of Climate

We should probably address the elephant in the room: Alberta’s northern climate. In a typical year, Alberta experiences an average of seven months of snow. That means a mere five months where you can fully use your swimming pool. It’s important to balance the maintenance costs with the amount of use you are going to get out of this water feature. Pool heaters and winterization are essential to extend the pool's usability. If the short swimming season is a concern, an indoor pool might be a better investment, offering year-round enjoyment without the harsh weather impact.

Beyond the Price Tag

Owning a pool offers numerous benefits beyond financial considerations:

• At-Home Workout Space: No need to commute to the gym when you have a pool at home.
• Social Gatherings: Pools are perfect for hosting get-togethers.
• Aesthetic Appeal: A pool can be a beautiful addition to your outdoor space.
• Therapeutic Benefits: Pools can provide a space for meditation, exercise, and relaxation.

At the end of the day, deciding to buy a home with a pool comes down to your lifestyle and preferences. If you love a home but aren’t keen on the pool, you can always consider filling it in. Your home should reflect your lifestyle and aesthetic.

For the best mortgage options on your dream home with a pool, contact your trusted mortgage broker to find out what rates you can access.

Financial Considerations:

Return on Investment

Outdoor Features for 2023, homeowners who add in-ground pools to their properties can expect to recoup about 56% of their investment. At most, your home's value might increase by 7% when it comes time to sell, according to HouseLogic. This all depends on various factors, including the neighborhood and climate.

Neighborhood Impact

If you live in a higher-end neighborhood where most homes have pools, not having one might make your home harder to sell. In warm climates like the Sun Belt region, pools are commonplace and can be an attractive feature for potential buyers. However, in colder areas where pools can only be used for a few months, the presence of a pool is a perk but not a necessity.

Pool Design and Maintenance:

Condition and Design

The condition and style of the pool are crucial for adding value. A well-maintained pool with amenities like patios, shade structures, and outdoor furniture can boost your home’s value. On the contrary, a neglected pool in need of repair can be an eyesore.

Property Size

A pool that fits well within the property's layout without consuming all available space can add value. Landscape professionals estimate the cost of building an in-ground pool at around $120,000 CAD. This includes an 18-foot-by-36-foot pool with gunite walls (mix of sand, water and cement), a three-foot to seven-foot depth, and a standard filtration system.

Additional Costs

An inground pool costs $110 to $330 CAD per square foot with installation or $35,000 to $140,000 CAD total, depending on the size and material. Custom upgrades like lights, slides, diving boards, heaters, and landscaping will cost extra.

Ongoing Expenses:

Monthly Maintenance

Pool maintenance could cost anywhere from $110 to $200 CAD a month, including cleaning, vacuuming, water testing, chemical adjustments, seasonal opening or closing, and necessary repairs. If you use your pool throughout the year, expect more upkeep.

Filtration and Heating

Choosing an efficient filtration pump that uses less energy can reduce costs. Heating options, such as gas heaters or electric heat pumps, cost $2,700 to $6,700 CAD. Annual electricity costs for running a circulating pool pump are about $300, while heating can add $700 to $1,100 CAD to your utility bills.

Winterizing

In cold climates, pools need to be winterized yearly, which includes lowering water levels, cleaning, clearing water lines, and installing a cover.

Safety and Insurance

Most states require safety features like fences, enclosures, and covers to prevent accidents. Pool fencing alone can cost from $6,700 to $20,000 CAD. Additionally, a pool will impact your homeowner's insurance policy and might increase annual property taxes.

Quality of Life

Adding a pool can significantly enhance your quality of life, providing a space for relaxation and special moments. Adding a pool gave homeowners a “joy score” of 10 on a scale of 1 to 10, indicating a significant impact on enjoyment and satisfaction. At least 90% of respondents reported increased enjoyment at home after adding a pool.

At the end of the day, this is your home. If you plan to put down some roots, have the money to spend, and have considered the pros and cons, then go ahead, plunge into it, and enjoy the swim.