Pools, Hot Tubs, Exercise Space: Could these added features serve to increase the value of a home in 2022?

Over the past few weeks, we have been discussing ways to add value to your property through outdoor projects, ranging from fire pits, waterfalls, manicured lawns, lighting, outdoor kitchens, and more. Improving your property outwards to maximize value rather than focusing on the interior is a great place for property owners to start.?

One of the most obvious outdoor projects is an outdoor pool. As we have briefly discussed in the past, pools can add greatly to property value. Of course, just how much it will pay off depends on a number of things.?

First of all, there are different options of materials for your pool which vary in cost. A fibreglass lining is the least expensive long-term option and the most popular. Realtor.com says they average in cost at around $30,000. This material is cited to be durable, cheaper to maintain, cheap to own, and fast to install. Fibreglass is also the best option if you opt for saltwater, due to its resistance to corrosion. The only downside to the fibreglass installment is that it has a higher cost initially as compared to vinyl. However, considering long-term maintenance and ownership, fibreglass comes out to be cheaper. Vinyl pools cost around $27,000 initially, however, maintenance and ownership does not prove to save money. Vinyl pools require frequent replacements of the lining at around 8-10 years. Vinyl has also not shown to be as resilient as fibreglass against various water types. Finally, concrete pools come out to be the most expensive, with a cost of around $52,000. This type is not only more expensive to install but is more expensive down the road due to maintenance. It is reported to be durable on the surface, similar to fibreglass, but it is sensitive to water chemistry. Leisure Pools Canada mentions that concrete is a porous material, causing it to need more chemicals to maintain its surface.?

Next, a decision on saltwater versus chlorine need to be made. Saltwater pools contain the same stabilizing chemicals as a chlorine pool, minus the chlorine. The salt in saltwater can synthesize chlorine, meaning saltwater still contains natural chlorine. But, according to Poolonomics, this difference matters for water quality and maintenance. They state that the water quality of saltwater pools feels different to users, as most people can tell when they are in a saltwater versus chlorine pool (your eyes won’t sting). This is because saltwater pools have generators that dispense a steady amount of chlorine, causing chlorine levels to remain much lower. Due to this process, saltwater pools are actually easier to maintain, as it involves less manual labour as well as chemical testing that is required for chlorine pools. The biggest difference is that chlorine pools are shown to be easier for repair because they do not have a saltwater generator. Also, Poolonomics reports that saltwater is more corrosive: water with higher salt content can speed up corrosion if pH levels are lower. Overall, it seems that chlorine pools are actually cheaper, as it saves you from the cost of the saltwater generator. It then becomes personal preference and your assessment of the health benefits.?

How about the type of inground pool? There are several different types, including an infinity pool, plunge pool, lap pool, hot tubs, and more. Infinity pools create an illusion of having no end. If you look at them from a certain angle, it looks like they have no boundaries and that they flow off an edge. This type of pool is complicated to install, as there is a collection basin where the water falls to. As you can likely imagine, this type of pools is very expensive, at around $80,000 USD, according to Forbes. Lap pools are functional pools designed for exercise.?They are narrow and shallow, allowing for homeowners to exercise by swimming laps. The average cost of a lap pool is around $50,000. Plunge pools require much smaller yard area and are only slightly larger than a hot tub. Plunge pools are relatively cheaper than other options, at around $20,000, as it is very compact. These seem to be currently favoured over hot tubs and give a more modern and contemporary feel to your space. That said, hot tubs have retained a following, especially among the four seasons users. With any of these unconventional pool types, energy for maintenance and the cost of installation are most likely to be higher. Whether these non-traditional styles will truly pay off of course depends on the location, quality, and size. For potential buyers, the concept of a plunge pool, considering how small it is, may seem like more of a burden than benefit; the cost of installation and maintenance may not be worth such a small space.

Homeowners, especially in the younger and more affluent, are enhancing their outdoor and poolside space with exercise areas. Basketball (thank you Raptors) is big, More and more we are seeing this feature added ranging from the do-it-yourself hoop to professionally installed quarter courts. Whether or not this investment is recaptured at sale time can be debated. But there is definitely a “Wow” factor and it makes your property memorable. You get to have fun too.

The exercise space is a bit of a cheat and may be more staging that design. This said, we see more people assigning yoga or workout spaces out by the pool. Functional, but they also help potential buyers mentally place themselves in the home. “Wouldn’t it be great to wake up and head to my own private yoga studio by the pool?”; even if they never actually do it. Music, a shower, the options to add and enhance the space are seemingly endless.???

Overall, pools are one of the major property value-boosting features that people consider when trying to maximize their value. With a project of such high cost, ensuring quality and each option for materials is essential.?