In the realm of home improvements, few additions carry as much allure and potential as a swimming pool. However, given the scale of this type of project, making an informed decision on the addition of a swimming pool involves careful thought on both your lifestyle preferences and investment objectives. 

In this blog, we’ll cover a number of these considerations at a high level. Continue reading for more insights. 

Lifestyle Suitability

One of the primary reasons you may be considering the addition of a pool to your home is simply for enjoyment. Swimming is renowned as a beneficial type of exercise that doubles as a pleasant, leisurely pastime. With that in mind, having a private pool in your home or on your property allows for anytime access to swimming, an undeniable addition of convenience. 

In Toronto, the lifestyle advantages of having a swimming pool are accentuated by seasonal changes while retaining year-round usability. During the city’s often hot and humid summer season, a swimming pool serves as the ideal destination for lounging, keeping cool, and finding refreshment from the torrid weather. Further, an indoor or heated swimming pool may also be enjoyed during the cooler months, allowing for uninterrupted use throughout the year.  

Finally, a swimming pool may also serve as a focal point for social gatherings and family activities. From poolside parties to impromptu gatherings, it fosters a communal atmosphere where quality time can be spent and memories made. 

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Cost-ROI Analysis

Like any major home improvement project, adding a swimming pool to your home will directly influence its resale value. While every buyer has their own unique tastes, properties with well-maintained pools can sell at a premium, particularly in upscale neighbourhoods where luxury amenities are in demand.

Although adding a swimming pool to your home may positively impact your property value, it is essential to recognize the upfront costs associated with a project of this scale. Performing an adequate cost-ROI analysis before breaking ground will be paramount in ensuring your fiscal investment pays off. 

Beyond the upfront expenses, It’s important to factor in the ongoing costs associated with pool ownership. Examples include routine cleaning, chemical treatments, and the occasional repairs. While these expenses can vary depending on the size and complexity of the pool, budget-conscious homeowners should carefully weigh the long-term financial implications before making a decision. Further, having a swimming pool on-property may also impact your homeowner’s insurance premiums. 

Before You Begin

Consult an Expert 

Given the implications on property value, consulting a professional expert is an imperative step before adding a swimming pool to your home. Ideally, speak to a local real estate agent who has direct experience or expertise in ROI-adding renovations and other large scale home improvement projects. After unpacking your intentions and desired outcomes, they can provide market-informed guidance on whether adding a pool to your property may be wise or unwise. 

Further, should you proceed with construction, a well-connected agent can refer you to trusted local architects, contractors, and other tradespeople who can help bring your vision to fruition. 

Account For Red Tape

In addition to understanding the various financial implications of adding a pool to your home, it’s essential to recognize the red tape and other regulatory processes involved with a project of this nature. While the exact logistics, guidelines, and restrictions will vary based on your home and specific vision, you’ll want to be mindful of how these steps will impact the timeline of your build. 

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Ramsay Group’s Advisory Services

If you’re considering the addition of a swimming pool to your home, reach out to our team – Ramsay Real Estate Group. As a powerhouse team in the top 1% of sales on the Toronto Regional Real Estate Board for more than a decade, we boast distinct expertise in home construction, renovations, and project management. 

Leveraging this specialized knowledge to your advantage, we can assist you in determining whether a swimming pool may suit your lifestyle and investment goals. If needed, we can also connect you with our wide network of industry professionals and tradespeople to ensure the project goes off without a hitch. 

Looking to invest in your home or find a property suited to your tastes? Ramsay Real Estate can provide strategic and personalized guidance that leads you toward your ideal result. Click here to contact us by email or call 416.906.8366 to be in touch.

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