Whether you’re looking at a pool for your new home or considering adding one to your existing home, there are a lot of factors to take into account when making this decision. You’ll need to consider the financial perspective in terms of the overall cost of ownership, as well as what it may do to your eventual property value. On top of that, you’ll need to think about the pros and cons a pool will offer for you and your family’s lifestyle.

Financial considerations

First and foremost, installing a pool is a major onetime expense just to get set up and running. If you choose to go with an above ground pool the expense will be drastically less. An above ground pool including installation costs will typically run between $6,000 and $7,000. Compare that to the $25,000 to $50,000 cost range of an in ground pool and you’re already faced with your first difficult decision.

At this point you’ll want to consider the long term plans for your home and your pool. If the pool is primarily geared for your children’s use, you may want to go with an above ground pool so it can more easily be removed should you choose to get rid of it once they’ve moved out of the home. Be sure to plan in the additional costs and added labor (and potential headaches) that may come with additions to an above ground pool.

If you intend to use the pool for yourself in the long term and you want to build it as a focal point of your yard, the investment into an in ground pool can be a good decision. Depending on your location an in ground pool can make your home more or less attractive. If your eventual property value (and ability to sell the home) is a major consideration, it’s worth contacting a respected local real estate agent to get their opinion on what it will do to your home value. Regardless, in most cases you should know that a pool will create some limitations in your ability to sell the home as there will always be a percentage of the market (particularly safety conscious parents with small children) with no interest in a swimming pool.

Beyond the effect on your property value and the onetime cost, you’ll also want to budget for the annual cost to maintain the pool. This includes filling up your pool each year, which can be up to 30,000 gallons or more depending on the size of your pool, as well as the cost of chemicals, equipment repair and accessories. For an average pool season of seven months an above ground pool costs an average of $400 per year for chemicals while an in ground pool costs an average of $660. In total, you’ll likely spend a rough total of $3,000 per year to maintain your pool by yourself, and if you use a pool maintenance company your costs may rise all the way up to $5,000.

At the end of the day there are many advantages to owning a pool. However, don’t be fooled into thinking pool ownership is all fun and games. You’ll need to think about things like pool safety for your children and how well it fits into the rest of your lifestyle. Beyond the investment of time and money you’ll want to make sure you properly weigh the pros and cons before investing your time and money into a swimming pool.

About the author: Adam Henige is co-owner of Swimtown Pool Supplies, an online retailer of swimming pool products and spa accessories.

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