We all love summer for many reasons like vacations, outdoor concerts, patio dining, camping and so much more; but, there’s also that summer heat and humidity. This summer has already given us record-breaking temperatures, and numerous heat warnings and advisories. So what’s the best way to beat the heat? For me, a refreshing dip in a pool always does the trick. As a Toronto real estate agent, many clients ask, what does it actually cost to have a pool? Let’s take a dive in and look!
First, it is important to decide which type of pool you want to install: In-ground, Above-ground, or Indoor. There are pros and cons to consider for each including installation, space, cost, maintenance, etc. Once you’ve decided on what type of pool you want to install, there are additional details to consider. What type of material do you want your pool to be made of? Would you use salt water or chlorine? Would you want additional features such as a pool deck, lights, or a heater? How much does the pool cost to maintain year after year? All of these factors contribute to the final cost of having a pool.
Inground Pools
If you are considering purchasing and installing an inground pool, there are generally three types to choose from vinyl, fibreglass, or concrete. Below is a breakdown of each type and the associated costs.
Vinyl: A vinyl-liner pool can cost between $50,000 to $90,000 to purchase and install. Each season, you can expect to spend up to $2,000 to maintain a vinyl-liner pool. Liners may need to be replaced between 5-10 years. So to maintain a vinyl pool long-term, you could be spending between $4,500-$6,000. These pools are economical in terms of the price of the initial cost and installation. They are typically rectangular but a vinyl-pool can be custom shaped and sized. Some cons of a vinyl pool are that they can take longer to build, saltwater is not recommended, and if you have any pets, there is a potential that they could rip the liner.
Fibreglass: A fibreglass pool ranges between $70,000 to $100,000 to install. To seasonally maintain a fibreglass pool, costs can be up to $1,800. In the long term, you may need to spend $3,000 anytime you need to repair a crack and up to $15,000 every 20 to 30 years when the gel coat of the interior needs to be redone. A fibreglass pool can typically be installed quickly and usually lasts longer than a vinyl pool. Cons of a fibreglass pool include the inability to customize the shape and size of the pool and that you may have to resurface the interior every 20-30 years.
Concrete: When installing a concrete pool, the initial cost can be between $75,000 to $130,000. The cost to maintain a concrete pool seasonally is higher than inground pools because the pool pump of a concrete pool needs to run twice as long which uses more electricity. This could cost around $2,500 seasonally to maintain. Long-term maintenance of a concrete pool involves resurfacing every 20 to 30 years which costs around $15,000. A concrete pool is the longest lasting and you can customize the shape and size. However, a concrete pool is the most expensive in general to build and maintain, requires the most chemicals, and takes the longest time to initially build.
Above-ground Pools
Considering the size of Toronto real estate’s outdoor spaces, an above-ground pool may be one of the best and most inexpensive options. An above-ground pool is typically installed yourself which keeps costs low and is a quick and easy solution to beat the summer heat.
Inflatable: These types of pools typically cost less than $1,000 depending on size and design. However, an inflatable pool is not built to last, so you may have just one or possibly two seasons with your blow-up pool. The cost to maintain these pools is minimal as you are really just refilling it with water.
Steel: An above-ground steel pool will generally cost around $1,000 to purchase and install. Seasonal maintenance of a steel pool costs around $1,200. This accounts for buying chemicals for the pool, cleaning, and vacuuming it. These pools typically last around 8 years.
Resin: Resin is a premium above-ground pool which is why it costs around $5,000 to purchase and install. This type of pool doesn’t dent or overheat in the sun the same way a steel pool can, which makes them typically last between 10-15 years. The cost to maintain a resin pool is on par with a steel pool at around $1,200.
Indoor Pools
Indoor pools can be constructed from the same materials as inground pools. However, the cost of installation for these pools are much higher because they require your home to undergo a significant renovation. The cost breakdown of each type of indoor pool is as follows:
Vinyl: $160,000 for materials and renovation costs
Concrete: $170,000 for materials and renovation costs
Fibreglass: $185,000 for materials and renovation costs
Additional Costs
Once you’ve decided on the type of pool you desire and have it installed, there are additional costs that you need to consider. Below are some additional fees to consider when estimating the overall cost of your pool:
Pool Equipment: Heater ($1,500-$5,000 initially, then approximately $1,000 yearly); Cover ($100-$8,000 depending on the type or shape of your pool); Automatic Cleaner ($700-$1,500)
Pool Decor: Tiling (up to $3,500 depending on the size of your pool); LED lights (around $500 to purchase and install); Waterfalls ($200-$15,000 depending on type and size)
Type of Water: Saltwater pools are less expensive than chlorine pools. Saltwater costs around $100 annually but they need a salt chlorine generator that costs around $2,500. These last up to 7 years before they need to be replaced. A chlorine pool is usually around $800/annually to maintain including the cost of chemicals.
Pool Steps: There are various options from DIY to hiring a professional and the cost can range from $200-$2,000.
Pool Deck and Fence: $10,000 to $23,000 depending on the size and shape of your pool.
Maintenance: Seasonal maintenance including opening and closing the pool will cost over $200 if you are hiring a professional.
Insurance: Expect your home insurance to increase between $30-$60/month with the addition of a pool.
Hydro: You can expect the extra electricity and water usage to tack on an extra $1,000 or more to your yearly hydro bill.
The overall cost of having a pool varies greatly depending on the type of pool and features you desire. Your best option is to devise a budget and choose features that fit nicely into your price range. Whatever you choose, I’m sure the cost will be worth it on a hot summer day.
If you are looking to buy a home with a pool and need help searching, please feel free to reach out to our team of Toronto real estate experts.
Sources:
NBC
Money Sense
Alpine Credits
