26 Feb Detached Shop vs. Pool: Weighing Benefits
“I want to add a detached shop to our property, but my wife would rather add a pool. What do you think would add more value down the road? They will both cost us around the same.”
When it comes to enhancing your property, adding amenities like a detached shop or a pool can significantly increase its appeal and value. However, determining which option is more beneficial requires careful consideration of various factors, including your lifestyle, preferences, and the potential impact on resale value.
“To be honest, since COVID, pools have increased significantly since COVID. They frequently take two years to obtain one or more, so if you are able to obtain one, you will undoubtedly be in the driver’s seat if you decide to sell in the near future. If you decide to sell in ten years, I’m not sure how popular they will be or if they will continue to hold the same appeal, but in the meantime, there is a real staycation factor, so things like having nice backyards, hot tubs, pools, saunas, etc.”
A pool enhances property aesthetics, creates a luxurious outdoor living space, promotes health and wellness, and can increase property value, especially in warm climates, due to its health benefits.
On the other hand, they require regular cleaning, maintenance, and chemical treatment, requiring ongoing expenses and time commitment. They pose safety risks, especially for young children or pets, and may only be usable during certain seasons.
A detached shop provides versatile, customizable space for various purposes, enhances property functionality for DIY projects, and increases property value for buyers seeking additional storage or workspace.
However, they can be costly to build, requiring materials, labor, permits, and maintenance. However, their appeal may be limited, potentially limiting potential buyers.
“In addition, I’ve heard of some pool companies that offer financing, so maybe you could finance the pool and just have a small monthly payment and then do the shop as well. That way, it might be win-win if you could do both, but if it was just one, I would choose the pool over the shop.”
When choosing a detached shop or pool for your property, consider your lifestyle, local market demand, and budget. Research buyer preferences and assess the impact on property resale value. Evaluate upfront costs, ongoing expenses, and maintenance requirements for financial feasibility. Choose an option that suits your lifestyle, budget, and local market trends, evaluating the benefits and drawbacks to enhance your property’s appeal.