The swimming pool. Across the country, there are roughly 5.2 million residential properties that boast a swimming pool in their backyard. Pools are one of those things that you dream of having, especially when it’s hot out and you’re stuck at home due to the pandemic. So it shouldn’t be a surprise that the demand for pools has skyrocketed by 200% during the first six months of 2020!
But, for the longest time, real estate agent’s advised clients that it may be hard to sell your house with a pool because most people just don’t want the added expense of maintenance and higher homeowner’s insurance premiums. With that said, it appears that people when trying to buy a house while selling their old one, they’re particularly interested in properties with a swimming pool. If you’re a seller, insights from top agents for Spring of 2021 indicate that you could get an estimated $27,199 if you have one of these glorious features!
Pretty sweet, right? Well, maybe not.
The cost to install an inground pool is roughly $42,000 but could easily sneak up to $150,000 if you go for a fancier setup. The downside is that since the pool isn’t attached to the home, the appraiser probably won’t include it in their appraisal. When you do put your house on the market, make sure the asking price reflects the added value - a house with a pool can increase the sale price of your home by an estimated $31,847!
In-demand upgrades increase value
Homebuyers aren’t just looking for a house with a swimming pool, they’re looking for something that’s truly luxurious. What are the upgrades that’ll make your home more marketable? Let’s take a look.
Outdoor kitchen, wet bar, or snack bar
Forget running to the house or fumbling through the cooler for a snack or drink when you’re lounging by the pool. If your home has an outdoor kitchen, wet bar, or snack bar, 62% of agents say this is the top feature clients are looking for, in regard to the pool.
Safety fence surrounding the pool
A safety fence is high on a buyer's list if they have children, pets, or a particularly clumsy uncle. Of course, it’s also a requirement for many homeowner’s insurance companies.
A connected hot tub
If you thought a swimming pool was the cream of the crop in terms of luxury features, you might be mistaken. 38% of agents say their clients are very attracted to homes that have a pool and a hot tub or spa attached or very close to the pool.
Upscale hardscaping
It isn’t enough just to have a well-maintained lawn with some pretty flower beds. Buyers are particularly interested in yards that feature upscale hardscaping. This means instead of plain concrete slabs for a patio, they want a patio made with nicer materials like stone or brick. They’re looking for trimmed shrubbery, privacy fences, gardens with brick walls, and maybe even a water feature or two.
Swimming pools are a great way to increase the enjoyment of your home, especially when you live far from beaches, lakes, or even public swimming pools. Before the pandemic, a pool was thought to be more of a liability and money eater, but today? Today, swimming pools (especially in-ground pools) are a hot commodity and if your home has one, you can bet your house will sell quickly and for more money than it would without a pool!