What do you do when you can’t travel to your favorite vacation destination and sip a drink poolside? You bring the vacation to your house. That’s the idea that many homeowners have right now, which has led to a boom in inground pools across the nation — even in states with four-season climates. If you are thinking about adding a pool at your current home or purchasing a property with a pool in 2021, there are some factors to keep in mind. Read on to learn more about what might come with pool construction or trying to buy that dream home with the perfect backyard pool.
Want a pool? Be patient.
When the world was sheltering in place due to Covid-19, home construction screeched to a halt, and that included home renovations and the supplies needed to complete them, too. As a result, pool installations are also experiencing a backlog depending on the part of the country you are living in. If you want to add a pool and haven’t started the process yet, the chance of having one ready to swim in this summer is unlikely. That means you’ll want to think seriously about whether you’ll still want that pool next summer, before making the investment.
Will a pool really add value? It depends.
Pools have not always been selling features for homes, in fact, a report from 2018 noted that having a pool can make it harder to sell a house quickly — some buyers view a pool as a liability and maintenance nightmare. Pool upkeep costs around $3,000 to $5,000 a year and some buyers may opt for a membership at a local pool instead. But what if public pools are closed? That’s where Covid-19 has led the value of a home with a pool to rise. Agents estimate that prior to Covid-19, a house with a pool brought in an estimated $16,137 more than a house without one. Now, a house with a pool sells for an estimated $27,199 more on average, a survey from the real estate experts at HomeLight reveals. Is adding a poll worth the investment? The best strategy is to consult with a real estate agent about your neighborhood’s market before taking the plunge.
Trying to buy a property with a pool? Get ready to compete.
If you’re thinking about upgrading your next home, a pool might be on your mind, but you are not alone. The increased demand for homes with pools, and homes in general in the face of Covid-19, has led to a sellers’ market across the country. This means that there are not enough homes for sale to keep up with demand. For sellers, this is good news, because homes are getting appraised for more than the asking price — especially homes with those coveted pools. For buyers, you may find it more difficult to land that dream home or end up paying more than you might have anticipated.
If your fantasy is to have a home with a pool, it’s possible to make it happen with an action plan in place. Consulting with a real estate agent who can assist you every step of the way is an ideal first step.