Homes with Pools Selling at a Premium
HomeLight: A house with a pool now may sell for about $27K more than a house without one; before the pandemic, it would have netted about $16K more.
CHICAGO – A report by HomeLight titled “Top Agent Insights for Spring 2021” reveals that homes with swimming pools have become a buyer preference since the onset of the pandemic.
Pool additions are on the rise, and more house seekers say they want one in their backyard. Americans now regard pools as a source of entertainment while sheltering at home, and pool sales have tripled in the last year.
Real estate professionals surveyed by HomeLight estimate that prior to the pandemic, a house with a pool would net about $16,137 more than a similar house without one. At present, however, a house with a pool can sell for an estimated average of $27,199 more, according to industry experts.
The cost to install an in-ground pool is still significant, an average of $42,480 and rising to $100,000 to $150,000 for luxury versions.
Sixty-eight percent of real estate professionals say they expect a surge in pool additions in their markets. In the Northeast, the additional value that a pool brings has increased by 113%, followed by 88% in the Midwest and 63% in the South Atlantic.
The report also found that pool features perceived as desirable by home buyers include having a nearby outdoor kitchen, snack bar, or wet bar and a fence around the pool for safety.
Source: Realtor Magazine (04/26/21)
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