To Pool or Not To Pool
When selling a property with a pool, the first thing to know is that you should be prepared (and prepare your clients) for a bit of resistance from certain potential buyers. A number of people have a negative mindset when it comes to the discussion of pools, and I think this is due in part to price.
A pool can be an expensive, luxury item rather than a necessity. The cost of a pool, between the routine upkeep/maintenance, repair costs, and the direct effect it will have on your home’s energy bills, are all reasons that deter buyers from exploring pool ownership, so don’t be surprised if you get some negative reactions.
Safety risks are another factor that prevent buyers from signing on a home with a pool. Injuring yourself on a diving board and other safety concerns are things that consumers are hyper-conscious of, particularly those with young children. Pool owners have to increase their insurance coverage to offset these risks, which can be a turnoff for many would-be buyers.
As prepared as you can be for those buyers who will have doubts and see the pool as a problem, be equally prepared for clients who already love pools or who can easily be convinced.
Many who purchase a vacation or second home think to themselves: “I need to get a house with a pool in the backyard.” Having a backyard pool immediately improves the value of a home as a rental property. If you come across a prospective buyer of a second home who is hesitant about the pool, explain that a swimming pool immediately increases its appeal to vacationers, and thus increases rental income. With a strong stream of rental income coming in, the cost of owning a pool becomes more than justifiable.
Outdoor living space is a huge draw for renters right now – anything that’s seen as a luxury, customizable item (water features, hot tubs, outdoor seating spaces with TV’s/chimineas etc.) is attractive to buyers/renters.
Pools can also be extremely attractive to buyers who value fitness. Many see having a backyard pool as something that can be good for your health, an immediate relaxer. Consumers with pets are also drawn to properties with pools, as it provides a way for them to cool off with their furry companion, enjoying their company outside of a vacation rental/property.
Any buyer who wants their home to be an escape and who values privacy, exclusivity, and unique access can be sold a home with a pool. Understanding the pain points and the upside will enable any agent or broker to be better prepared to educate their buyer to make a decision that delivers real return on investment.
-Courtesy of RealtyTimes, 5/22/22