Should Builders Add Pools to Their Builds?
Are you planning new home builds with swimming pools in the back yards, but aren’t sure whether those pools will add or subtract from the value of each home? We’re going to take a look at the trends to see whether buyers want this amenity, so keep reading to learn more.
Pool or No Pool? There are Many Factors to Consider
Like so many things in the housing industry, whether or not a pool makes financial sense will depend on a variety of factors. Here are some of the top things to consider:
- The type of development or neighborhood you’re building.
- Where in the country the new homes are located.
- Who your target buyers are.
- The size of the lots you’re building on.
In High-End Developments, Pools can Increase Value
When deciding whether or not to include pools in your builds, take the style and type of the development into consideration. In high-end developments, including a pool generally goes against the common wisdom of “pools decrease a home’s value.” In this case, pools could actually increase the home’s value by up to 7%.
Location Plays a Big Role in How Profitable a Pool Will Be
Not surprisingly, the region that you’re building in will also be an important consideration. Pools aren’t as popular in colder regions like the Midwest and Northeast, but it’s a different story in states like Arizona and Florida.
Buyers in these sweltering states often appreciate having easy access to a cool, refreshing swim. So, if you’re building in a warm part of the country, including pools in your builds could be a good idea.
Who Will be Buying Your Homes?
Presumably, you’ve done some research into your target audience. For example, are you hoping to attract families with young children? If so, then think twice about including pools in your plans. Those buyers are often concerned about pool safety.
You should also consider the average income of your target buyer — will they be able to easily afford all of the expensive maintenance required? Houselogic estimates that homeowners with pools in warm climates who take care of the chemical balancing and cleaning themselves will spend approximately $600 annually.
Lot Size Also Needs to be Assessed
Finally, take a good look at your lot sizes. How much space will each pool need? Buyers want to use their backyards for more than just swimming, so if a pool will take up the majority of the space it’s probably best to skip it. Alternatively, you can still build smaller sized pools if your build meets the other criteria described above.
So, are home buyers still looking for pools when purchasing a new home? Yes or no, the answer will depend on your unique project.
Home Warranty Service Agreements and Structural Warranties can protect builders from unforeseen repairs and replacements, and homeowners can even add coverage for their pools. Visit 2-10.com to find out more!
