Joseph Yu discusses swimming pools in Arizona. Should you build a pool from scratch, or buy a home with an already existing pool. Joseph goes over the pros and cons of each, including options with new home construction pools.
When I help buyers find their next home, the topic of swimming pools is a major search criterion. Either buyers want or don’t want a home with a pool. When clients tell me they are looking for a home with a pool, I will ask if the pool is for resale purposes or for personal enjoyment.
But what happens if you find the perfect house, but it doesn’t have a pool? What if I am purchasing a brand new house and I want a pool? Should I still build a swimming pool?
So with most of my answers, it depends.
If the answer is for personal enjoyment, and not for investment purposes, then you should build a pool, however before you do you should know that whenever you do decide to sell, you will not receive the cost of the pool back.
If you are one of those buyers who wants a pool, the question is “Should I buy a home with a pool or should I build one?”
If you are on the market to purchase a home and you want a pool, I usually will suggest buying a home that already has a pool built so you don’t have to take the loss when you sell. If you are buying a new home like many people are these days, then make sure you are building the home for personal reasons and not to recoup the entire cost back.
Lately on appraisals, I am seeing pools receiving on average anywhere from $0.30 to $0.35 on the dollar, on rare occasion upwards of $.40 on the dollar. Will some do better? Sure. If you are able to get a pool built cheaper than the market, your return will be higher.
If I am buying a brand new house should I build a pool?
Again, I am going to ask you is this for personal enjoyment or for resale purposes? If it is your personal enjoyment and you are okay receiving a fraction of your investment back, then you probably should build a pool. Now once you get to a certain size of home and price point, most buyers tend to expect a pool even though they might not use it. If the house is at least 2,900 Square Feet and larger and you are getting to the $600,000 price point and above, most buyers tend to expect a pool. If I were to put a ratio, it would probably be about 60% to 70%.
Lately on appraisals, I am seeing pools receiving on average anywhere from $0.30 to $0.35 on the dollar, on rare occasion upwards of $.40 on the dollar. Will some do better? Sure. If you are able to get a pool built cheaper than the market, your return will be higher.
If you decided you want a pool, are there benefits of building a new pool?
Yes. The great thing about building a new pool is you get to pick the design and finish. You can implement the latest and greatest in pool technology and trends. Some of these popular features can include new water features, cleaning systems, color-changing LED pool lights and smartphone technology that can control all the features of your pool. On top of that, you typically have some type of warranty for parts and construction.
In conclusion, when it comes to building a pool, it is a personal choice, but if you want to know the potential impact of the home’s value and saleability when that day arrives, and if you are not represented and you do not have a working relationship with a Realtor, feel free to contact me. I am here to help folks who are looking for a Realtor to work and represent them.
