Almost everyone who has enjoyed some nice vacations in a beautiful house with a pool and a stunning ocean view might think at first glance: “To sell a home like this must be a piece of cake and go pretty fast.”
However, this idea usually comes from people who’ve never lived in a house like that.
Then there are homeowners and investors who need to make a strategic decision if they add a pool or not or if they buy a house with pool or not, and therefore might ask themselves, if homes with pools really sell faster.
Homes with pools in California, Arizona, and Florida, usually can sell faster since there is a higher demand for them in these locations.
However, selling fast depends also on the overall first impression of the home, competitive pricing and if you laser target the right audience of potential pool home buyers in these specific areas on the right marketing channels.
In this article we dive a bit deeper into the different factors that make or break a fast and profitable sale of a home with pool.
The Perceived Value of a Home is Only One Factor to Sell it Fast
In this article I have already covered how you can increase your chances of selling a home fast within 5 to 7 days. I established that:
- The property needs to make a good first impression, and also the person selling it
- It needs to be priced between 2% and 5% below market value
- The listing of the home needs to make a good online impression
- Introduced scarcity can increase the urgency to take action
While a home having a pool can increase the perceived value of a home, it’s not the only factor which will move the needle for a fast sale.
So, you can imagine that if most of the other conditions aren’t met, just by having a pool won’t help that much.
Imagine if you were a potential buyer on a home showing with a realtor.
You just arrived at the home and already can see at first glance that the landscaping is way off and the home is cluttered with things from the current owner.
You can also see a that it’s now very well maintained and several areas of damage are visible.
Then you arrive at the living area that has an open room concept and is connected to the kitchen.
It has also sliding doors leading to the terrace with the connected pool.
Once you arrive there you are surprised, because this terrace and pool area looks like it’s in tip top shape in contrast to the other areas you have already seen.
Do you think that this particular house having a pool will lead to a faster sale?
The tip-top pool won’t be able to compensate for the bad first impression the potential buyers have already experienced right from the beginning.
Besides, the benefits of having a home with pool in Idaho could be missed because of the location. It makes sense where the benefits of a pool really take effect.
To know when this is the case, let’s discuss the actual benefits of a pool (not the features).
What Are the Benefits of a Pool
To get to know the benefits of a pool we can ask which deep rooted human needs it fulfills. In the field of copywriting there is a list which is called the “Life Force 8”, which are:
- Survival, enjoyment of Life, Life Extension
- Sexual Companionship
- Comfortable Living Conditions
- To be superior, winning, keeping up with the Joneses
- Care and protection of loved ones
- Social Approval
- Enjoyment of Food and Beverages
- Freedom from fear, pain, and danger
And then there is a list of 16 Core Desires:
- Desire to Influence
- Desire for Knowledge
- Desire to be Independent
- Desire for Social Standing
- Desire to Play
- Desire to Get Even
- Desire to Obey Moral Code
- Desire to Improve Society
- Desire To Exercise
- Desire to Courtship
- Desire to Raise Own Children
- Desire to Organize
- Desire To Eat
- Desire for Approval
- Desire to Avoid Anxiety
- Desire to Collect
So, now which of the above needs and wants can we identify that a pool will provide for (I bolded them already)?
The first one is enjoyment of life.
When you have a pool with nice, fresh and cool water in a hot climate you can use it to cool down and relax. Most people enjoy being in the water.
Then you might easier able to attract someone as a potential partner, if you can invite her or him over to show and enjoy your pool.
A pool also makes living conditions more comfortable.
It’s just nice when you have the terrace bordering the master bedroom with sliding doors, where you can just jump into the pool basically from your bedroom.
The next benefit is that you can show your peers that you have ‘made’ it and feel a bit like a winner and superior (‘Wow, you have a pool, good for you man’).
On the same note this also fulfills a desire for social standing and approval.
Then with a pool you can also exercise your body (another human desire).
There are also people who have just never had a pool in there live and now want one so they can add it to the things they already have. This fulfills the desire to collect.
Now that we have established the benefits of having a pool, we can go to the next step and derive from the above for which people and especially in which location homes with pools are in demand the most.
Since the demand directly influences the perceived value of a home, we can assume that it also has an influence in the speed of a sale.
Where Homes with Pools Have the Highest Demand
So, now the question to ask is where on the one hand we find potential buyers that have the above described needs and then on the other hand in which areas these needs can be best met with pool homes.
Let’s check for a moment in which areas homes with pools are in high demand and where they add the most to the value of a home.
The three most popular states with high demand for homes with a pool are California, Arizona and Florida (source).
According to the same source the types of buyers for a home with pool are the following:
- High end buyers in contrast to first time home buyers or mid-range buyers
- Middle-aged buyers with teenage kids
- Health enthusiasts who like the daily exercise
And this is what a pool adds in value to a typical home in these states (source):
- In California $95,392.96
- In Arizona between $11,590.71 and $27,285.26
- In Florida between $21,300.36 and $36,964.24
What the three states with the highest demand have in common is the hotter climate, so it plays to one of the mentioned needs, such as comfortable living conditions.
With regards to the ROI even in the states with higher demand for homes with pool it’s a fine line, and not always the best idea to build one, when you take into consideration the average costs to install in-ground pools of between $20,000 to $65,000.
The profit might become thin or negative quickly when you add one in areas of Arizona or Florida where it adds value only in the lower ranges.
If you also add on top the maintenance costs of between $1200 and $1800 per year and some additional insurance costs per year this profit margin might shrink further.
So do homes with pools sell faster?
Generally speaking, no. Just having a home with a pool won’t make it sell any faster.
Only if you meet several pre-conditions and take targeted marketing actions according to those might this be the case.
Firstly, not only the pool needs to make a good first impression with potential buyers, but also other areas of the house and then also the person selling it.
Secondly, it needs to have a competitive pricing right on market value or even a little bit below, and the online impression needs to be good enough.
The next condition is to have it listed in one of the three states that have a higher demand for pool homes and your marketing methods need to specially target the type of potential buyers that are most attracted to these kinds of homes.
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