Its Winter in Memphis, TN and I believe it got up in the 70s today. It got me day dreaming about summer and how amazing this year will be. I then immediately thought of my client and the future pool parties she has already invited me to- You see, home inventory is low right now so of course properties with pools are in low supply as well. A client of mine who relocated to Collierville is installing a pool before Spring. I went over details with her that are similar to this blog post so I decided to share... When I think about swimming pools, my mind immediately forms an image of glistening crystal clear water. I had a pool growing up and no longer do - Many pool owners consider themselves blessed in the scorching Memphis heat... who wouldn't LOVE to escape the heat and relax poolside? During the summers, if you have a swimming pool, you may feel like you have a little piece of heaven in your backyard... However, if you don't have a pool and are thinking about getting one, read this first.
Just who exactly wants a pool?
Families composed of middle-aged buyers and teenagers who live at home make up the largest market segment for properties with in-ground swimming pools, according to Better Homes and Gardens Real Estate. This totally makes sense- swimming pools, especially those unfenced, can make for a dangerous atmosphere for families with young children and toddlers. But it doesn't stop there. An additional market niche of home buyers who would be interested in homes with swimming pools would be younger couples who enjoy to entertain frequently outside. Those who like to entertain have always taken property accommodations into consideration while finding their perfect home; however, recently outdoor entertaining is becoming as important, if not more, than indoor entertainment build-ins. With outdoor fireplaces, fire pits, and luxury outdoor seating areas becoming more popular, swimming pools are considered a must-have for outdoor entertainers."Location, Location, Location"
Although to some this may be just another overused mantra dealing with the real estate industry, it is still important to take into consideration the location if you are thinking about getting a pool. trite real estate mantra, but it is important nonetheless. If you live in in a warmer climate, such as Hawaii, pools are in much higher demand than a cooler climate, like Alaska.However, even if you live in a hot, dry, desert-like climate like the Southwest, getting a swimming pool may be a waste of money if there is a neighborhood pool less than a block away. Although, there may be other factors to consider - if everyone in the neighborhood has pools except you- this may be something to ponder on as well.
How much of your lot will the Pool take up?
Lot size is a major decision factor to take into consideration. Think about how much of the backyard the pool will take up. If you have a smaller sized lot, you may want to consider the resale value and the future of selling your home. If the pool takes up the entire backyard, you may have eliminated buyers with small children and/or pets. Many buyers with pets and younger children want grassy areas to play in. Also, those who like to entertain outside usually prefer some landscaping and yard area - not just a pool. Gardening and relaxin whether or not to have a swimming pool installed. Remember, if you eliminate activities one would do in the backyard, you drastically decrease the amount of segments your home will appeal to.Other factors to consider:
With any kind of project your home is undergoing, it is very, very important that you do not over-improve. Your home's value does have a ceiling and you do not want to spend money that exceeds that, as you will never be able to make it back. For instance, your home typically can and will only rise to the most expensive comparable home in your area. Type and condition of pools are important also - if a pool is poor shape, it won't be appealing to buyers. A pool will not automatically add value to a property. If a pool does add value to a property, it is generally insignificant - about 8 percent of the home's value. Of course, this percentage increases in the southern States such as Hawaii and Florida.
As with any home decision, deciding on the installation of a swimming pool should be a personal choice based on your lifestyle, needs, and wants. If you need help or have any questions, please feel free to contact me. AllisonPierce@KW.com http://www.AllisonSellsMemphis.com http://www.YourMemphisHomesearch.com http://www.Facebook.com/WeSellMemphis or Follow me on twitter @AllisonSellsMem
