For many reasons, 2021 and the beginning of 2022 have been eventful.
Whether your focus is making sure your mask matches your clothing, working from home or spending $100 to fill your gas tank, there is one thing in Maricopa that we can count on: temperatures rising into triple digits in just a few months.
With the real estate market just as hot, the question many Maricopans are asking is, “should we build a pool?”
Many families want a new pool, but may have concerns the cost will exceed the resulting increase in home resale value.
Rest easy potential buyers, a nice relaxing play pool will most likely keep its value here in Maricopa.
From 30%-40% of homebuyers say they are looking to buy a home with a pool. Yet, in the last 12 months, only 17% of the homes sold in Maricopa actually had a pool. That means as many as 40% of prospective buyers are fighting for 17% of homes – 447 pool homes sold in the city over the last 12 months – and many are losing out.
Here is how Maricopa compares to other Valley cities regarding the percent of pool homes to total homes sold in the past 12 months.
So, how did I determine that building a play pool would proportionally increase the value of a home?
I took samplings of same-size homes sold in the past 30 days and averaged the values of homes with pools versus homes without. The comparison was based on an average pool price of $42,000 as provided by LMR Pools, a Maricopa pool builder. (See bottom of this column for the features included in that price.)
Many buyers moving to Arizona really want a pool. Many others who haven’t yet decided on a pool begin to request one by the end of their first day of looking at homes.
Currently, a home with a $42,000 pool will probably gain an additional $42,000 or more of value than the same-size home without a pool, especially for homes less than 1,800 square feet, the comparison shows. Keeping the value of a pool also becomes less likely as its cost rises above $42,000.
Bottom line is that if you want a pool in Maricopa, then make it happen. No one can tell the future and the market can always change. Worst-case scenario is that on a specific day in the future, home prices drop and not every penny of the pool cost carries to the sale, but for long-term owners, you will get years of enjoyment from your pool, and if you hold onto the home long enough, the market will shift back again, and the pool will have paid for itself plus more.
By the way, I ran the same reports in 2014 and 2020 and the results were similar as this year: the average sale prices of pool homes were higher than the average pool cost for most value ranges.
More on pool costs
Aaron Johnson, owner of LMR Pools states that $42,000 can buy a pool with the following specs:
- 80-feet perimeter
- Tiled waterline (several options available)
- Round mini-pebble (several options available)
- 300 square foot of acrylic decking
- Depths of 3.5/5/4-feet deep
- 3-horsepower variable pump
- All plumbing/electronics
A couple of upgrades are available at extra cost:
- Baja shelf (tanning ledge)
- Automatic in-floor cleaning system
- Extended pool decking area
- Diving pool
Average construction time of a pool, according to LMR, is 6-8 weeks, covering the permitting process through build time.
As with any large-ticket purchase, talk to multiple pool builders and check references.
If you have any questions about buying or selling a home, reach out. Maricopa real estate agents specialize in the area and know where the deals are to be found.
Keep cool, Maricopa.
Brian Petersheim is a local Realtor with Homesmart Success.