Swimming pools are in trend again. Real estate agents are now filling in requests from wealthy homebuyers who want to have their sanctuary in their home. Properties with swimming pools are now a requirement like one would require a kitchen. It is no longer an amenity that a homeowner can do without. It has become a necessity that they are willing to pay a premium for.
A necessity more than an amenity.
Jade Mills, a California-based real estate agent said, “A swimming pool is a must, it’s probably more important than anything else. There are very few homes in our area that will not have a pool.” Mills represented the Playboy Mansion buyer in 2016 and is one of the top agents in the Beverly Hills area.
In a study conducted by Redfin, they found that in 2018, 23% of properties sold in Los Angeles features a swimming pool.
Why are swimming pools almost like a fashion statement for homes?
Los Angeles is known for its warm weather and luxurious lifestyle, and swimming pools are a testament to that. According to Redfin, pools are valuable for Los Angeles homes. Pools considerably sell higher by $95,393 more than homes without pools. While to some more affordable areas, the cost of pools may drive buyers away. In Los Angeles, having a home without a pool is frowned upon.
Real estate agent Lindsay Katz shared that climate is a big factor in this trend. In Los Angeles, swimming pools rarely freezes in the winter, and summers in the area are not as hot as Phoenix or as humid as that of Tampa Bay. Katz adds that affluence is also a contributing factor. Most wealthy buyers are willing to shell out millions of dollars for a house, so they can afford the added cost of having a pool, including its maintenance and repair. About 6,000 homes of the 26,000 properties in the area have pools, and Katz said that it wouldn’t surprise her if the numbers will rise, with at least 60% of homebuyers in the San Fernando Valley consider buying a home with a pool.
These factors explain why Los Angeles homes have a median home value of $694,200, way higher than most California cities, according to Zillow. Additionally, Los Angeles also has fewer public pools they have access to. Plus, they are also far from the oceans. As a result, their only recourse is to swim in their backyards.
Waste of Water?
Back in 2014, many homeowners received backlash for having swimming pools as some say they are wasting water in the middle of a drought. However, water officials said that swimming pools are not as wasteful as leaking toilets and lawns.
Adding features and amenities to a home can significantly increase its market value. More so, if it has become a necessity for living. Swimming pools are de rigueur in Los Angeles because they need it for their lifestyle – sunny summers and luxurious vibe – that’s what Los Angeles is.