Periodically C.A.R., the California Association of Realtors, publishes newsletters, e-magazines and other useful information which I find interesting and helpful. One such email I get from C.A.R. is called “One Cool Thing”. This month’s graphic was titled “School or Pool” caught my eye. There is no doubt that a good school is by far one of the most important criteria when it comes to where most buy but I starting wondering what value a pool adds to your purchase.
In my nearly 30 years of selling real estate here in the Napa Valley, the one amenity which brings the most comment and absolute feelings, homes having a pool. In my experience, somewhere between two thirds to three quarters of the buyers I work with, reject any property with a pool. This is primarily the first time or move up buyers buying around the median price point. Pools are a must have in the upper end homes.
I thought I would look at what sold here in the Napa Valley and see if I could see what a pool does as to values and the number of homes with pools in three price ranges. I chose under $500,000, $500,000 to $1M and $1M +. The percentage of properties having an in-ground type pool in these three price ranges: less than 3%, 15% and 42% in the $1M+. The difference in median selling prices for each price range, this is for homes having a pool which was all higher than those without: +15%, +16% & +54%.
Hopefully you will find this helpful when considering buying a home with a pool.
Let me put my nearly 30 years experience to work for you and help you find the perfect Napa Valley property