It has been a year when most of the world was put on lockdown due to the coronavirus global pandemic. It looks the people have adapted to the "new normal" and now taking their quarantine to the next level by bringing some recreation activities at home. It turns out that the pandemic increased demand for houses with swimming pools and hot tubs.
According to Pool & Hot Tub Alliance spokesperson Janay Rickwalder, a 30% increase in permits to install pools and hot tubs was recorded in States like Arizona, Texas, and Florida. In 2020 alone, over 94,000 new in-ground residential pools were built.
"This is historic growth for the industry-the next closest period was in 1983 with 16% growth over a much smaller base," Rickwalder told The Escape Home, as reported by MarketWatch.
Meanwhile, hot tub demands have been a major blockbuster, with some areas reporting at least a 400% increase in orders. Because of this sudden surge in hot tubs sales, manufacturers are already reporting a six-month wait to fill the order list. It was so on-demand that Pool & Hot Tub Alliance said they are now fulfilling orders for 2022.
Meanwhile, the news outlet also reported that pools suddenly become a central selling point for houses for sale. In fact, the word "pool" has also become the most popular keyword search on real estate listing websites.
Why Homeowners Suddenly Want Pools and Hot Tubs?
Despite the tedious maintenance and water consumption, homeowners opt to add a pool in their home amenities for one apparent reason: they do not want to deal with other people's germs, a.k.a coronavirus.
On top of that, Northeast Spa & Pool Association spokesperson Kelly McKelvey believes that people now realize the benefit of a pool in their backyards.
"The demand is there-a result of people realizing the quality of life and how having a swimming pool right outside their backyard really creates a vacation where you know you have total control," McKelvey explained.
Kelly suggests that homeowners have "refocused themselves on creating a vacation spot in their backyard."
The pool and hot tub phenomenon also made professionals rethink about a decade of real estate advice: "Install a pool, not to increase your home's value but to enjoy it."
But a 2019 LendingTree study shows that homes with swimming pools can have a 54% increased value compared to those without one. A media home with a pool can be valued at $469,187, while a median home without one is only valued at $305,152.
Pools on Rental Properties
Installing pools is not only limited to residential properties; it is also a good investment for those who make money out of their homes via short-term rentals like Airbnb and VRBO.
According to Arkansas-based real estate investor Sara Jennen, having a pool in her Airbnb units made her charge at least $200 more per night. Furthermore, Jennen said she predicts earning $20,000 more this year on her Airbnb unit near a resort town with its own swimming pool.
