Real Estate Splash: The Surged Value of Swimming Pools in Tampa Bay in a Post-COVID World

In the ever-evolving landscape of Tampa real estate, certain trends emerge that redefine the criteria for desirable homes. One such phenomenon that has gained traction in recent times is the surged value of swimming pools. Surprisingly, this trend took root right after the COVID-19 pandemic, reshaping the perception of these aquatic amenities as more than just a luxury but as a solid investment. Prior to this it was common knowledge across the industry that a pool was NOT a good investment to make in your home. Once I saw an appraiser only credit a home $10,000 in value for their pool! Let’s dive in deeper, no pun intended.

 

 

The New Normal: As the world grappled with lockdowns and social distancing measures during the pandemic, homeowners began to reevaluate both their properties and their priorities. The concept of a home transformed into a multifunctional space that accommodated work, leisure, and fitness. With gyms closed and travel restricted, people sought new ways to enhance their quality of life without leaving their homes. This shift in mindset catapulted the demand for homes with private outdoor spaces, and swimming pools quickly emerged as a symbol of luxury and convenience. It quickly became a competitive market for not only homeowners to compete for pool builders, but also for home buyers to compete for homes with pools.

 

A Home Oasis: The allure of a backyard oasis became irresistible for homebuyers looking for a sanctuary amidst the uncertainties of the world. Swimming pools offered not only a refreshing escape but also an opportunity to create a personalized recreation space. From morning laps to evening poolside gatherings, homeowners found solace and entertainment within the confines of their own properties. As a result, the once-debated decision of installing a swimming pool began to hold more weight in the real estate market. Pool contractors quickly became BOMBARDED with business and only the good ones could keep up. It was like a house of cards watching these pool companies trying to keep up with the sudden demand in business. Homeowners were told wait times could be as long as a year before companies could even get started on their pools. Some people used this as a reason to just buy a house with a pool for a premium to avoid having to wait so long for a pool home. 

 

 

Year-Round Appeal: Contrary to the seasonal nature of swimming pools in some regions, the value of these aquatic amenities surged as they transformed into year-round attractions. With the advent of energy-efficient heating systems, creative pool enclosure designs, and built-in fire features, homeowners could enjoy the benefits of their pools even during cooler months even if just for the ambiance. This adaptability further bolstered the appeal of homes with swimming pools in Tampa Bay, making them a wise investment for buyers seeking an all-encompassing living experience. 

 

Increased Property Value: Not only do swimming pools enhance the lifestyle of homeowners, but they also contribute significantly to a property's overall value these days. The demand for homes with this feature has driven up property prices, making the initial investment in a swimming pool more than worthwhile if you’re lucky enough to find a contractor who can get it done. Real estate experts agree that the return on investment for homes with well-maintained and aesthetically pleasing pools has reached unprecedented levels in the post-COVID era. There was a time when you’d be lucky to get half the value spent on a pool, whereas now you can get the full value if not more depending on the location.

 

In the wake of the COVID-19 pandemic, the perception of swimming pools has shifted from just a luxurious amenity to a valuable investment in the real estate market. Homebuyers now recognize the multifaceted benefits of having a private aquatic oasis, making it a pivotal factor in their decision-making process. As we navigate through these changing times, it's clear that the ripple effect of the pandemic has altered the landscape of real estate, making swimming pools a lucrative asset for homeowners. Will these investments hold their values over time? Only time will tell, but in the meantime…enjoy your pools!