Some homebuyers and homeowners may wonder whether a pool is an asset or a liability — but not in the luxury market. And especially not in luxury vacation markets, such as my own area of Rancho Santa Fe and the surrounding region.
For affluent neighborhoods in sunny second-home markets, estates are typically large enough to accommodate aquatic amenities. They’re also elegant enough that such luxurious features can be tastefully assimilated into the architecture. And when this is the case, pools, spas, and hot tubs can add value to properties in several ways.
Nothing proclaims luxury like a spa, pool, or hot tub
Julie Feld – Pacific Sotheby’s International Realty
My experience as a luxury professional dates back to my tenure as Director of Sales and Weddings at the original Ritz Carlton in Boston. It was an invaluable immersion into what world-leading luxury looks and feels like, and what connoisseurs expect.
I’ve learned that the desire for proximity to water never wanes — whether that’s an ocean or lake, a hot tub, or pool. In fact, as affluent buyers permanently relocated to suburban or vacation markets over the past few years, this demand has only increased.
It then comes as no surprise that luxury spas, hot tubs, and swimming pools are prized by clients, offering them prime recreation and rejuvenation in the privacy of their homes. Here are four reasons why your buyers and sellers may want to consider the promise these amenities hold.
1. Many buyers won’t say yes to a home without a pool
Julie Feld – Pacific Sotheby’s International Realty
If you operate in a luxury vacation market, it’s likely that any buyer moving to your area is doing so because a relaxing, indoor-outdoor lifestyle appeals to them — and the joy of poolside lounging is part of their vision. In these markets, spas, pools, and hot tubs are a must-have, not a nice-to-have, and properties that don’t possess them are at a disadvantage.
2. Sellers earn more from homes with these amenities
Julie Feld – Pacific Sotheby’s International Realty
For my sellers here in Southern California, spas and pools serve as year-round amenities that absolutely increase the value of a home. I’ve seen that when a residential property is enhanced by these features, it achieves a resort-like ambiance that can raise its value by over US$75,000.
3. Those who rent their properties enjoy higher returns
Julie Feld – Pacific Sotheby’s International Realty
Some buyers acquire second and third homes in markets like Rancho Santa Fe so they can rent them out for part of the year. My clients with backyard spas and pools have been able to charge additional fees of $500 per week during the peak season.
4. The value of pools, spas, and hot tubs is long-lasting
Khaki Wennstrom – Pacific Sotheby’s International Realty
One of the best things about luxurious aquatic amenities is that they’re not depreciating assets that age poorly or fall out of favor. As long as they’re beautifully incorporated into the property’s design and kept in good condition, the added worth of pools, spas, and hot tubs stands the test of time.
Embracing a wellness-centered aesthetic and lifestyle
Khaki Wennstrom – Pacific Sotheby’s International Realty
In terms of the top design trends for these amenities, naturalistic styles, and settings generally hold the greatest appeal for my luxury buyers.
This can mean a classic Hamptons-style resort area, where the pool is surrounded by grass, and hot tubs and spas — as well as patios and porticos — are adorned with organic accents of wood and stone. Or it may involve a more formal, stately layout, such as the stunning home my team and I recently sold, where the pool and spa were open to the ocean breeze and surrounded by a beautifully landscaped garden.
In almost all cases, these amenities serve as seamless extensions of the living area rather than standalone retreats separate from the home. They need to be conveniently situated to bring about ease, fun, and entertainment — the type of lifestyle where you can step out of your primary suite, enjoy a dip in the pool or a soak in the spa, then grab a drink from your outdoor wine fridge.
For clients, this sense of connection is imperative. And for agents, it’s vital to bear in mind the benefits and expectations associated with these amenities in luxury vacation markets, so that you can help your buyers and sellers maximize value.
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Khaki Wennstrom
Before joining Pacific Sotheby’s International Realty, Khaki Wennstrom excelled in business development, marketing, and public relations for luxury brands. These valuable tools and experiences and her extensive network from coast to coast have been instrumental in her real estate success. She stands out by leveraging her design, networking, marketing, business development, outside-the-box thinking, and investment skills to better represent buyers and sellers of luxury homes in Rancho Santa Fe and surrounding areas.