Things are finally looking up for the Las Vegas housing market and as a result many current and prospective homeowners are thinking about building new pools. This didn’t just happen overnight, the last few years has been a period of steady growth that is finally showing positive results. Things are not only looking up for current homeowners, builders have also taken advantage of the changing housing market. In fact because of the growth in the housing market, numerous private residences and larger residential complexes are being build or have already finished construction. Buyers have also been taking advantage of these optimistic times by purchasing properties; both new and used.
A great deal of the most recent builders in Las Vegas have wisely taken to building new pools for backyards. This is not only being done for the recreational benefits that come with building new pools, the financial benefits are also extremely attractive as well.
How does this make sense? The most straightforward explanation is simply that a home is worth more when it has more features. A swimming pool is one of the most lucrative features that can be built on a home and it can make up a large fraction of the overall cost when a home is being sold. A home with a swimming pool is a better investment. By building new pools, homeowners have an added level of security just in case the housing market decides to turn sour once more in the future.
Is The Housing Market Really Stable Enough To Consider Building New Pools?
Short answer: Yes. However, we know that a deeper explanation is needed (we would want one). There are many different factors to consider; however, let’s take a look at two of the main reasons why the housing market is really stable enough to consider building new pools.
Rising House Values
Firstly, average house values have experienced noticeable levels of growth in recent times. However, that is not all; industry experts all unanimously agree that there is still a considerable amount of room for these house values to grow; and this growth is expected in the direct future. In fact, in February of this year the Las Vegas area had a media house value of approximately $201,900. This is an impressive 9% increase from just a year earlier. To put this in comparison, the national median for that same time frame was $184,600; a value that was only a 4.3 increase from just a year earlier.
More Homes Being Built
Secondly, more and more builders are finally coming out of the woodwork after years of harsh decline. These new builders are ready to take advantage of the improving housing market. In fact, in Clark County alone home building has experienced a growth of over 13% compared to statistics from 2014 and more than double what statistics from 2011 show. Getting in on this home building trend as an early adopter undoubtedly provides a safer and much more beneficial experience.