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SHOULD YOU ADD A POOL TO YOUR VACATION RENTAL HOME?
Adding a pool to any property can be a big expense, but if you’re thinking of adding one to your vacation home, it can also be an investment that yields big returns. When deciding to add a pool to your vacation rental property you want to start by crunching some numbers. Determine the total cost (installation, deck surround, patio furniture, maintenance) and the added value (nightly rental rate increase, booking increase, etc). If the value is not greater than the cost the a pool may not be the right feature for your rental.
A tip from our vacation rental expert:
“I would note that the pool needn’t be large or extravagant and shouldn’t be something that costs a fortune. People just want somewhere to dunk and relax and throw the kids about from time to time!” -Sophie Leigh-Jones, Luxury Simplified Retreats Manager
We learned about the cost and value of adding a pool when one of our property owners installed a private pool at their Folly Beach vacation rental. We knew their home on E. Ashley Ave was an ideal Folly Beach location and we knew that it had the potential to be someplace special for our guests. While the yard was spacious, we realized that a nice pool would better serve our guests, since vacationers usually want to spend their time either on the beach, or at home lounging around a pool.
In the summer of 2016, before the pool was installed, the home rented for $650/night and was booked approximately 70% of the summer. The following summer (2017) their Folly Beach vacation home was renting at $750/night because of the pool addition and was fully booked for most of June, all of July, and into August. We saw increased profits of approx. $9,000 over a three month period simply by adding a pool to the property. Assuming nightly rates and bookings remain constant, there’s a potential to earn an additional $36K in the year of 2017.
With or without a pool, owning a vacation rental on Folly Beach can cost 30% less than that on Sullivan’s Island, yet can yield the same revenue. If you’re ready to own your OWN Folly Beach vacation rental, 1731 East Ashley may just be the perfect beach getaway to call yours. Currently on the market and already established as an income producing beach rental, this waterfront cottage is waiting for you. Browse the eBook below and explore this charming beach house for yourself …