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“FIRE STATION NO. 1” AT 25 MILL STREET IN NEWPORT SELLS FOR $3,050,000 

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“FIRE STATION NO. 1” AT 25 MILL STREET IN NEWPORT SELLS FOR $3,050,000 

 

 

Hogan Associates announces the January 14, 2022 sale of 25 Mill Street in Newport, R.I., a stunning former firehouse in the heart of Downtown Newport which is changing hands for the first time in 30 years. The property sold for $3,050,000. Tom Rao of Hogan Associates represented the Buyer, and Michelle Drum & Kate Rooney of Gustave White Sotheby’s represented the Seller. 

25 Mill Street, known as “Fire Station No. 1” is a mixed-use property and is one of the most recognizable structures in Newport. It can be found on the National Register of Historic Properties. One of a kind features include original brass fire pole, 12′ high ceilings, private roof deck, and a 65 foot lookout tower with views of the Newport Harbor that are beyond compare. 

Firehouse No. 1 was originally constructed in 1885 to house one of the first organized fire companies in the country. In 1991, local residents restored it and have lovingly maintained the property since. Now, modern amenities combine seamlessly with historic charm, and 6,500+ square feet of indoor and outdoor entertainment space offer a multitude of options for the next owner.

“This buyer knew exactly what he wanted – a unique showstopper in Newport’s Historic Hill neighborhood,” said buyer rep, Tom Rao of Hogan Associates. “‘Fire Station No. 1’ struck a cord with him immediately, and the deal came together in a matter of days. As a Historic Hill resident, I was thrilled to be involved in the transfer of this iconic property.”

Photo Credit: Michael Osean, Gustave White Sotheby’s

ABOUT HOGAN ASSOCIATES

 

Hogan Associates is an independent Rhode Island brokerage founded by Leslie Hogan and Matt Hadfield, two of Rhode Island’s most experienced agents, each with a strong track record of success in the Greater Newport real estate market. Hogan Associates’ 36 sales agents work on behalf of buyers and sellers of fine properties in the coastal communities of southern RI. The fir

m has offices in Newport and Middletown and is a member of Who’s Who in Luxury Real Estate, an elite broker network with more than 130,000 sales professionals located in approximately 880 offices in 70 countries and territories. In 2020 & 2021 Hogan Associates received Newport Life Magazine’s Best of Newport County award. For more information, visit HoganRI.com.

IN A COVID YEAR, REAL ESTATE CHAMPS PREVAILED 

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IN A COVID YEAR, REAL ESTATE CHAMPS PREVAILED 

 

Celebrating a banner year, with nearly ¼ billion in sales, Hogan Associates honored its top producers at their annual meeting on January 11, 2021. The company’s top 8 agents completed a record $174M in annual sales. Tammy Bass earned top honors with a whopping 90 transactions for a total of $38.5M, followed by The Hadfield Group ($34M), Leslie Hogan ($26M), Jeff Brooks ($22M), Gordon King ($16M), Caroline Richards ($15.5M), Kevan Campbell ($12M) and Cathy Wicks ($10M). In addition to strong sales volume, all 8 agents scored between 96% and 100% on customer satisfaction surveys collected after each transaction by independent, third party, Realsatisfied.com. 

“Sellers had a huge advantage last year, and it wasn’t always easy to win bids and keep deals together. These agents navigated successfully on behalf of both buyers and sellers. They are all amazing pros,” commented broker, Matt Hadfield. 

ABOUT HOGAN ASSOCIATES 

Hogan Associates is an independent Rhode Island brokerage founded by Leslie Hogan and Matt Hadfield, two of Rhode Island’s most experienced agents, each with a strong track record of success in the Greater Newport real estate market. Hogan Associates’ 36 sales agents work on behalf of buyers and sellers of fine properties in the coastal communities of southern RI. The firm has offices in Newport and Middletown and is a member of Who’s Who in Luxury Real Estate, an elite broker network with more than 130,000 sales professionals located in approximately 880 offices in 70 countries and territories. In 2020 & 2021 Hogan Associates received Newport Life Magazine’s Best of Newport County award. For more information, visit HoganRI.com.

Top 10 Things to Know Before You Sign a Real Estate Contract

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Top 10 Things to Know Before You Sign a Real Estate Contract

 

 

 

When an offer on a home or property is accepted, the buyer and seller enter into a real estate contract known as a purchase and sale agreement (often abbreviated to “P&S”). Entering a contract is an exciting step on the path to homeownership. While it may sound straightforward, there’s more to it than most buyers realize. 

 

We’ve compiled a list of the real estate contract questions we most often receive. If you keep in mind these topics before signing a real estate contract, you’ll protect yourself and your potential investment. 

Every Home Sale Requires a Real Estate Contract

Let’s start at the beginning. A real estate contract is a carefully crafted document that outlines a property’s ownership during the home sale process. This is necessary not only for transferring the property’s deed once the purchase is successful, but detailing the agreed-upon price and conditions of the deal being made between buyer and seller. Contracts are meant to be exhaustive and specific in the interest of both parties throughout the process.

Once a home is officially under signed contract, the next several weeks are typically spent meeting finance, appraisal, inspection, and other agreed-upon contingencies. Pending the successful completion of all contingencies to the satisfaction of all parties involved, the closing paperwork is then signed, and the house is considered sold.

Here are the top considerations to check off your list before you sign a real estate contract.

1. Ask whether any deals have fallen through on the property

You can save yourself a lot of time and trouble if you’re aware of any recent deals that have fallen through on the property. For example, if an appraisal contingency wasn’t met, the sellers may still be asking more than the value of the house, which is a deal-breaker. In a case like that, you can skip signing altogether.

2. Carefully consider your buying contingencies

Your buying contingencies protect you by ensuring all conditions are met to your satisfaction ahead of the purchase. Contingency clauses allow you, as the buyer, to back out of a deal if one or more contingency isn’t properly met. Talk with your real estate agent about common contingencies, and ones that may apply to your unique situation. They must all be specified in detail on the contract before signing.

3. Know what you owe, and when

A real estate contract lists earnest money, which is paid upfront once a buyer enters escrow on a property, as well as the agreed-upon down payment, purchase price, and more. Double and triple-check these numbers and ensure you can keep your end of the bargain before binding yourself to a contract.

4. Make sure closing costs are reflected in the contract

Closing costs are the fees and expenses involved in a property’s purchase outside of the down payment. They can be covered by the buyer or seller, depending on the agreed-upon deal. Closing costs include things like attorney fees, taxes, title insurance, and more, and often equate to 3 to 5% of the amount of the mortgage loan. Make sure that details about who is responsible for covering these costs are recorded before signing a contract.

5. Know what will and won’t be included in the sale

The buyer and seller can negotiate on pretty well anything. Maybe the fridge and dishwasher are included but the front-loading washer and dryer set aren’t. Whatever you negotiate and agree upon with the seller should be written into the contract before you sign.

6. Double-check that all agreement deadlines are fair and realistic

Work with your real estate agent to ensure the contract dates are doable. For example, an appraisal can be scheduled and completed in as little as a week, but it can take between 30 and 60 days to secure financing, depending on the lender and your situation. Don’t agree to a schedule that isn’t realistic.

7. Read the contract thoroughly

This may sound obvious, but if you’ve seen a real estate contract, you know that it can be overwhelming! Take plenty of time to read your contract carefully and speak with your agent when clarification is needed. Mistakes and oversights can happen, so do not assume everything is accurate and sign blindly.

8. Understand your legal obligations to the contract terms once you sign

Remember, real estate contracts are legally binding documents. That means any prices, dates, or other terms you’ve agreed to on paper become your obligation. If a buyer fails to meet the requirements they have legally committed to, not only could the deal fall through, but there may be other repercussions.

9. Know that the house isn’t necessarily yours once you sign a contract.

Yes, getting a seller to accept your offer, agreeing to terms, and signing a real estate contract is a big step. But a contract doesn’t get you the house keys! It’s important to know that the property isn’t considered yours until your financing is in place, the appraisal goes through, the inspection is complete, and more. 

10. Understand that canceling a signed real estate contract can be difficult.

The buyer is entitled to back out of a signed real estate contract if a contingency is unmet. However, changing your mind because you jumped the gun on signing may not be possible. That’s why it’s extra important to know what you’re getting into and the true commitment behind signing a real estate contract.

 

If you’re looking for a property in Rhode Island, we’d be happy to discuss your options and answer any and all questions you have about real estate contracts. Feel free to give us a call (401) 680-6588 or send us a message info@hoganri.com.

 

ABOUT HOGAN ASSOCIATES

 

Hogan Associates is an independent Rhode Island brokerage founded by Leslie Hogan and Matt Hadfield, two of Rhode Island’s most experienced agents, each with a strong track record of success in the Greater Newport real estate market. Hogan Associates’ 36 sales agents work on behalf of buyers and sellers of fine properties in the coastal communities of southern RI. The firm has offices in Newport and Middletown and is a member of Who’s Who in Luxury Real Estate, an elite broker network with more than 130,000 sales professionals located in approximately 880 offices in 70 countries and territories. In 2020 & 2021 Hogan Associates received Newport Life Magazine’s Best of Newport County award. For more information, visit HoganRI.com.

 

Home Staging : The Only Decorating That Pays You Back

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Photo Courtesy of Premier Home Staging

Putting a home on the market can be a big decision and an extremely personal one at that. After all, our homes are much more than the structures — they’re where our family memories dwell.

It’s natural for sellers to have a strong connection to their homes. That’s why when they’re ready to part ways with the places where they’ve lived and loved, we emphasize the importance of letting go of their own image of it.

What do we mean by that? Well, we all have a certain idea of our own homes, which makes sense because we’re the ones who decide how it’s decorated, what the rooms and spaces are used for, and beyond. But real estate agents and home stagers may see (and market) it a different way for faster selling and maximum ROI. 

Take it from professional home stager Shannon Brito of Premiere Home Staging, who has staged more than 800 homes and counting. It’s her job to help sellers showcase the full potential of the property. The goal is for the home buyer to fall in love with the property as soon as they walk through the door. The first impression is everything, and that’s where staging comes in.

 

Staged homes sell faster in Newport, RI and beyond.

How a seller’s home appears on the market makes a difference, and professional stagers have an inherent understanding of what buyers want to see.

“The way we live in a house is different from the way we want to market it. Each room should exhibit its best use. When staging, we consider how each room should function for a new buyer. A formal dining room should be shown as such as opposed to a playroom, for example,” Shannon shares. “In general, staged homes sell 75% faster and for three to six percent more than homes that haven’t been staged.”

 

Photo Courtesy of Premier Home Staging

 

Here’s what professional home staging entails.

And no, despite common misconceptions, home staging isn’t the same as home decorating. Staging a home for listing means making it as appealing as possible, neutralizing it, and making sure the home’s best features stand out. Decorating depends on a homeowner’s personal tastes, lifestyle, and needs. This is for the new buyer to decide after purchase. 

What a home stager actually does is to carefully assess the property and provide a detailed report to the seller. This report is essentially a recommended “to do” list to make the listing sing, down to wall colors and light fixtures if the seller is willing. (Pro Tip: Painting is a big bang for your buck when selling a home!)

For many sellers, this written consultation with professional recommendations is enough to help them make smart, informed decisions about how to stage their homes. Others prefer hands-on staging, where furniture is actually brought in and set up (we got the inside scoop that Shannon has her own warehouse space with an extensive furniture selection for staging all kinds of properties!).

Virtual staging is also something that’s being talked about more often, where a house is digitally staged within photos online, but not actually staged in real life. The drawback with virtual staging is that while it may catch the interest of a potential home buyer, that interest may be lost once the potential buyer visits the vacant home. A vacant home is much harder to sell. 

Photo Courtesy of Premier Home Staging

Home staging is considered a low cost for a potentially high reward.

Regardless of a seller’s particular needs, the majority of homes could use staging help to draw out the property’s maximum value and to help them sell faster. Consider this: when homes sit on the market too long, they are subject to price reductions, which are losses for the seller. Staging allows the seller to set a more competitive listing price — and often sell faster to avoid those price reductions.

One question that comes up a lot is about how much staging costs. Naturally, costs can vary greatly depending on the property, whether it’s vacant or occupied, and the type of staging requested. Typically, consultation costs around $300. Vacant staging costs vary greatly, as Shannon shares. For average houses, the cost can be up to 1% of the list price, so a $400,000 fully-vacant house could be staged for $3,500. 

“For most people, selling their home is their biggest financial transaction. Home staging is an investment in your home with a strong ROI,” Shannon says.

With a modest investment and a few weeks of time, depending on your needs, your home will be photo-ready for buyers to fall in love with. 

 

Interested in more information about home staging (or just want to indulge in some fun “before and after” shots)? Call Shannon Brito at (401) 524-3944 or visit http://staginginri.com/.

 

ABOUT HOGAN ASSOCIATES

 

Hogan Associates is an independent Rhode Island brokerage founded by Leslie Hogan and Matt Hadfield, two of Rhode Island’s most experienced agents, each with a strong track record of success in the Greater Newport real estate market. Hogan Associates’ 36 sales agents work on behalf of buyers and sellers of fine properties in the coastal communities of southern RI. The firm has offices in Newport and Middletown and is a member of Who’s Who in Luxury Real Estate, an elite broker network with more than 130,000 sales professionals located in approximately 880 offices in 70 countries and territories. In 2020 & 2021 Hogan Associates received Newport Life Magazine’s Best of Newport County award. For more information, visit HoganRI.com.

MAKING EVERY MOVE COUNT: HOW TO BE A SAVVY MILITARY BUYER

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Making Every Military Move CountBy Tammy Bass and Simi Rush

If your next duty station is in Newport, R.I., and whether you are CONUS or OCONUS, finding a home doesn’t need to be difficult. Virtual tours and inspections, mortgage approvals and closings are commonplace now thanks to Covid. You’re likely accustomed to it, and we are too, as military wives living the military life for 20 years. With stints in Italy, Colorado, Maine, Monterey and San Diego, California, and now Newport, we understand the complications that arise from living far away from your next home. We speak the language (and the acronyms!), know the connections, and do this every day with our clients relocating from duty stations such as Germany and Japan.

Fun fact as we wrap up 2021: more than 75% of our clients who we have assisted in either selling or buying a home this year were military families! We also know that with the opportunity to buy a home in Newport also comes the opportunity to use the purchase as a long-term investment opportunity. We are seasoned in the market to help guide you in the geographic areas and styles of homes that would be most rentable, and we have sold enough homes to honestly inform each of our clients.

Whether you’re planning to retire in your home here, or hope to rent it once you relocate again, let us help you make it easier than ever to buy or rent a house or apartment here without ever stepping foot inside it. Here are a few tips and tricks to buying when coming to your next duty station destination: NEWPORT, RI!

DO YOUR HOMEWORK

It all starts with education, and we’ll help you with this. If you’re relocating to Newport and Rhode Island, make sure you investigate the resources, like schools and extracurricular programs, outdoor activities, and municipal services like the transfer station and tax rate. The proximity to things you need, like open spaces and special learning resources for your kids, or access to city life, for example, could make your decision easier, and it will help us focus your search.

We can help you navigate the Rhode Island real estate process, which is slightly different than other states. Homes tend to be older here than in newer exclusive military communities like Norfolk, Virginia, or San Diego, California, so it’s important to understand the consequences of that age on inspections, pricing, and insurance.

BE ORGANIZED & THINK AHEAD

Start the search well in advance of your need, so you’re not rushed by a lease expiration or other deadline. We have many military families signing now for spring and summer 2022 occupancy, even as much as a year in advance based on duty assignment. So, if you start looking sooner, you’ll have more time to make appropriate decisions and maximize the fluctuating real estate market.

It’s common among military families to invest in a home wherever you go, building equity and adding value to your investment portfolio. This is especially true in Newport County, since it’s a hotbed of rental activity thanks to our history hosting Naval Station Newport (since 1883), the Naval War College (since 1884) and Naval Undersea Warfare Center (since 1869). Consider the property’s rental potential, and you’ll have consistent renters after you’ve relocated to your next duty station.

USE YOUR NETWORKS

The best way to know if a house near ______ (fill in the blank: train station, pond, business district, shooting range, whatever) is right for you is to ask your friends, family and extended network if it poses any unforeseen consequences that you might not have considered. They will tell you honestly based on their experience if it’s a red flag, and you’ll know if you should proceed or wait for the next property.

You can also trust us to share with you details you may not have thought to ask, such as: if there are cracked bathroom tiles or the basement smells, or if its septic system (yes, some properties in R.I. have septic systems!) needs replacing, we’ll tell you. If you need to secure power of attorney or other legal documentation, we’ll advise you. If you want us to help you find a house that might be easily rented, and we will guide you through that and help you understand the implications.

Check out our Facebook group page exclusively for military families to connect with one another about coming to the duty station and rental homes available. This is a great outlet for asking questions, as well as meeting new friends here.

BE FLEXIBLE

Don’t fall in love with a property or even a specific town. We have sold more properties off island this year, even when clients originally requested Newport, because of Aquidneck Island’s competitive market, higher prices, and low inventory— so consider other locations. Rhode Island is a small state, so you might be surprised how close East Greenwich, North Kingstown and even Providence are, and how much more home you get for your dollar. We understand your broad list of needs, and adjust our search to accommodate supply and resources.

HAVE FINANCING

And line it up in advance. We will educate and inform you of the timeline needed to close on a house in RI. There is little worse than losing a house to a cash offer because you had to wait a few days for your loan to be approved, so sort out financing and be ready to sign on the dotted line. Whether you choose to use your VA benefit or use another loan type, we will connect you with local lenders to help you streamline your process and share with you in advance of speaking to them the costs associated with buying a home (inspections and closing costs).

Check out more of Tammy and Simi’s listings here.

Our Favorite Fall Activities In and Around Newport, Rhode Island

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While summer is an easy favorite here in coastal Newport County, fall has much to offer for families, couples, or individuals looking to make the most of the season. When you think of fall, things like pumpkin picking, everything apple-related, and festive hayrides likely come to mind. 

And while we have them in abundance (and some of the best around, we might add — find them here), there are plenty of opportunities to discover something new and unexpected to make a fall tradition out of. Here are some of our favorite local spots, stops, and autumn events to add to your list of fall favorites.

Foodies’ Favorite Fall Events

Bowen’s Wharf Seafood Festival

Bowen’s Wharf Seafood Festival

(Oct. 16, 11 a.m. – 6 p.m.; Oct. 17, 11 a.m. – 5 p.m.; Bowen’s Wharf, Newport)

Coastal Living magazine names this among the “10 Fabulous Fall Festivals on the Coast,” and they couldn’t be more right. This marks the rain-or-shine waterfront event’s 30th year, and all are welcome, free of charge. Everything from chowder and lobster rolls to oysters, calamari, and cold beer and cocktails is available for purchase and there’s live local music to boot. It’s a true representation of all the area has to offer, so bring your whole crew!

Newport Food Truck and Craft Beer Festival

(Oct. 16, 12 – 5 p.m.; Oct. 17, 12 – 5 p.m.; Fort Adams State Park, 90 Fort Adams Drive, Newport)

Dozens of craft brewers and the best food trucks around gather at historic Fort Adams to serve up delicious food and drink in this casual, come-as-you-are, family-friendly outing. Aside from food and drink, the festival offers face painting, a bouncy house, outdoor games, and panoramic water views. 

Newport Mansions Wine and Food Festival

(Sept. 17-19; Rosecliff and The Breakers Stable, 548 Bellevue Avenue, Newport)

This festival is a longstanding local tradition set in one of the most lavish and romantic among the Gilded-Age Bellevue Avenue mansions. It’s an opportunity to taste world-class wines and spirits and the best in local and regional cuisine. Now in its 16th year, the Wine and Food Festival is the spot to enjoy a piece of Newport’s rich history along with all kinds of carefully curated sips and bites. Proceeds support the Preservation Society of Newport County.

Fall Music Series for Music Lovers

Autumn Leaves Music Series

(Dates TBD; Bowen’s Wharf, Newport)

Enjoy live waterfront performances on Bowen’s Wharf as you shop, stroll, and dine soaking up the sounds of jazz and guitar, sax, bass, and more. It’s the perfect accompaniment to an autumn evening out on the town! This season’s performance dates will be announced soon, so be sure to follow their official page here for the latest updates. All events are weather-permitting and subject to change.

Autumn Adventures for Nature Lovers and Leaf-Peepers

Norman Bird Sanctuary Harvest Fair

Photo Credit Discover Newport

(Oct. 5-6, 12-5 p.m.; Norman Bird Sanctuary, 583 3rd Beach Rd., Middletown)

With everything from barrel trains to pony rides, a Children’s Tent, and more, this annual event is all about old-fashioned family fun. Enjoy a cold beer from the Newport Craft Beer Garden and an afternoon outside as you explore this beautiful wildlife preserve. Think local food trucks, vendors, and 70+ artisans in the well-loved Crafter’s Tent. With live music and the fact that this event supports all of the good work that NBS does in the community, you may just want to make this event a fall tradition. 

Fall Foliage Cruise

(Dates and times vary; 2 Bowen’s Landing, Newport)

Checking out the foliage by water is the way to do it! Gansett Cruises offers Fall Foliage Cruises just for that, with daily trips through Newport Harbor and around Narragansett Bay to take in the scenic views while enjoying only-in-Rhode Island food and beverages (Del’s, anyway?). Aside from seeing a Newport County fall in full swing, our favorite part is the little-seen water views of its most famous mansions. A great autumn outing for the whole family.

From the Family-Friendly to Spooky and Downright Glamorous Fall Activities

Newport Ghost Tours

(Dates and times vary; 25 America’s Cup Avenue, Newport)

Up for something spooky? Join a lantern-led, guided walking tour of the City-by-the-Sea’s oldest spots and the ones said to be the most haunted, from the Jailhouse Inn to the White Horse Tavern and more. It’s a festive and informative way to uncover a different part of Newport’s past while getting in the Halloween spirit.

The Gathering at Rough Point

The Gathering at Rough Point. Photo Credit : DriveTribe

 

(Oct. 3, 11 a.m. – 6 p.m.; 680 Bellevue Avenue, Newport)

Cars and caviar? If that sounds like your cup of tea, this luxury garden party during Audrain’s Newport Concours & Motor Week is for you. The Gathering welcomes guests to enjoy local cuisine and drinks at this historic, Doris Duke waterfront property. And to help celebrate Newport’s long history of sportsmanship and motoring, the event is centered around an impressive lineup of classic automobiles, luxury car and lifestyle brands, and celebrity appearances. 

Fall Farmers Markets

(Dates, times, and locations vary per market)

Whether you’re putting together a seasonal meal, hunting for that just-right local gift or just looking to bop around and enjoy, one of the area’s many fall farmers markets are the spot to make it happen. Our favorites are the Aquidneck Growers’ Market, Jamestown Farmers’ Market, and Tiverton Farmers’ Market, each with different offerings but a welcoming, family-friendly vibe and seasonal, grown or made-with-love items galore.

 

ABOUT HOGAN ASSOCIATES

Hogan Associates is an independent Rhode Island brokerage founded by Leslie Hogan and Matt Hadfield, two of Rhode Island’s most experienced agents, each with a strong track record of success in the Greater Newport real estate market. Hogan Associates’ 36 sales agents work on behalf of buyers and sellers of fine properties in the coastal communities of southern RI. The firm has offices in Newport and Middletown and is a member of Who’s Who in Luxury Real Estate, an elite broker network with more than 130,000 sales professionals located in approximately 880 offices in 70 countries and territories. In 2020 & 2021 Hogan Associates received Newport Life Magazine’s Best of Newport County award. For more information, visit HoganRI.com.

Follow on Instagram and Facebook @hoganassociates.

THE TRUTH ABOUT POOLS

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The Truth About PoolsBy Gordon King

You need more space. You’re working from home, extended family is visiting (though it seems like they moved in), the eat-in kitchen isn’t big enough for you all to actually eat in, and by July, you’ll be staring out the glass doors yearning for a little breathing room.

Have you looked closely at the options for extending your living spaces outdoors? The contemporary designs are not as vast and overwhelming as they once were. They’re easier to install (and to remove if you happen to change your mind in 20 years), are significantly less expensive, and smaller, than versions of the past. With the optional outdoor kitchen and patio, maybe even a cabana, pools also have become architectural design elements that are beautiful when lit at night, provide added dining space, get-away-from-everyone space, and add significant resale value to your property.

I’ll admit that several years ago, I feel like I couldn’t give away houses with pools. Buyers considered them an expensive liability, and those who had a pool at their primary residence didn’t want the regular maintenance and cost at their second home. It was a cautionary tale. But that was then. Now, the environment has changed, and buyers view pools as an extension of their indoor living space that are a beautiful way to entertain family if they can’t go downtown, to the beach or out to eat. People are slowly starting to realize that pools can solve their overcrowding issues, and the broader options could fit their current lifestyle.

The main difference is the size. These new pool options are smaller and have a shrunken footprint compared to traditional dig-a-hole-in-the-ground-and-fill-it-with-water structures. These pools and hot tubs are pre-fabricated, meaning they come in sections that are already built and are assembled in a smaller space in your yard. They can be installed anywhere, including on top of the ground, built into the deck or inside on the second floor, and cost a third to 50% of the average “big pool” installation.

The most popular option of Soake Pools, based in New Hampshire, is 13’x7’ and 5’1” deep, comes pre-built and ready to install. Tiles, a salt water sanitation system, concrete shell, and automation, so you can control it from your phone, are standard features, while customizable options like seats, a lockable cover and Static Swim System offer the option to swim for miles in the confines of 13 feet. You can even design your Endless Pool in 3D, with its extensive fitness options, including an underwater treadmill. And this all costs less than a standard in-ground pool.

This flexibility also means regional properties that can be constrained by the location of septic systems and wells no longer automatically eliminate pool options as they have before. These systems occupy a lot of real estate, and you simply can’t put a big traditional pool next to one, because there isn’t enough space. But this smaller pool can be tucked into a corner adjacent to the house and doesn’t jeopardize existing septic or well systems because the overall footprint is much smaller.

It also takes less time to install. For a larger in-ground pool, it can take a year just to get a building permit in Newport, notify the neighbors, then excavate and construct. Though you still need a permit for these smaller pools, it’s not as complicated and there are fewer moving parts so you’ll be taking a dip in a few months.

Then all of a sudden, this second home, which you thought was a weekend thing, now is a destination for seven people who are staying a month to flee the pandemic.

This happened to me too. When my wife and I built our house in California several years ago, we wanted a spot and activity for the grandkids, but didn’t want the upkeep of a big pool. So, we built a glorified hot tub with three tiers and fountains that they could use during the day, and into which we could sneak with a cocktail at night. It wasn’t quite a pool but rather a fun water element they could play in, and it got them out of the house to provide us a little peace.

Did I mention resale value? The extension of your inside living space means your property is physically bigger, so it’s more valuable. And in today’s market, where inventory is low so demand is exceptionally high, that speaks volumes in terms of value. Trust me, this is not an “oh my gosh, what are we going to do with an Olympic-size swimming pool?” conversation you have with your spouse. This is more like, “huh, never thought we’d like this but now that I see it, I really like it,” which has incomparable and long-lasting appeal.

For more about Gordon King and his real estate listings, click here.

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