BUYING A HOME WITH A POOL
Are you considering purchasing a home with an in-ground pool? Do you imagine hot, lazy afternoons, lounging with friends and family? Become an informed buyer, do your research, and ensure your real estate agent includes the appropriate clauses to protect you from unforeseen expenses on closing.
Unlike kitchen and bath renovations, or the addition of hardwood floors and crown moulding, a pool does not necessarily add value to the home equal to the cost. The fact is, that in most cases it adds little or no value to the home. Some buyers who view a home and love it, turn away from the purchase because of the existence of a pool. Your either love it and really want it, or you don’t.
MORE APPEALING IN SUMMER
Or course buying a home with a pool is much more appealing on a hot summer afternoon, rather in the cold dark days of winter. Often Sellers will display photos for perspective buyers as it appears during the summer months, to show it off at its best advantage.
If you are buying a home during the winter months ensure it will will be opened by a professional pool company, and stipulate that in your offer. Ensure the paid invoice be left so you may take advantage of any guarantees or warranties in the event of problems. Also, request the Sellers have the poo company do a thorough inspection prior to closing date, and ask the Sellers to leave a certificate of inspection or similar from the company.
ENSURE THE APPROPRIATE CLAUSES ARE IN YOUR OFFER
If it has a heater, ensure a clause is inserted in your offer whereby the sellers will warranty that it also will be in good working condition on closing date in addition to the chattels and fixtures.
Obtain information about various aspects of the pool prior to preparing an offer.
- How old is the liner? How old is the pool?
- Were any repairs done to the pool in the last year, if so, by whom?
- Has the pool been opened and closed by a professional pool company?
- If the pool has a diving board, is the pool at a safe and proper depth to accommodate that?
- Is the pool completely fenced in?
- How high is the fence, and does it comply with the by-laws of your city.
- Is all the pool equipment staying on closing. Ensure this is stipulated in your Offer.
- If there is concrete or tiles around the perimeter of the pool, look for any cracks or loose tiles. These could be the source of leaks and future problems.
- Check the soil around the pool and pump for any signs of water saturation.
YOU NEED THE APPROPRIATE CLAUSES
Ensure your real estate agent inserts the appropriate clauses in your offer. You want the Seller guarantees all chattels, fixtures and equipment are in good working order up to and including the day of closing. On closing day, go and check everything to ensure everything is in good working order. The sellers are responsible until midnight on the day of closing. Notify your agent if something is not working properly.
Pools can be a source of great pleasure and fun for both you and for family and friends.
Just make sure you do your due diligence before you take the plunge!
I live and work in STREETSVILLE and have a vested interest in property values here. Are you considering buying or selling or know anyone who is? Give me a call for a complimentary evaluation of your home in this changing market. (416) 717-6331.
When you choose me you are choosing a real estate professional who cares about you and your family. I will listen to your needs and work together with you. As a professional, I will protect your interests to achieve your objectives.
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