|  Many
consumers shopping for homes have visions of either buying a home
with a swimming pool or building one.
A few
things to keep in mind either way:
-
How does the pool affect the overall value of the home? Remember
that the Appraisal Institute of Canada publishes a survey which
reviews the payback from an investment perspective of the top
ten various renovation projects (see http://www.aicanada.ca/e/findappraiser_home.cfm),
and swimming pools are not even in the top 10! This means that
not only is your payback less than 48%, but it is possible that
the pool may even reduce the value of your home to prospective
buyers who like the home, but prefer landscaping. Although, on
a hot day…
- You
may need a new survey. It is essential to show that the pool is
built on your property (and not on part of your neighbours, for
example), so, clearly knowing the property boundaries can be a
very good thing. You also want to be sure that you are not infringing
on any underground easements, such as for cable TV or telephone
lines. A survey will address this issue.
- Municipal
permits. Be sure to get one or that one was obtained. You want
to be sure that the pool complies with local bylaws. The bylaws,
in part, will contain rules that relate to safety –such
as the fence. It can be dangerous and foolhardy to own a pool
without complying with the minimum safety requirements!
Owning
a pool can be a rewarding experience. When in doubt on the legalities
relating to a pool, please don’t hesitate to do what homebuyers
have been doing for almost thirty years -call the legal experts
at Korman & Associates for a free consultation!
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