As we approach the summer months, the allure of a swimming pool becomes increasingly appealing for many property buyers. In Sydney, where the climate is conducive to outdoor living, a swimming pool can be a significant selling point. However, it is essential for property buyers to understand the implications of purchasing a property with a swimming pool. From potential value additions to compliance requirements, there are several factors to consider.
Do Swimming Pools Add Value?
The question of whether swimming pools add value to a property is nuanced. While they can indeed enhance the appeal and functionality of a home, particularly for families with children, their impact on property value is not always straightforward. Several factors influence whether a swimming pool will be a valuable asset or a potential liability.
Instances Where Swimming Pools Add Value
- Location and Climate: In regions like Sydney’s Inner West, where warm weather predominates for much of the year, swimming pools are highly desirable. They offer an excellent way to cool off during hot days and can serve as a focal point for outdoor entertainment.
- Property Size and Layout: Larger properties with ample outdoor space are more likely to benefit from having a swimming pool. A well-integrated pool that complements the landscape design can enhance the overall aesthetic appeal of the property.
- Luxury Market Appeal: In high-end markets, a swimming pool may be considered an essential feature rather than an optional luxury. For buyers seeking premium properties, an absence of a pool might even detract from the property’s perceived value by at least the cost of installing a new pool.
- Family-Friendly Features: For families with children, a swimming pool can be an attractive feature, providing endless entertainment and encouraging physical activity.
Instances Where Swimming Pools Do Not Add Value
- Maintenance Costs: The upkeep of a swimming pool can be costly and time-consuming. Potential buyers may be deterred by the ongoing maintenance expenses associated with owning a pool, including cleaning, chemical treatments, and repairs.
- Safety Concerns: Families with young children may view pools as safety hazards unless adequate safety measures are in place. Fencing and covers are necessary but can add to the overall cost and complexity of pool ownership.
- Space Constraints: On smaller properties, a swimming pool might consume valuable yard space that could otherwise be used for gardens or play areas, potentially limiting its appeal. This can be the case in the Inner West where block sizes are frequently less than 300m2. A traditional inner city terrace on a block of less than 150m2 is not suitable for a family sized swimming pool. Indeed, pools that take up almost all the rear yard space will make the property less appealing to most buyers.
Swimming Pool Compliance: What Property Buyers Need to Know
When purchasing a property with a swimming pool in New South Wales, it is crucial to ensure that the pool has been registered on the NSW Swimming Pool Register and that the Contract for Sale of Land contains either a Compliance Certificate or a Non-Compliance Certificate.
What to Check
- Current Compliance Certificate: Buyers should request the current Swimming Pool Compliance Certificate from the seller before finalising any purchase agreements. This certificate verifies that the pool complies with safety standards at the time of inspection. If the vendor is providing a Non-Compliance Certificate, then it is up to the buyer to find out what repairs and alterations need to be made and of course the likely costs, to ensure that a Compliance Certificate can be issued.
- Signage: Confirm that safety signage is visible around the pool area, such as CPR instructions and emergency contact information.
- Pool Condition: Inspect the physical condition of the pool for any visible damage or signs of neglect that could affect compliance or future maintenance costs.
What to Do if the Swimming Pool is Non-Compliant
If you discover that a swimming pool is non-compliant during your due diligence:
- Negotiate Repairs: You may negotiate with the seller to have them address compliance issues before completing the purchase. This could involve repairing or upgrading fencing, installing required signage, or addressing any other deficiencies noted in an inspection report.
- Seek Professional Advice: Engage with a building inspector or a swimming pool certifier who can provide guidance on the extent of the non-compliance issues and advise on potential costs involved in bringing the pool up to standard.
- Budget for Upgrades: If you decide to proceed with purchasing a property with a non-compliant pool, ensure you budget for necessary upgrades or repairs post-purchase.
Who is Responsible?
The responsibility for ensuring pool compliance lies with the property owner at the time of sale. However, once ownership transfers, it becomes your responsibility as the new owner to maintain compliance standards moving forward. The buyer has 90 days from the date of settlement to rectify defects listed in the Certificate of Non-compliance and obtain a Certificate of Compliance.
Conclusion
Swimming pools can undoubtedly enhance the enjoyment and appeal of a property, particularly in Sydney’s warm climate. However, their impact on property value varies depending on several factors including location, maintenance costs, and compliance with safety regulations.
As experienced buyers’ agents in Leichhardt and surrounding areas, we advise our clients to carefully consider these aspects when evaluating properties with pools. By understanding both the benefits and responsibilities associated with owning a swimming pool, property buyers can make informed decisions that align with their lifestyle preferences and investment goals.
For those navigating this complex decision-making process, engaging with professional buyers’ agents can provide invaluable insights and support throughout your property journey in Sydney’s vibrant Inner West suburbs and beyond.
