Real Estate Value of Hot Tubs
When you own a home one of the rewarding tasks is improving your property. Banks know that many times the improvement increases the value of the home. This is why they will give you a home improvement loan. When you have limited funds and can’t decide on a bathroom over a hot tub there are a variety of aspects to consider. Owning a hot tub may cost more than $ 8000 and that could be put to good use throughout the property.
Owning a luxury hot tub is about the enjoyment you will receive from it, entertaining friends, hydrotherapy, and relaxation. In real estate there is no appraisal tool that says updating your home with a hot tub will increase the value of the home beyond the amount spent on the improvement. The value of the hot tub will depreciate over time, but when it comes time to sell the house you will be able to receive back what you spent on it. Because there is no hard an fast rule statistically in real estate showing an increase in value it is better to know it will hold its value during the time you spend using it.
The hot tub may add curb appeal to your home. Curb appeal is the irrational desire to have a home because of non-value items which are a part of the home. Swimming pools generally lower property values because of maintenance issues, insurance premiums, and the danger of having children drown. Hot tubs generally do not have these problems. The covers tightly lock on most units, and there is minimal maintenance. So it may not make your house worth more, but it may make it easier to sell.
The amount of curb appeal that a spa adds may be specific to the region of the country you live in. Typically in hot areas hot tubs are used less than in the cooler areas of the country. Many enjoy sitting in warm water while the temperature is low outside. The Pacific Northwest is a prime example of a place where it would improve curb appeal. If you want to make sure that you will be getting the most from your investment see what other people are doing in your area. You may wish to better understand this before you make an investment in a hot tub.
Luxury hot tubs will provide more curb appeal, and hold their value for longer. On key aspect of the hot tub is it’s enclosure, also known as, its cabinet. Soft woods like pine or redwood deteriorate quickly. Oak cabinets require a lot of maintenance. An exotic wood like teak is perfect for the long haul. With options like mood lighting, waterfalls, fountains, and a great number of jets you see what will inspire the new owner to want to have your house. For the same cost of improving a kitchen you can have something else you can enjoy every day.