Do hot tubs add value to a house? What professionals say
The biggest reason why people purchase a hot tub is the joy it brings. Spending time with your family in the warm water on a cold evening, gazing at stars is an experience that does not come with a price tag. Even do use a hot tub is not cheap, many owners are extremely happy with them. But does a hot tub also adds value to your house? Is it an investment that makes sense?
Do hot tubs add value to a house?
Generally, hot tubs do not add a lot of value to your house. Only newer tubs, in good shape and form a good brand, can increase the value somewhat. When the hot tub is in a less ideal condition or not maintained, it can even devalue. Removing a hot tub can be challenging for new owners.
In this post, I will further look at if and how a hot tub can add value to your house. And answer the question if a hot tub is a good investment.
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Do hot tubs add value to a house?
Generally, hot tubs do not add much value to your house. However, if you enjoy using them, they can be valuable for you. If you spend quality time in it with your family and friends, it will have a great Return of Investment (ROI) for you.
Generally, the value of a hot tub depreciates more quickly than other used furniture. As your hot tub gets older, the value it adds to your house declines as well. It worsens if the tub is left unattended for an extended period.
With years of use, hot tubs tend to develop technical issues. It can be a failing pump that needs to be replaced or wear and tear on the shell. Because a hot tub has several components that can fail, most buyers would only pay for the tub if it looks like it is in good shape and they have a positive feeling about it. You will also have some buyers who are just not interested and remove the hot tub after purchasing the home.
– Should I add a hot tub to increase the value of my house?
You have to do a bit of homework before adding a new hot tub to your property to make it more attractive to a potential buyer.
Check if it suits your neighborhood. For instance, homebuyers may be looking to put every inch to good use in an area with smaller yards. They may find an indoor hot tub taking up a lot of space. But if the tub is on your patio, they may find it attractive.
It also depends on the property values in the neighborhood. Hot tubs are luxury items and are expensive to maintain. Often, lower segment homebuyers do not like to pay extra for the used hot tub in the house they are buying.
– Talk with a real estate agent
Talk to a real estate agent in your area to know if adding a hot tub to your property can increase the value. They know if you can get a better price, given the nature of the home buyers in your neighborhood.
There can be several reasons why a potential buyer will value a hot tub. If the buyer is a hot tub newbie, the tub can be a reason to value your property higher than one without it. But the lack of knowledge can mean it is seen as a liability as well. Tub enthusiasts buying your property will check the tub thoroughly before deciding to extra for it.
Generally, people consider hot tubs as personal items. Many would not use a public hot tub because they are skeptical about its cleanliness. The same applies to buying or owning a used tub. In all cases, ensure that it looks at its best. Make the outside and the cover shine. And do not forget the rest of the garden.
Does a hot tub devalue a house?
Generally, having a hot tub does not devalue a house. When it is in bad shape, I would recommend removing it. It may lead to people thinking that you do not take care of your house. When it is in excellent condition, do not expect it to add a lot of value eighter.
What adds value or devalues a house in a real estate deal is relative. Often it is decided by what is trending. A Jacuzzi tub in the 90s was a hip thing to have. But houses with an old Jacuzzi tub from the 90s are not a very attractive proposition for millennial buyers.
The expensive upkeep, the effort needed to take care of water quality, and the uptick in the utility bills can be reasons why people will find it a less attractive addition to the property they are buying. In that case, they see the effort that is needed to remove it.
– Expenses of moving a hot tub from your property
Hot tubs do not always age well. When older or in bad shape, their resale value declines rapidly. This is the reason why you will find classifieds about old hot tubs given free.
To get rid of an old hot tub, owners often give it for free to anybody who will pay for moving it. Because it is bulky, removing it from the property incurs additional costs. The costs will increase if the hot tub is hard to reach.
In such cases, moving the tub involves professional movers and sometimes cranes or dollies. If it can be reached by truck, the cost can be significantly lower. As an alternative, you can break up the hot tub into parts and remove them yourself.
Is a hot tub a good investment?
Generally, it would be best not to look at a hot tub from an investment perspective. When purchasing a hot tub, you invest in your comfort. Similar to you buying expensive garden furniture.
For instance, enjoying some time in the hot tub with your friends is something you will not forget. If you are experiencing backache, relaxing in a hot tub while the jets massage you with warm water is an experience you cannot get from investing in stocks. Spending time with your wife and kid in the warm water on a cold evening, gazing at stars is an experience that does not come with a price tag. Hot tubs are not investments with a huge ROI. They give luxury and comfort.
The tub's value will depreciate as it ages. Even more, if you don't maintain it properly. The upkeep takes time and money. You need to make sure that the water quality is maintained regularly. And parts are replaced if required.
– Look at maintenance cost and increased electricity consumption
If you want to know if a hot tub is a good investment, you also have to look at the running cost. This includes maintenance and increased electricity consumption. Depending on your location and time of the year, heating your hot tub can cost $50 to $100 per month. Hot tub spare parts like the pumps and filters also need periodical replacement.
If you live in an area with a hard winter, you need to winterize your tub correctly. Else it will lead to a damaged shell or broken pipework. Any such damage is costly to fix and will bring down the value of the hot tub to almost nothing.
Suppose you ask me if a hot tub is a good investment. I would say no on the money side, but yes on the personal side. It has given me both quality time and therapeutic experiences. And I'm confident it can provide you this as well.
How much does a hot tub increase home value?
Generally, a home value will not increase significantly when it has a hot tub. But when the hot tub is new and in good shape, it can be attractive to some buyers. This will also depend on the type of hot tub. From the cheapest inflatables to the high-end tubs with automatic jet systems, hot tubs come in many different price ranges.
Hot tubs in a property may add some value, depending on their age and condition. A brand new hot tub can surely add value to the property if buyers are tub enthusiasts. But a hot tub that is 3 to 5 years old may not add anything. A tub that was left unattended will not add any value because buyers will be doubtful about the health of its inner components.
– Transfer of warranty is not always possible
Transfer of warranty is another issue. As with some other equipment, some hot tubs come with a non-transferable warranty. Hot tubs can lead to expensive maintenance issues for their new owners. Buying one without warranty protection is a risky affair. This risk bundled with the effort and money needed to keep it running may put off some buyers.
– Location of the hot tub
Some homebuyers would find the hot tub in the property attractive depending on where it is situated. Depending on the location, outdoor hot tubs are popular with home buyers. Others prefer one that is covered or is indoor. If it is indoor, ensure that the humidity did not lead to any issues.
