Adding a hot tub to a home has become an increasingly popular option. Hot tubs provide relaxing vibes and a luxurious aesthetic. They also make for a great outdoor space for entertaining during the warmer months. But, perhaps most importantly, does a hot tub add value to a home?
When it comes to home improvement projects, potential buyers often look for updates that streamline complex systems in the home. This would include roofs, bathrooms, kitchens, and the like. These projects require an investment of time and money, but often times can really raise the value of the property for a potential buyer.
Though hot tubs require a significant financial investment, the potential payoff can be well worth it. By adding a hot tub to a home, potential buyers may be more likely to make an offer, increasing the value of the home.
What Studies Show About Hot Tubs in Home Value
Though some may think that hot tubs would add to the value of a property, much has been written on the topic and the conclusion is up for debate. A 2019 survey published by the National Association of Realtors found that 73% of appraisers reported that a hot tub adds “no value” to a home.
The Association of Home Appraisers also released a report that claims a professionally installed hot tub can reduce the value of a home by as much as 3%. The NAR survey also found that home sellers who were confident that a hot tub added to their home’s value should realize that expectations may differ from those of the appraiser.
Motivating Factors
When it comes to hot tubs and adding value, the motivation behind the addition is key. While a hot tub may not outright add, or even detract from, a home’s value, the addition of a hot tub could make the difference in a potential buyer’s decision.
Most importantly, having a hot tub in the house can make a potential buyer picture hard-earned time having a relaxing soak surrounded by their new home. The thoughtful addition of a hot tub could thus create a differentiated experience for a potential home buyer and could even increase the cost of the home.
It is also important to note that any new addition, including hot tubs, require regular maintenance and upkeep, either by the home owner or a third party. In order for a hot tub to add value to a home, it must be regularly maintained to ensure that it’s in working order and that it won’t require significant work before being used again.
Are Hot Tubs Worth the Investment?
- Adding a hot tub may increase the aesthetic and entertainment value to a home
- Potential buyers may be more likely to make an offer on a home with a hot tub
- Hot tubs may not necessarily add value to a home, but can motivate potential buyers to takes their offer up a notch
- Despite the cost, hot tubs have long-term maintenance and upkeep implications
In Summary
When it comes to hot tubs and home value, the answer is complicated. A hot tub may not necessarily add value to a home, but can appeal to potential buyers who appreciate the investment and can use it in the home should they purchase it. In the end, a hot tub is a sure to create a more pleasant and inviting outdoor space for entertaining and relaxing.