Hot tubs - increase property value?

xs2man

xs2man

xs2man

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With all this fine weather, the wife is itching for a holiday. We have a 12 week old though, so not ideal financially or logistically.

However, we do have a budget for home improvements in the run up to a remortgage due next year. So I figured I could get her a hot tub and she would be right happy. The budget comes not from us, and must be spent on the house rather than mortgage repayments.

However, we also have a LTV target to hit next year. Which would obviously be easier if our house had a small increase in value (from last year).

For reference, we are in a 4 bed, detached house in a nice area with other nice extras like dedicated office and dedicated pool room / cinema. So not a dodgy ex council house in a "mini beruit" like area.

Wondering if any of you have had experience of what such an installation does to property values?

My other thought had been solar panels, but that's not as fun.
 
In my view, No.

At the end of the day, should you sell your home, buyers are interested in it due to looking to buy a home, not a hot tub. Seems a rather expensive hot tub otherwise :)

Don't get me wrong, it's a nice feature to have, but I don't think it's likely to increase the value of the property unlike the other features you mention like dedicated office & pool room /cinema.

However, others might disagree.
 
My first thought would be 'cool, hot tub' and my second thought would be 'wonder what went on in it and how dirty it is'. Other people's hot tubs aren't like swimming pools, they've got this aura of grottiness imo.

I think people want to make a home their own, so a 'blank canvass' is what people want as far as is reasonable. Someone else's groping pit isn't conducive to that :p.
 
A pool, yes. Hot tub, no.

They only cost a few grand at the end of the day, and they are not to everyone's taste.
 
Had a hot tub once but I wouldn't pay extra for one - they're a lot of work to keep clean and that.

I'd buy one for my personal love of hot tubs but I'd not buy one to increase value on the house no.
 
It definitely wouldn't increase your value when it comes to LTV ratio as they look at it as a shell really and not what you'd try and sell it for. Only things like kitchens, bathrooms and outside aesthetics would I guess so plough money in to them.
 
No, there was one included with a house I was looking at but I was advised they are quite expensive to keep running.
 
I can't see it adding value either to be honest, even if it does; as already stated it may be more of a turn-off to a buyer.

have you considered getting a decent inflatable hot tub? they're a fraction of the purchase cost and you can store it over winter / take it with you. the real deals cost thousands to buy and install!
 
Decrease house value if anything, same can go for swimming pools.

Even if they don't decrease the houses value it will put people off looking.
 
I'm not looking at selling the place. I'll probably die in this house. I love it with all it's extras over any other house we looked at. It's simply for re-mortgaging purposes.

I get it may or may not put off potential purchasers. But then I know I would have jumped at a house that had one. But I was thinking more along the lines of it complimenting the rest of the house. The cinema room opens into a downstairs lounge which opens right into the garden onto a massive bit of decking before the garden proper, and just all kind of flows as one big entertaining area. So was thinking a hot-tub would be a great addition in selling that aspect of the house.

Will have to think about it a bit more then. Thanks for your opinions though. Was hoping for someone with actual experience to chime in.
 
xs2man said:
I'm not looking at selling the place. I'll probably die in this house. I love it with all it's extras over any other house we looked at. It's simply for re-mortgaging purposes.

I get it may or may not put off potential purchasers. But then I know I would have jumped at a house that had one. But I was thinking more along the lines of it complimenting the rest of the house. The cinema room opens into a downstairs lounge which opens right into the garden onto a massive bit of decking before the garden proper, and just all kind of flows as one big entertaining area. So was thinking a hot-tub would be a great addition in selling that aspect of the house.
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well if that's the case go for it! sounds like you don't need much convincing, and in the setting you described it doesn't sound out of place. I don't think this is a question of adding/taking away value now - it's more of a case of do you want a hot-tub or not?

personally I can't see it taking value off the home if it's as you describe, but I don't know if it will add any either. you could ask a surveyor / valuer?

if you go down the hot-tub route make sure you know what you're getting yourself into maintenance wise!
 
Typical tub is portable unit so wouldn't add to any valuation with lenders I'd expect - plus they depreciate a lot once used and are a game to keep looking nice. If you installed one in ground with no skirt as a permy feature might be more likely, but this is fraught with issues, like service access, stress on the shells, etc.

But if you want one, get it - I think you'll get more use out of it winter when its nice and cold :)
 
If you need to convince your Mrs then "Yes a hot tub will increase the value of your house which will lower you LTV ratio". Just buy one if you want one.

But it definitely won't help with you LTV in reality as the values don't work like sale values.

You'll be much better putting the £5k+ in to your mortgage.
 
Sadly nt otherwise I would install one here.

when looking to buy our house I had hot tub on the list of pros but it had to be new and clean and well location, plus it was well down the list behind location, build quality, kitchen, layout, orientation, yard, garage size,garden potential, network, size, appliances, decor, neighborhood.

Given 2 otherwise identival houses I might pay 1-2K extra for the one with the hot tub but certainly no where near retail value.
 
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Heh, 'must be spent on the house'...as opposed to mortgage repayments, which are just about the most explicit 'spend on a house' purchase money can buy.
 
TripleT said:
Just think though. The prrvious owners have more than likely got jiggy in it... Nice!
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What's wrong with that? as long as it's cleaned since.
No different from the bedrooms of second hand homes, or the shower and bath! Maybe even the kitchen work tops.

Never buy a house from me ;)
 
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