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re: What's the most that you would spend on pool/spa/outdoor kitchen?
Posted on 7/9/17 at 4:27 pm to Warfarer
Posted on 7/9/17 at 4:27 pm to Warfarer
quote:
If I had a 300k home in a nice neighborhood where putting 50k into a nice outdoor area would add 50k of value to the home,
It doesn't do that. In my neighborhood after looking at what the homes around here sold for that did and didn't have the outdoor amenities the price per sqft was similar.
Posted on 7/9/17 at 4:32 pm to BowDownToLSU
You really wouldn't get the full value back in it, especially including a pool.
But, think about the parties you can have there come football season. IMO, with the way ticket prices are, I'd rather host a party at my house with a setup like that, than go to the game and pay the high ticket prices.
But, think about the parties you can have there come football season. IMO, with the way ticket prices are, I'd rather host a party at my house with a setup like that, than go to the game and pay the high ticket prices.
Posted on 7/9/17 at 4:37 pm to lnomm34
quote:
There's almost nothing you can do to a home where you get a 1 to 1 return. Maybe adding square footage to the living areas (bedroom/bathroom addition) gets closer, but even then.
A kitchen remodel in a nice hot can add nearly 1 to 1 return on investment if done well. An outdoor area can add a lot of value in the right situation, but yes, you are correct that 1 to 1 is not likely.
Posted on 7/9/17 at 4:40 pm to JoseVargasTX
Wow Jose that is very freaking nice. Good work my man
Posted on 7/9/17 at 4:42 pm to BowDownToLSU
My first pool was in '79. Learned a lot since... two pools later, the most I've spent was $32,000.... BUT, that was in 1985. I was shocked to see the "inflation calculator" shows $32,000 in 1985 to be the equivalent of $75,000 in 2017!!!
It was a Ewing Aquatech pool back when Sandy Ewing was building extravagant pools for the finest homes in Baton Rouge. I saw many $100,000+ pools he built before '85. That would make money spent well over $300,000 today...some over half a mil... I was lucky and 18 yrs. later was able to sell that home to a job transfer who was specifically shopping for house w/pool. A lot of people aren't so lucky and a pool can wipe out a large percentage of your potential buyers. In my case, even if I would have lost on the sale, I feel like my kids / family got every penny's worth I spent. It was the center of our activities and for two decades, hardly a day passed without using the pool.
It was a Ewing Aquatech pool back when Sandy Ewing was building extravagant pools for the finest homes in Baton Rouge. I saw many $100,000+ pools he built before '85. That would make money spent well over $300,000 today...some over half a mil... I was lucky and 18 yrs. later was able to sell that home to a job transfer who was specifically shopping for house w/pool. A lot of people aren't so lucky and a pool can wipe out a large percentage of your potential buyers. In my case, even if I would have lost on the sale, I feel like my kids / family got every penny's worth I spent. It was the center of our activities and for two decades, hardly a day passed without using the pool.
This post was edited on 7/9/17 at 4:45 pm
Posted on 7/9/17 at 4:49 pm to lnomm34
quote:
There's almost nothing you can do to a home where you get a 1 to 1 return. Maybe adding square footage to the living areas (bedroom/bathroom addition) gets closer, but even then.
Are you dumb..boy?
Posted on 7/9/17 at 5:04 pm to HurricaneDunc
quote:
If I knew I'd be there for a long time (15+ years), I could see myself spending 75-100k. I would be spending the money for my enjoyment of the space, not to get 100% back at resale.
This (above) is a good way to look at it. Some (few) areas will allow a small increase for a pool, in many areas the biggest downside of a pool is you can lose almost half your market because a lot of buyers just don't want what they think is "the hassle" of a pool. Also, check INSURANCE CO's and RATES!!!, some won't even touch it. In some cases it will increase your property taxes, too. In my case, it was one of the best investments I ever made. Like the "quote" above says, if you project a stay of 15+ years with an active family w/kids, you may find it "priceless" for your family and not regret one penny spent. If it's 2-3 years and move, you can potentially lose big.
Posted on 7/9/17 at 5:04 pm to 4LSU2
quote:
Spending 100k for something on a house not under beam that adds zero resale value is absolutely asinine IMO.
While I wouldn't spend 100k, I would never base 20-30 years of potential enjoyment on resale value and what I can recoup. If you plan to use it often and can afford the luxury of these items go for it. The only time i would not do it is if I planned to sell within 5 -10 years.
Posted on 7/9/17 at 5:27 pm to BowDownToLSU
Pool was $25K, Outdoor Kitchen was $ 15K, and Spa Deck with Spa was $ 12K......I'm $ 52K all in
Posted on 7/9/17 at 8:28 pm to BowDownToLSU
I spent 75K just for my outside kitchen but I had to extend my roofline and pour a huge slab. Plus, I went with cypress cabinets and slate tile. I don't know if I will ever get my investment back but I love it! I spend a lot of time out there!
Posted on 7/9/17 at 8:55 pm to 4LSU2
quote:
Spending 100k for something on a house not under beam that adds zero resale value is absolutely asinine IMO.
that's an argument for those that can't afford a pool. you buy a car, use it for 5 years, and it has minimal resale value. same thing with a pool. buy it, use it, money well spent
Posted on 7/9/17 at 9:13 pm to BowDownToLSU
Just spent about $16k upgrading our patio. We live in a small neighborhood with a pool already. rest of the family loves the pool but I hate it, so I wasn't willing to put one in with access to a pool we've already paid for and pay to maintain less than a 1/4 mile away.. I guess it just depends on what you value. We could join a decent club around here for $2,500 a year and have access to pool, tennis, and golf. I'd do that before I spent $100k on a pool/patio setup, but that's just me.
Posted on 7/9/17 at 9:16 pm to Jake88
quote:
I'm not poor and it seems like a huge waste.
Know how I know you're poor IRL?
Posted on 7/9/17 at 9:25 pm to ellishughtiger
quote:
Know how I know you're poor IRL?
How?
Posted on 7/9/17 at 9:29 pm to JoseVargasTX
Thats terrible having those open wrought iron fences.
No privacy.
That neighborhood looks like hell
No privacy.
That neighborhood looks like hell
Posted on 7/9/17 at 9:31 pm to El Jefe
quote:
that's an argument for those that can't afford a pool. you buy a car, use it for 5 years, and it has minimal resale value
Uh, you drive a car every day and need it to make a living
And after 5 years its prob stil worth 50% or so of what you paid
You dont need a pool to make a living
Posted on 7/9/17 at 9:39 pm to Jake88
quote:
How?
Because you wouldn't spend your money the same way this guy would, obviously.
We've got land out in the country. Planning to put a small cabin or something on it one day. It may just be a metal building with a living space in it. I'd rather have that than a nice pool any day, but that's me. I've got in laws who had a pool for years then sold and moved to a house with no pool. They've been in the new house a couple of years and are about to put one in. Said they can't stand not having one. They could spend every off hour doing nothing but sitting by the pool. It would drive me crazy and did every time we went to see them because that's all they wanted to do.
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