I am having designed two townhouses which I plan to rent out once finished. It’s my first development. If I were to sell the townhouses, I would expect them to fetch about $800K each, at today’s prices, or as rental properties perhaps $600 pw each. They tick all the boxes with regards to location. It is at the rear of my existing property, so the investment is attractive to me in that it takes advantage of the considerable land value of the rear of my property which otherwise wouldn’t be accessible.
When it comes to fittings, I am willing to spend a bit more in the area of bathroom and kitchen without going overboard. So I am planning on using fittings that look good, but don’t carry the designer price tag.
The designer has included a spa in the ensuite, which I am not sure is a good option.
For those who have experience in investment properties for rental, would you consider a spa as a worthwhile option compared to a bath of the equivalent size/shape. It is $1,800 vs $600
Spas in a bathroom in my opinion are a bit overated. A spa outside thats another matter!!!
If they are kept as rentals I would imagine that it is another upkeep maintenance issue to consider. If you are to sell them they do look nice!!!
Maybe get in touch with a local realestate agency
Does that 1800 include the pump etc etc plus installation electrician costs if required??
Does that 1800 include the pump etc etc plus installation electrician costs if required??
Thanks. Actually no, that is only the item cost. Installation/electrician costs will probably be hidden among the rest of the building costs, so the actually cost difference may well be much more than $1,200. I’ll think I will leave it out. As you say, it will be just one more potential maintenance problem.
*snap* Fredo agree – outdoor spa’s are much more social and better used
Ladybird,
I think Fredo is right. It might be worth the extra expense if you were selling the townhouses. If you are renting them out, however, then a spa bath is just another item that can malfunction and be costly to be repaired.The oher factor to consider is the need for more water in a spa to get the full 'benefit' this ,may be an issue in areas with water restrictions. Also how many people who have spas actually use them? Mos people don't have the time to fully utilise and appreciate them. If using the spa for children's baths would bubble bath affect the piping etc? Will i lead o a build up of 'gunk' in the pipes which then needs to be flushed out before the next use?
Spas largely appeal to empty nesters or retirees who don't mind spending the money on water and maintenance and who aren't in a hurry! Baths are far more practical for families, both for rental and resale value.
I've rented a house with a spa and I think I only used it as a spa half a dozen times in a year. I wanted a bath for my son and spas are really to big to economically use to bath a child. Needless to say, we used the shower all the time.
Now as a landlord, in my opinion, installing a spa will not increase your rent, so the return on investment is limited, when you consider the costs involved.
However if you are selling the property it may be worthwhile.Definitely the bath – better for children, cheaper to maintain (might have to re-enamel every 10 years, only maintenance needed!) easier to clean for the tenant, better for the environment, less water used!
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