Does Adding A Gym In Your Home Add Any Value?
It's that time of year again. Seemingly everyone is dedicating the next few days, weeks, and months to getting in better shape. That being said, traditional gyms are absurdly crowded right now and will most likely be for the next few months.
So how about just building one in your home? Sounds expensive and it probably will be as exercise equipment is both pricey and difficult to move. That being said, as a society we are very unhealthy and many of us are overweight. To combat this there has been a plethora of movements to help prevent obesity. One such movement has been the increase in home gym ownership.
So we have to ask ourselves, "Does having a home gym truly increase the value of my home?" The short answer is absolutely not! In spite of this, it most certainly will increase the desirability of your home to a certain set of buyers. Think of it like a pool. Study after study has revealed that even if you live in Arizona, a pool will not increase the real value of your home, only the perceived value.
That being said, geography does matter and much like having a pool when it can be over 110 degrees is equivalent to not having to worry about driving to the gym when it's -5 degrees outside. For starters, I have slipped on ice and knocked myself out walking to the gym. No such worries if you have your own gym!
The fact is that by having a home gym, the appeal of your home will increase to a certain subset of buyers. In essence, it's simply a differentiator. The only positive investment would be that of your health. It's one of the few things in life that you can actually control.
Ideas for an ideal exercise room:
First off, it is probably a good idea to get a cardiovascular machine such as a Treadmill, Stairmaster, or an Elliptical machine to get off to a good start as they are by far the most popular machines.
Stationary bikes are good as well but they involve sitting which most of us do enough in a day. A yoga mat is an excellent choice as well. A kettle bell, a couple of sets of dumbbells, a medicine ball, and maybe even a Bowflex (It Really Does Work!) would be more than enough to start your own setup!
If you choose to buy all of the equipment brand new, expect to spend at least $1,500 for lower-end equipment. For top-of-the-line gear expect to spend at least double that. Should you buy used equipment, the cost will be much lower. However, shiny equipment would be more enticing to the potential buyer psychologically. As mentioned, it is a great differentiator and that can be the difference between a quick sell and a prolonged and expensive one.
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*article by Realty Times Staff
The Elkins Home Selling Team with Elite Realty Group provides services with Morristown TN Real Estate For Sale and Morristown TN Homes For Sale to home buyers and home sellers in Morristown Tennessee, Whitesburg, Talbott, Russellville, Sevierville, Bean Station, Dandridge, Pigeon Forge and surrounding communities.
We specialize in working with Home Sellers in getting their homes listed and sold. We utilize the latest and most up to date marketing materials in assuring the job gets done quickly and with the least amount of hassle. Our homes are listed on over 32 different Real Estate web sites including realtor.com, yahoo.com, trulia.com and many others. Each office independently owned and operated.
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