Are you thinking about purchasing a hot tub for your home? A hot tub can be a great way to slow down, relax, and relieve stress, not to mention a fun activity for your family and friends. Before you make such a significant purchase, you’ll want to ask yourself a few key questions.
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Tips Before Purchasing and Installing A Hot Tub
Why are you buying a hot tub?
Take some time to consider why you are looking to purchase a hot tub right now and what its primary use will be. Will it be therapeutic for your sore muscles after a long day? Do you plan on letting your friends enjoy a soak every now and then? Does it feel like a great way to spend more time together as a family? Understanding your motivations will help you find the model that works best for you.
Where will the hot tub go?
It’s important to decide on the location of your hot tub and measure the area before you commit. You don’t want to end up with something that won’t fit or will look awkward in the space. Additionally, think through whether your tub will sit above ground on a platform or if you have the space and funds to invest in one that’s built into your backyard or deck. You may also need to check if there are any regulations around how close your hot tub can be to your house or a power source, among other things.
Which details matter to you?
It’s important to think through the design and other details when it comes to finding a tub that’s just right for you. For example, how many seats will you need? Do you prefer air jets or water jets, and what about built-in speakers for music? Are you looking for an energy-efficient option? One that can be used with salt water? Speaking with a local retailer is your best bet for answering these questions. Don’t be afraid to ask for help. Getting advice from an expert will save you time and money in the long run.
What kind of upkeep will your tub need?
In addition to the price of the hot tub, you’ll also want to consider the ongoing costs of maintaining and fixing your tub in the years to come. Hot tubs require regular cleaning, so you’ll need to budget for a professional if you aren’t able to do it yourself. Additionally, heating and refilling your tub will impact your energy and water bills, so you’ll want to consider how to keep those costs down—for example, you might invest in a cover that will help keep your water warm).
What is your budget?
Once you’ve figured out your priorities and narrowed down your options, it’s time to crunch the numbers. Be honest about what you can afford (keeping in mind the ongoing maintenance and any associated installation costs) and your payment options. If you don’t have all the cash on hand, think about how you’ll handle financing. Will you take out a personal loan? If you’re looking at a pricier option, does it make any sense to borrow against your home equity? Do you have other secured loan options, like borrowing against the cash value of your whole life insurance or a universal life insurance policy? Whatever option you choose, make sure it works for your finances and that you understand what payments will look like.
According to iQuanti “The primary purpose of permanent life insurance is to provide a death benefit. Using permanent life insurance accumulated value will reduce the death benefit and may affect other aspects of the policy.”
