Swim Spa Financing Options

Dealership Financing

 
One of the most common options for financing is through the hot tub dealership. It’s convenient and easy, and most hot tub companies offer it. In most cases, in-house financing can be handled fairly quickly and customers will know immediately if they’re approved or not. Sometimes financing requires a down payment, and sometimes not. Interest rates change with the market but usually average between 5-15%.

Personal Loan

 
If you’d like an option that offers a slightly lower interest rate, it’s worth checking with your bank, credit union, or other financial institution. Personal loans aren’t super hard to get if your credit is decent, and especially if you’ve had your institution account for a long time and been consistent with keeping money moving through it. In the case of a personal loan, you’d likely have an opportunity for a fixed interest rate and term. Remember, it’s still an unsecured loan, so your credit will directly affect your interest rate for this type of loan.

HELOC

 
Home Equity Lines of Credit are another common form of financing for swim spas and other home and yard improvements. The benefit of one of these loans is that you’re able to work with your lending institution in setting payment terms. Because your home is securing the loan, you’re more likely to lock in a lower interest rate. A HELOC is basically a second mortgage that acts like a revolving line of credit. It can be treated very much like a credit card, but with lower rates. The caveat here is that the rate for these loans are variable, which means they can change periodically. Another benefit of this type of loan is that interest on this loan is tax deductible.
 
The downside to this one is that you’re likely to have escrow, title, and document fees tacked onto your loan, so keep that in mind if you intend to pay it off quickly.

Home Equity Loan

 
A home equity loan is really similar to the HELOC, except it’s for a fixed amount. Where a HELOC is a revolving line of credit, an equity loan gives you the full loan amount upon funding, and you’ll have set payments due every month. Once you have the money in hand (or account), that’s the amount you get, and you can’t withdraw or change the amount except for paying it off or making the monthly payments.
 
Most homeowners have at least a small amount of equity in their homes which would allow for this type of loan, and it is definitely a beneficial option because the interest rate will be lower, and it’s also tax deductible.

Credit Card

 
Okay. Let’s be real for a second. If you have a credit card with a limit that’s high enough to purchase a swim spa, that’s awesome. Most credit cards offer interest rates between 12-25%, which is significantly higher than the other options we’ve discussed. In most cases, it’s painful to see the amount of interest you end up paying on a credit card purchase of this size. BUT if it’s the only option, it’s still an option, and there are people who prefer to do things this way. Or, you could always make the initial purchase with a credit card and then pay it off once your personal or home loan has processed. If you’re a miles collector, this might be your option of choice. Who doesn’t want free stuff or cash back on your biggest purchases?
 
All that said, financially speaking, credit cards are really only good for short-term financing.

Monthly Payment Examples

 
While financing terms and offers will vary from one loan to the next, it’s useful to have a general idea of what your spa finance payments may look like. Let’s take a look at a few scenarios with different amounts borrowed, different interest rates, and different terms. If your financial institution offers a loan financing calculator, even better. Most of them do, so it might help you to check out how much your swim spa would cost monthly if you obtained a loan that way.

Amount financed: 10,000

 
At 0% APR for 36 months, your monthly payment would be $277.78.

At 5% APR for 36 months, your monthly payment would be $299.71.

At 10% APR for 36 months, your monthly payment would be $322.67.

At 15% APR for 36 months, your monthly payment would be $346.65.

Amount financed 15,000

 
At 0% APR for 36 months, your monthly payment would be $416.67.

At 5% APR for 36 months, your monthly payment would be $449.56.

At 10% APR for 36 months, your monthly payment would be $484.01.

At 15% APR for 36 months, your monthly payment would be $519.98.

Amount financed: 20,000

 
At 0% APR for 36 months, your monthly payment would be $555.56.

At 5% APR for 36 months, your monthly payment would be $599.42.

At 10% APR for 36 months, your monthly payment would be $645.34.

At 15% APR for 36 months, your monthly payment would be $693.31.

Amount financed 25,000

 
At 0% APR for 36 months, your monthly payment would be $694.44.

At 5% APR for 36 months, your monthly payment would be $729.47.

At 10% APR for 36 months, your monthly payment would be $806.68.

At 15% APR for 36 months, your monthly payment would be $866.63.

Swim Spa Pricing Overview

 
Swim spas are generally priced from $15,000 to $40,000 or more depending on quality, with an average swim spa costing around $25,000-30,000. They can be a cost-effective option when compared to purchasing a traditional swimming pool, which typically costs between $40,000-70,000+.
 
A swim spa comes as a unit that is fully functioning and only requires some electrical wiring and a level, even spa pad, which means installation can be completed in a day or two. Conversely, installing a traditional swimming pool involves an entire construction project which can take weeks or months to complete, and often has a handful of unexpected costs.

Design Your Own Swim Spa

 
Purchasing a swim spa isn’t just an investment; it’s a lifestyle change that will benefit your entire family. Only you can decide if a swim spa is a good investment for you. Use our online Design Studio tool to select your model, JetPaks, and accessories. Once you’re done, you’ll receive an instant price quote.
 

The post Can You Finance a Swim Spa? appeared first on Bullfrog Spas.

Maximize Your Budget

 
When setting a budget for an investment item, it’s important that you know what you’re comfortable spending and how much room you have for flexibility in that budget. Is it stretchable at all, or is there a hard limit?
 
Once you set your budget, consider your needs and desires for the ideal hot tub. What do you absolutely have to have, and what extras could you live without? Do you have room to consider specific add-ons? If so, how much room, and which add-ons are priorities for you?
 
When you go into the store, make sure you select a model that starts out around mid-budget because chances are that you’re going to want at least one or two add-ons, such as steps or a cover-lifter. These can be added into financing, and designs and options constantly evolve, so purchasing them at the same time as your spa is always preferable if you can handle it. It’s also important to ask about water care and programming options, as well as any adjustability the spas offer because some of these optional features must be added on when the spa is built and can’t be purchased down the road. Water care systems come to mind here, and since water care is an ongoing cost, asking about it early can potentially save you a lot of unnecessary expenses.

Cheaper isn’t Always Better

 
Let’s be honest here. We all love a great deal, but there’s a big difference between inexpensive and cheap, and the price of a product doesn’t always reflect this. But sometimes it does. This is the part where you have to look hard at spa quality and how the product is made. For instance, how does this product fare over harsh winters or summers?
 
If you’re reading reviews and see mentions of freezing pipes or pumps, or cracked shells, cabinets, or other components, pay attention to those details. The truth is there is just no way for some low-low priced hot tubs to be built in a way that will ensure that they last more than a few years.
 
Another point to consider is the level of chemicals the spa will require. Most brands have completely different technology for clean water care, and this is a big area where you get what you pay for. If your cheaper hot tub requires twice the chemicals and has to be repaired multiple times a year, did you really get a better deal? Most well-made spas have self-cleaning or specialty water care options and strong warranties.
 
Make sure you’ve considered the ongoing costs of owning a hot tub because energy efficiency (or the lack of it), chemicals, and filters can add up and, in a lot of cases, end up costing you more down the road. In addition to these monetary costs, don’t forget the time required for maintenance. How much time are you willing to dedicate to caring for your spa long-term? How much is your time worth? Is there a way to minimize that time requirement?
 
*pro-tip: If you’re determined to negotiate something about your spa purchase, water care is one of those areas where you may be able to get some products, filters, or systems included in your spa price.

Getting the Best Deal on Your Hot Tub

 
Once you have a good idea of some models that fit your requirements, it’s time to go into your local hot tub dealer and talk about pricing. It never hurts to ask for a better price. Sometimes the dealer has allowed a little extra padding to their pricing in order to allow for this. Or, if they haven’t, they might be willing to tell you about promotions or deals they have scheduled. A lot of times, dealers are able to offer rebates or other special items through the hot tub manufacturer, like special financing rates, and almost all dealers plan in advance for annual or semi-annual sales to clear out older models.
 
If none of these are available for a while, you can always ask what else they can add to your purchase to sweeten the deal.
 
*pro-tip: ask your dealer if they have floor models or clearance spas they’d like to unload. It’s sometimes possible to purchase these spas at a slightly discounted rate, and most of the time, any blemishes or problems are strictly cosmetic.

The Final Negotiation

 
You are now armed with some important information that should inform your hot tub purchase decision. All that’s left to do now is to make some decisions on these points we’ve discussed and figure out what’s negotiable and what is not and what possible additions can be made to save you money down the road.

The post Are Hot Tub Prices Negotiable? appeared first on Bullfrog Spas.

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Hot Tub Financing Options Overview

When it comes time to pay for your spa, it helps to know there are hot tub financing options beyond cash and credit. Not everyone has or is comfortable using a chunk of cash from their checking account to pay for a larger ticket item all at once. And credit cards typically come with hefty finance rates hovering around 20%.

Let’s take a quick look at the benefits to financing your spa purchase.

• Financing a hot tub makes your larger ticket purchase affordable.
• When financing and spreading out the costs over time, you can feel good about including your preferred features and accessories rather than settling for less.
• And of course, hot tub financing avoids depleting your checking or savings account.

Just as you would with a car purchase, it’s helpful when purchasing a spa to look at all the payment alternatives and ensure you’re making a smart choice for your own personal finances. These include home equity lines of credit (HELOCs), home equity loans, personal loans, and spa financing through your spa dealer.

Home Equity Lines of Credit (HELOCs)

What is a HELOC and how does it work? A home equity line of credit is essentially a loan that functions like a credit card. It’s set up as a revolving line of credit for a stated maximum amount you can draw from or up to, rather than giving you a fixed dollar amount from the outset. Offered by your lender, the HELOC uses equity in the home as collateral and can serve as a type of second mortgage.

Since the balance on a HELOC can vary from day to day, the interest is calculated daily instead of monthly. There are two time-frames to be aware of with HELOCs: the draw period when funds from the loan are available for withdrawal and the repayment period when the draws taken must be repaid. It’s important to identify both so you know when interest is accruing and how long you have to spread out the costs of your purchase.

HELOCs are ideal for helping fund home improvement projects that come up, like adding a place to relax, rejuvenate, and unplug in your backyard. These lines of credit allow you to draw and pay interest only on the amount you use and the interest is tax deductible. The upfront costs are typically low and some HELOCs can be converted into fixed-rate loans if your improvement project becomes grander in scheme.

To get a HELOC, you apply through your home mortgage lender. The process is similar to getting a mortgage–the lender will want to know your employment and income details and current recurring expenses, along with the value of and equity in your home.

Home Equity Loans

How are home equity loans different from home equity lines of credit? Home equity loans are similar to HELOCs in that you’re still using equity in the home as collateral to secure the loan. But as you’d guess, this is a more conventional loan with a fixed funding amount that’s repaid in equal monthly installments over a set period of time.

Again, good for intermittent needs like home improvement project, a home equity loan acts much like a second mortgage with similar rates and can be secured through your mortgage lender as well as other lenders, banks,  or credit unions. Be aware that these loans may have closing costs associated with them just as a mortgage does.

Advantages of home equity loans for spa finance typically include lower interest rates as compared to credit cards and other loan types (since they’re closer to actual mortgage rates), longer terms like mortgages, and the ability to borrow greater sums as long as you have the equity to cover it.

Personal Loans

A personal loan is simply money borrowed from a lender that’s repaid with interest in monthly installments over a set time period without anything but your credit to secure it. Personal loans generally have fixed-rates dependent on your credit score and history and offer another option for new or unanticipated events, as many home improvement projects turn out to be. You can apply for these loans through most financial institutions like banks and credit unions in addition to more non-traditional lenders online.

Since personal loans don’t involve your home and home equity, the main advantage they offer is easier application and speedier processing time. Whereas a home equity loan approval can take weeks, personal loans can often be secured in a matter of a day or two. The trade-off here is that rates on a personal loan tend to be quite a bit higher–somewhere in the middle of home equity loan and credit card rates.

One established online lending provider who offers specific hot tub financing is Lightstream.com. For buyers with good credit, Lightstream offers competitive rates and doesn’t charge extra fees. Same-day funding is possible, and there’s even the option of choosing a different funding date so you can offset the timing to match your hot tub financing schedule.

If you are working on building your credit score and don’t necessarily qualify for a good or high credit score loan, there are still options available. The interest rates on a no, low, or bad credit loan, however, will be higher and the total funds offered may be less. The good news with these loans is that they not only help with spa finance, they help build your credit score provided you keep up with making your payments in full and on time each month.

Hot Tub Dealer Financing

It turns out that many hot tub dealerships have relationships with lenders or a lending program so they can offer hot tub financing directly to their customers. Just like auto dealerships, spa retailers’ rates can start at 0% and go up from there. Dealers frequently tie in special hot tub financing terms to periodic in-store promotions, which occur around certain holidays and events. For more on when to look for these special promotions, see Best Time to Buy a Hot Tub below.

The are two primary advantages when you finance hot tubs through the dealer: 1) simplification of the purchase process and 1) convenience–everything goes through one source and gives you an immediate response about approval. Dealers who offer financing  for hot tubs work through financial institutions or their manufacturers who have established hot tub financing programs with reputable lenders. Even if you’re not buying during a spa financing promotion, their rates are generally competitive or better than personal loan rates offered outside the dealership.

Hot Tub Financing Comparison Table

Monthly Payment Examples when Financing a Hot Tub

While hot tub financing terms and offers will vary from one loan to the next, it’s useful to have a general idea of what your spa finance payments may look like. So let’s take a look at a few scenarios with different amounts borrowed, different interest rates, and different terms.

1. Amount financed: $7,000

• At 0% APR for 36 months, your monthly payment would be $195.
• At 5% APR for 36 months, your monthly payment would be $210.
• At 10% APR for 36 months, your monthly payment would be $226.
• At 15% APR for 36 months, your monthly payment would be $243.

2. Amount financed: $10,000

• At 0% APR for 48 months, your monthly payment would be $209.
• At 5% APR for 48 months, your monthly payment would be $231.
• At 10% APR for 48 months, your monthly payment would be $254.
• At 15% APR for 48 months, your monthly payment would be $279.

3. Amount financed: $13,000

• At 0% APR for 60 months, your monthly payment would be $217.
• At 5% APR for 60 months, your monthly payment would be $246.
• At 10% APR for 60 months, your monthly payment would be $277.
• At 15% APR for 60 months, your monthly payment would be $310.

What to Avoid when Financing a Hot Tub

Of course, you want to avoid the obvious pitfalls when you’re navigating the methods of spa finance: not considering all your options, misrepresenting your income when applying, and missing payments. But there are other tips you’ll want to be just as aware of.

Unfortunately, the business of lending includes scammers and predatory providers particularly online. To avoid getting involved with one of them, it’s important to do your due diligence when making a selection. Here’s what you want to watch for.

You don’t want a lender who:

• Isn’t registered to do business in your state.
• Doesn’t report to the major credit bureaus.
• Doesn’t readily disclose fees and terms.
• Requires upfront fees prior to funding the loan.
• Doesn’t have a safe, secure website.

When you start looking at lenders, the first thing to check on is where they’re registered to do business. This info can easily be found on your state’s financial institution regulatory bureau website. You’ll also want to make sure they report to the major credit bureaus, especially if you’re wanting to improve your credit score.

It’s also important that the rate, fees, and loan terms are clearly stated. This often means reading the fine print to make sure there aren’t any surprises that pop up during the lifetime of the loan. No reputable lender will ask for fee payment before you receive loan funds. Many incorporate their fees into the loan itself to avoid any extra upfront and/or closing costs.

Lastly, make sure your privacy and security will not be an issue. If you’re using an online lender, their website should start with “https” instead of “http.” This is the current standard for ensuring your personal information won’t be hacked or compromised.

Best Time to Buy a Hot Tub

As mentioned above, spa dealers have consistent times of the year when they host sales events with special discounts and promotions for the consumer. The most common sales periods occur when they’re trying to move inventory quickly, usually when they’re about to get new models in.

Hot tub manufacturers typically work on a calendar year, releasing new models in January. So dealers will often offer deep discounts late in the year (December) and at the very beginning of the year. Otherwise, holidays like Memorial Day and Labor Day tend to be popular times for dealer sales events.

You can learn more about when and where to look for the best hot tub sales and promotions with this article on Best Time of Year to Buy a Hot Tub.

Installation Costs

When talking about hot tub financing, it helps to know what the total costs of your hot tub purchase are going to be in order to secure the right amount of funding. In this comprehensive guide on financing a hot tub, we’ll break down all potential costs a buyer may need to put together a working budget. Let’s start with pre-purchase installation costs.

Foundation

An average 7 ft x 7 ft hot tub weighs in around 700-800 pounds dry and holds over 325 gallons of water. Needless to say, you want to make sure what you’re setting the spa on top of is strong enough to hold it. An inadequate foundation, particularly one that isn’t completely flat, can lead to damage as well as a voided hot tub warranty.

If you’re not placing your spa on an existing patio or deck, one of several other foundation or flooring options is recommended. These include different forms of concrete as well as crushed rock or gravel. While concrete slabs or pads tend to be most common, pavers and bricks can offer a more decorative look if you’re wanting to elevate your space in terms of style and design. Please note that concrete foundations should be a minimum of 4 inches thick, reinforced with either rebar or mesh, and attached to bond wire for electrical grounding purposes.

Crushed rock is another alternative and can prove to be a cost-effective one at that. The recommended thickness of a crushed gravel bed is also at least 4 inches–this should be measured after compacting to avoid settling of the hot tub once in place. Because it doesn’t compact as well, pea gravel is not a good option and should be avoided as a spa foundation option.

For 10’x10’ foundation, costs vary according to material:

• Concrete pad ($6/sq ft): $600
• Concrete pavers ($10/sq ft): $1,000
• Concrete bricks ($9/sq ft): $900
• Crushed rock/Gravel ($1.50/sq ft): $150

Electrical

When considering placement of your hot tub, you want to select a location within reach of a power source and with access to a proper drain or outdoor drainage area. Also make sure you have the proper wiring in place prior to installation. It’s a good idea to check with both local and national wiring rules and a licensed electrician for logistical advice and requirements specific to your area. As you’re finalizing your spa’s location, be sure that the spa is positioned so access to the equipment compartment will not be blocked.

The two electrical needs you’ll need within reach of your spa are: 1) a 240 volt panel with GFCI protection and 2) a circuit breaker.

• 240 volt 50 AMP panel with neutrally protected GFCI: $1,000 (additional cost for longer distances from panel to hot tub)
• 50 AMP breaker: $200

Hot Tub Pricing (with accessories & delivery included)

Chances are if you’re thinking about purchasing a spa but are having a hard time pinning down actual costs associated with the hot tub purchase. Because hot tub prices are still set at the local level, manufacturers don’t typically publish list prices on their products. Though you may not be able to get specific on the price for every model in every configuration without a visit to your local Authorized hot tub dealer, you can get a reasonable estimate on how much adding a hot tub to your home will end up costing in the long run.

Most moderate to high-end hot tubs are built by top manufacturers with quality acrylic shells and well-built frames and cabinets. Consider things like how well the hot tub is engineered, what materials it uses, what jet technology is used, where it’s made (USA and Canada), what equipment like pumps and heaters are used, and the overall reputation of the company. In doing so, you can determine which hot tubs offer the best value. Where a specific hot tub falls in this price range depends primarily on the extent of optional features chosen. For instance, Bullfrog’s A series and STIL models fit this category.

Top quality hot tub manufacturers commonly offer a budget to mid-price spa line as well. These spas have fewer features and less complete hydrotherapy options but still offer good reliability and comfort. To determine value in this range, look for an established brand, established dealer or sales channel, positive consumer feedback, along with manufacturing in the USA or Canada. Bullfrog’s X and R Series are good examples in this range.

Manufacturers do make entry-level spas in the <$6,000 range, but it’s wise to beware. Many spas in this price range are made using methods that produce a limited usable life product with poor materials and workmanship from knock-off overseas companies. And many cost considerably more to operate. For high-quality, entry-level spas, look for those same established higher quality manufacturers as mentioned above.

Keep in mind that these are outdoor hot tubs. They are exposed to environmental factors every day, all day. A well-built hot tub will last much longer than a poor quality spa, often a decade or more. This means your initial purchase price will be spread over more years of use.

• Swim Spa: $25,000 – $40,000
• Elite Luxury: $20,000 – $25,000 with 10+ year life expectancy
• Luxury: $15,000 – $20,000 with 10+ year life expectancy
• Mid-Range: $10,000 – $15,000 with 10+ year life expectancy
• Value: $5,000 – $10,000 with 8-10 year life expectancy
• Entry-level: $2,000 – $5,000 with 8-10 year life expectancy

It’s no secret that hot tubs are a larger ticket-priced product. So it makes sense that you’ll want to own yours for as long as possible. When you decide to go with a top quality spa, engineered to last, you will have on-demand hydrotherapy, relaxation, and fun right in your own backyard. No other product offers as many health and lifestyle benefits.

So, consider the quality and value first when making your decision on which hot tub is best for you. Your purchase price may be a little higher, but you’ll be rewarded with better features, better hydrotherapy, and a lower cost of ownership over time.

Trade-in and Used Hot Tub Considerations

Do you currently have a hot tub you’re looking to upgrade? The benefits of trading up are plenty: a more personalized experience, more powerful performance, savings on energy costs, and updated technology to name a few. It’s worth it to ask your local hot tub dealer if they have a trade-in program so you can reap these benefits sooner rather than later. Retailers oftentimes take your used spa and apply a trade-in discount to your new hot tub purchase. They may even include pick up and disposal services, making the transition from old to new a seamless one for you.

If you’re considering buying a used hot tub rather than new, read this article Should I Buy a Used Hot Tub? first to make sure it’s the right decision for you.

Ownership Costs

Are you wondering how much a hot tub will cost over its lifetime? Before going into specific costs, it’s helpful to compare ownership costs to other expenditures you might make in place of a hot tub. Alternative solutions to getting relief from your aches and pains, the stress of the day, and feelings of disconnection include massage therapy, chiropractor visits, fitness training, and yoga classes. Here’s how each of these adds up over 5 years:

As you can see, the stats show that a hot tub purchase will cost much less over its lifetime as compared to other recovery and rejuvenation options.

But what about comparing ownership costs to those of more general recreational or leisure products? We also have a 5-year cost comparison between a hot tub purchase and a sports car, country club membership, boat, RV, ATV, resort vacation, day spa visits, and swimming pool.

Now we’ve established that the hot tub purchase easily qualifies as a smart investment, the question becomes “What do we mean by ownership costs?” To get a better idea, let’s take a look at a hot tub’s operational and maintenance costs you can expect once your hot tub is up and running.

Cover and Filter Replacement

Because they’re exposed to the environment every day, all day, covers tend to wear out and need replacement about every 4 to 6 years. It’s recommended that filters are changed every 12 to 24 months.

• Cover Replacement Cost: $500 each
• Filter Replacement Cost: $45 each

Energy Usage

High-quality spas are usually full-foam insulated except for the area where pumps and heaters are located. This helps to isolate the hot water in the spa from the cold and keep warmth within. Full-foam insulated spas require much less energy to keep them ready to use.

One way to find energy efficient hot tubs is to look at the data compiled by the California Energy Commission, which keeps hot tub energy use statistics. Pay attention to the spa brands that consistently show at the top of these lists.

Here are monthly energy use costs of comparable 7 foot hot tub models among the major brands. These costs are based on data published by California Energy Commission and estimated at $0.10 per kilowatt-hour (local rates vary).

• Bullfrog Spas: $11.81 per month
• Hot Spring®: 12.60 per month
• Caldera Spas®: $16.49 per month
• Sundance®: $18.15 per month
• Jacuzzi®: $18.80 per month

For a more in-depth look at how energy efficiency works in a hot tub and what to look for when buying, check out this video What Makes a Hot Tub Energy Efficient and our article on Most Energy Efficient Hot Tubs vs Less Energy Efficient Hot Tubs.

Chemical Maintenance

In order to maintain clean water so it’s ready to use at any time, regular use of these items is commonly required to balance spa water: test strips, pH Increaser, pH Decreaser, bromine sanitizer, chlorine sanitizer, oxidizer, and anti-foam treatment. Water should be tested at least every time the spa is used. Of course, the cost of maintenance supplies depends on frequency and volume of use (how often and how many people), so it can vary from one owner to another.

• High Use: $40 per month
• Average Use: $30 per month
• Low Use: $20 per month

Our comprehensive Hot Tub Water Care Guide offers additional insight and tips to maintaining your spa’s water balance and overall health.

Hot Tubs and Home Value

It’s always wise to consider the return on investment when taking on a home improvement project. A hot tub purchase alone, particularly a portable spa that can be moved from one home to another easily, doesn’t always add value. But there are occasions when a hot tub can in fact impact your home’s worth.

When you build your spa into the backyard environs with a designated space or structure to house it, you will typically get a return on your investment. Landscaping around the hot tub also helps, plus it improves the overall experience while you’re still the owner and primary user.

You can find additional info on how a hot tub can increase the value of your home in our article Home Improvement: Does an Outdoor Hot Tub Increase the Value of Your Home?.

The post Hot Tub & Spa Financing: Your Go-To Expert Guide appeared first on Bullfrog Spas.

 
But of course, this all depends on your needs and budget. So if you’re interested in getting a swim spa for your home, let’s walk you through the costs to help you make the right decision.

There are three main factors involved in swim spa costs: the purchase/upfront costs, delivery and installation costs, and ongoing maintenance costs.

The Purchase Cost

Low-End Model Prices

Low-end swim spa model prices can range from $7,000 to $15,000. Keep in mind, because they’re designed to keep the costs low, these swim spas may not be nearly as efficient at keeping the water clean as higher quality  models. This can lead to high energy bills, since the filtration system has to work around the clock to keep the water clean. These low-end models are also more likely to have quality issues, offer fewer features and accessories, and don’t provide advanced therapy options.

Mid-Range Model Prices

Mid-range swim spa model prices can range from $16,000–$25,000. These models usually come with a better build and a larger warranty. More importantly, they come furnished with high-quality equipment such as pumps, jets, and current diverters. They might also be more energy-efficient. Swim spas in this price range are generally going to be on the smaller end and have less space for exercising or playing.

High-End Model Prices

High-end swim spa model prices can range from $26,000 to over $40,000. These models are usually larger than less expensive options, offering a more enjoyable swim experience. Moreover, you can rest assured that the best swim spa models come with unique features such as:

• Hydrotherapy jets
• Fitness and exercise kits
• Dual temperature options
• Preprogramed swim workouts
• Swim current jets
• Audio systems
• Lighting and water features
• And more…

Delivery and Installation Costs

Delivery costs can be anywhere from a few hundred to a few thousand dollars, depending on your location and how far the delivery team will need to travel.

There are also installation costs that come with purchasing a swim spa (they are usually not included in the delivery fees). These installation fees can vary as every swim spa and home/business is unique, so there is no one-size-fits-all approach when it comes to installation.

While some places may need to complete additional electrical work, others might need a crane to lift the spa over buildings or other obstructions that are in the way. For reference, installations involving cranes can be around $1,000 or more, and above ground swim spa installations (e.g., raised-deck installs, edge-of-deck installs, stand-alone installs, etc.) typically cost around $1,500.

Ongoing Maintenance Costs

Once you have your swim spa installed and ready to go, there are other various maintenance costs involved to keep your spa safe and clean for yourself and your guests.

Here are a few of the main ongoing costs you’ll find:

• Filtration Costs: It’s important to keep your water clean. Therefore, you will need to regularly monitor your filter chemicals, change your filters, and clean your spa.

• Chemical Costs: In order to keep your water clear and clean, your spa will have an ongoing need for chemical treatments.

• Electricity Costs: When purchasing a swim spa you do need to consider the electrical costs. Swim spas require a 220V/240V power source, so there will be an ongoing energy cost to use your swim spa.

Is the Cost of Swim Spas Worth It?

For many people, swim spas are well worth the cost. They offer the convenience of swimming, exercising, and relaxing (via hydrotherapy) at the comfort of your own home or business throughout each season.

If the swim spa prices are still making you nervous, keep in mind there are ways you can help make a swim spa more affordable.

For example, you can:

1. Purchase a spa that is energy-efficient.Enjoy your time relaxing AND save money while you’re at it. An energy-efficient spa can minimize the energy costs that come with running a swim spa. For tips and tricks on reducing costs, read our ways to reduce hot tub energy costs.

2. Customize the spa design. Even if some high-end models come with unique features, you are not obligated to purchase all of them. In fact, there are spa companies that allow you to design your own spa to help you prioritize your needs and alleviate some of the costs.

3. Take advantage of sales and discounts on swim spas. Many manufacturers or dealers will offer seasonal sales or incentives such as rebates, financing offers, or accessory upgrades.

Design Your Own Swim Spa

 
Purchasing a hot tub isn’t just an investment; it’s a lifestyle change that will benefit your entire family. Only you can decide if a spa is a good investment for you. Use our online Design Studio tool to select your model, JetPaks, and accessories. Once you’re done, you’ll receive an instant price quote.

The post How Much Do Swim Spas Cost? appeared first on Bullfrog Spas.

Energy efficiency is a top priority for many of today’s hot tub owners, and understandably so. An energy-efficient hot tub will reduce energy bills and is better for the environment.

Before you start shopping for a hot tub, it’s important to do your research on energy-efficient hot tubs and learn what to expect from a typical electricity bill when you own a hot tub.

Understanding how much electricity a hot tub uses per month will help you determine your total hot tub energy cost and find more effective ways to cut down your bill. So if you’re wondering how much a hot tub costs to run and what you can do to minimize costs, check out our guide below.

What Makes Hot Tubs Energy Efficient

There are many features that go into reducing energy use with a hot tub. For example, a hot tub that is placed on a solid foundation and has quality insulation will use far less energy than a poorly insulated hot tub on a shaky foundation.

Here are the top factors to look for in an energy-efficient hot tub:

• Placement
• Solid foundation
• Molded composite base
• High-quality insulation
• Air-tight sealing
• Simple plumbing
• Fitted cover
• Dual pump system
• LED bulbs

Ways to Reduce Hot Tub Energy Costs

If you already own a hot tub and are looking for ways to reduce energy costs, check out our expert tips. Fortunately, there are many things you can do to minimize energy usage, even if you own an older or less efficient hot tub.

1. Keep Your Hot Tub on to Retain Heat

It may seem counterintuitive, but leaving your hot tub on can actually save you money on your energy bills. This retains the heat so your hot tub doesn’t have to work as hard to heat up when you’re ready to use it—and you’ll be able to enjoy soaking in it sooner, too.

2. Install a Wind Barrier

Is your hot tub situated in an area that’s prone to wind? From a subtle breeze to a strong gale, any type of wind can make your hot tub work harder to stay heated. Install an attractive wind barrier to keep your guests warm and lower energy bills when using your hot tub.

3. Use a Floating Thermal Blanket

Thermal blankets trap heat to keep your hot tub warm, even when you’re not using it. Placing a floating thermal blanket over your hot tub means it won’t have to spend as much energy getting up to a warm temperature when you’re ready to take a dip. Leave the cover on when the spa isn’t in use to save even more money.

4. Lower the Temperature

Want to reduce your energy bills, but love sitting in your hot tub at maximum heat levels? It may be time to turn the temperature down a few notches. Fortunately, you can still get just as much enjoyment out of your hot tub, and turning it down even one or two degrees can make a noticeable difference in your energy bill.

5. Perform Regular Maintenance

Never underestimate the power of regular maintenance. Keeping up on hot tub cleanings, changing filters, and monitoring spa chemicals will ensure your hot tub is able to run as efficiently as possible. Bonus: It’ll also save you money by reducing repair costs and helping your hot tub last longer.

The post The Best Energy Efficiency in Hot Tubs appeared first on Bullfrog Spas.

The best value hot tubs will not only save you money, but they will still be able to provide the therapeutic and fun benefits of spas and last reliably for years.

To get the best hot tub for the money, you first need to decide which features are most important to you. The more features your spa has, the more money you will spend up front. By deciding which hot tub features you can go without, you can hundreds or even thousands of dollars on the price tag.

Below are some common features to look into.

Jets

Powerful and relaxing jets are the most sought after feature of a hot tub. This is an area that you probably don’t want to skimp on. The best hot tub brands feature customizable jets so you can target the specific muscles that ache in your body.

However, if your primary purpose of buying a hot tub is to entertain friends or family and don’t feel the need for a therapeutic spa, you may want to spend less on jets and more on some of the fun features below.

Water Features

Water features in hot tubs can provide a more enjoyable experience when relaxing in your spa. The soothing sound of a waterfall can help you calm your mind, while more exciting water features can add to your entertainment.

When choosing a spa, check to see if the water features are standard options or require an upgrade fee.

Audio Systems

A built-in spa audio system enhances the time you spend in your hot tub. Connect your phone to your hot tub via Bluetooth to play upbeat songs to improve your outdoor party, or choose a relaxing playlist to help you unwind.

Most audio systems are optional, so you can save some money on your hot tub if you choose not to get one.

Colors

Most hot tubs allow you to choose the color of both the exterior cabinets and the interior shell. Keep in mind that hot tub companies offer premium options that might have an upgrade fee.

These are perfect for you if you care about design and want your hot tub to integrate seamlessly into your backyard landscape.

If design isn’t one of your priorities, however, choose standard colors on your cabinets and shells.

Steps

It’s a good idea to get steps for easy access to get in your spa. However, depending on where you place your spa, such as next to a deck or patio, you may have an easy way to get in your spa without hot tub steps.

Covers and Cover Lifters

It’s recommended to get a spa cover to keep children safe as well as to keep your spa water clean, and there are different options for helping you remove the cover when you plan on using it.

If you’re not as youthful and strong as you once were, you may consider a more advanced lift system that requires no physical effort on your part. Otherwise, you should be able to save money by getting a simpler cover lifter.

More ways to get the best hot tub for the money

Keep in mind that going cheap upfront can cost you in the long run if you compromise on quality.

Like any common appliances such as a refrigerator, or any leisure products such as an RV, you’ll incur some costs over time to use and maintain your spa. Low quality parts and features will only end up costing you more money after all is said and done.

To get the best value for your hot tub over time, consider these 3 things:

1. Quality parts

Pay special attention to what the spa frame and base are made out of. Wood or metal hot tub frames are outdated and will rot or rust from bad weather. And check hot tub reviews to see if there are trends about low quality spa pumps, electrical components, or other parts.

2. Energy efficiency

If a hot tub has trouble staying hot, you’ll notice a big difference in your energy bill. Look for a hot tub with an advanced plumbing design and full foam insulation to help you save money over time on your spa.

3. Water care

If your hot tub doesn’t have good water care systems to keep your spa water clean and clear, you’ll end up spending more money on chemicals, not to mention the extra time you’ll spend cleaning the spa and balancing chemicals. You might want to consider investing upfront in a hot tub with simple water care to avoid long term costs and hassle.

What’s Next?

Now that you know how to get the best hot tub for the price, it’s time to design your own spa online.

Select the model, jets, and accessories you need and get a price quote. You’ll also be sent information about your local hot tub dealer so you can get the help you need purchasing your dream spa. Your dealer can also let you know of any incentives or sales on their hot tubs.

The post How to Get the Best Hot Tub for the Price appeared first on Bullfrog Spas.

• Strategically placed, solid foundation

• Molded composite base

• Quality insulation

• Air-tight seals

• Simple plumbing design
• Fitted cover

Check out this short video, along with details below, that explains these energy efficiency concepts in a relatable, easy-to-understand way:

A Strategically Placed, Solid Foundation

Ensuring the energy efficiency of your spa starts where it’s placed and what it’s placed on. The goal, of course, is to minimize heat loss. A completely solid foundation in an appropriate location will go a long way toward keeping heat in rather than letting it escape unnecessarily. Sure, you need a level area under the spa, but that’s not enough when it comes to efficiency–even grass and gravel have space or “holes” the heat can move through. Simply put, the more solid the surface, the more heat is retained.

Placement of the spa works the same way. A hot tub that sits sheltered on all sides by a corner of the house and tall trees will not lose heat as fast as one placed out in the open, exposed on all sides.

Molded Composite Base

The actual base of the spa can also play a role in heat retention. As with the foundation, the base of a hot tub must be solid (as well as durable and impervious to water) in order to minimize heat loss. Some hot tub bases are constructed out of slats of wood or just a thin layer of plastic, which again allows for airflow and inefficiencies. On the other hand, higher quality units opt for a molded composite base of thick ABS. Not surprisingly, the denser the base, the more heat is retained.

Quality Insulation

Heat retention also has a great deal to do with the quality of your hot tub’s insulation. Without good insulation, heat from the water has an easier time escaping. As the water temp drops, the harder your hot tub has to work to heat up again when you’re ready for your next soak. Spas are usually insulated one of three ways: full foam, partial foam, and no foam. Since the denser the insulation, the more heat is retained, full foam serves as the best option for energy efficiency.

Air-Tight Seals

Hot tub construction typically includes a heating, filtration, circulation, and jet system. Within each system, different functional components are connected using hoses, pipes, couplings, elbows, tees, and other shell fittings. If the joints between these aren’t adequately sealed, leaks form, resulting in energy loss during water or air transport.

Hot tubs are plumbed using plastic PVC tubing, which requires a different sealing process than copper pipes. Sealing a PVC pipe involves coating it in adhesive, joining the pieces together, and then applying a metal clamp to secure the seal. If this isn’t done properly, or steps are overlooked, the seal will be either weak or incomplete, leaving the unit to leak either air or water, which causes not only heat loss but a host of other problems.

Simple Plumbing Design

There’s something to be said for the elegance of the spa’s design in terms of energy efficiency. And basic is best. Here’s why: The more fittings like elbows and union points in the design, the more friction is created ultimately slowing water flow resulting in additional system inefficiencies. And most importantly, the more piping the water has to travel through, the more heat is lost as it cycles through the system. The bottom line is the less plumbing, the more energy efficient your spa will be.

Well-Made Fitted Cover

It’s no secret that heat rises. To keep the spa from being an energy sieve when not in use, it’s critical to have a well-made, insulated cover, especially during the winter. Quality hot tubs typically come with their own fitted covers, designed specifically for that particular spa. The first thing to look for in a cover is high-density foam. The denser the foam, the less heat can seep through. Some covers also feature a heat-reflective material on the underside that reflects rather than block the heat, which may work to sustain water temps. You’ll also want to look for locking clip options to protect the cover from opening when the wind picks up.

Other Considerations

Spa Pumps

There’s a wide range of efficiency on spa pumps, but ultimately you’re going to want to have a spa with a dual pump system for maximum effect. Dual pump systems assign one to circulate the water, and one to run the spa jets, which means that you’re not overworking a single pump. This makes the design more efficient, and makes the pump last longer.

Lights

There’s a big difference between the wattage usage of incandescent, fluorescent, and LED bulbs, with LED bulbs being the most efficient and long-lasting by far. Opt for spas that use them, or consider replacing them soon after purchase.

Additional Tips

• Install some kind of wind barrier.

• Use a floating thermal blanket when not in use.

• Lower the temperature a few degrees.

• Regularly maintain the spa, including changing of filters and monitoring spa chemicals.

Electrical Consumption Testing

A great source for insight into specific brand energy efficiency is the California Department of Energy, which sets baselines manufacturers must comply. Results of these tests are available to the public and can be accessed online. At the very least, you want to ensure the hot tub you’re purchasing has taken and passed the test. If not, chances are that manufacturer is not considered reputable in the industry.  

Get an Instant Price Quote on a Hot Tub

Design Your Own Bullfrog Spa

  Get an MSRP price quote on a Bullfrog Spa model in your area by starting with our Design Studio software. Build your spa just the way you like it. Once you finish, you’ll receive your instant price quote.  

The post Most Energy Efficient Hot Tubs vs. Less Efficient Models: How to Tell the Difference appeared first on Bullfrog Spas.

When It Adds Value

According to HGTV, home improvement projects cost about 20 to 25 cents on the dollar. That means the other 75 to 80 cents spent goes back into the home through increased value. The key is to make sure each improvement is intentional rather than impulsive. So making a plan around a purchase like a hot tub is the key to having it add value.

Essentially, getting value out of a spa is a matter of making it look like part of the property. When a spa is built-in or in-ground, it definitely factors into the price of the house. This includes spa vaults, spas built into backyard patios and decks, or any spa that is directly connected to a home’s water systems.

Attractive landscaping also has an impact on the hot tub’s value. Building around the spa as a fixture makes it feel more permanent while helping it blend in a more visually appealing way–for instance, building a deck around the hot tub, making a patio/pad specifically designed for hot tub specs, adding a pergola or gazebo to the space, and/or building in stairs. That said, the appearance and condition of the hot tub itself, plays a part. Presenting a clean and well-maintained spa is sure to make a difference when it comes to attracting the interest of home buyers.

In colder climates and/or seasonal vacation destinations, having a hot tub retreat can be a major selling point. In fact, vacation rental specialists tripping.com rate hot tubs as the number one value-adding amenity in terms of bookings and owner’s ROI.

When It Doesn’t Add Value

The value question becomes iffier with spas that are portable, meaning they can be removed without construction or remodeling. Since they’re not tied down to the property, it’s expected the portable hot tub will leave when the owners do. As mentioned above, this problem can be circumvented if you build the portable spa into the property so it has a fixed or designated space.

Spas also fail to add value if they’re poorly maintained. Like anything in the house, a hot tub can detract from the home’s appeal if it hasn’t been cared for. Similarly, you’re not gaining anything if the hot tub doesn’t fit with the neighborhood or the local environment. In other words, in order to add value, it has to be something other homeowners in the area would actually desire or appreciate.

It stands to reason that cheap hot tubs models will fall short when it comes to home value since they tend to last only a handful of years even when well maintained. Not many people want to have to fix or replace a spa as soon as they move in. The best investment when purchasing a spa comes down to quality materials, design, and manufacturing. Hot tub reviews and ratings can be an excellent source to learn about brand differences.

How to Maximize your Hot Tub’s Value

If you’re ready to commit to a hot tub purchase and interested in increasing your home’s value, there are a couple of things you can do that will make your efforts worthwhile. First, ensure the spa’s placement is well incorporated into the overall backyard look of the property, so it will be included in the value calculation. At the very least, add attractive landscaping where applicable to maximize its aesthetic appeal.

Next, make sure it’s well maintained: replace any worn-out parts and components, replace filters, and do all needful maintenance. Clean your spa thoroughly to ensure it looks new for realtors and potential buyers.

Lastly, be sure you’ve picked up a quality unit, one that will last 10 years or more–a cheaper unit or one that’s purchased used will not last nearly as long. An experienced dealer from a reputable company can help you find a model that’s right for you, and most units these days come with a variety of fun bells and whistles. For insight into the best places to find quality hot tubs, check out Where Do I Buy my Hot Tub?