If you’re like most people, you spend a certain amount of your income every year on leisure activities – especially in the summer. These warmer weather months are often full of fun plans with family and friends, enjoying the outdoors and getting a little tan while you bask in those warm rays of sunshine. This expendable income is spent on a wide range of purchases and activities, but three of the most common high-end leisure purchases are swimming pools, recreational vehicles (RVs), and pleasure boats. No question, there is plenty of fun to be had with each of these options. But if you’re looking to maximize the return on your investment, one of the three stands out. We’ll explain why.
Where Your Recreation Dollars Do More
When considering the cost of a swimming pool, RV, or boat, where you live and what, specifically, you buy are factors that play a major role. But, for the sake of discussion, a reasonable rough estimate of what you initially pay for these items is:
- Pool – starting at $30,000
- RV – starting at $40,000
- Boat – starting at $35,000
Depending on variables such as specific brands, models, added features, etc, the average costs for the above three items can change drastically. In addition, an RV or boat does not last more than 10 years on average, and that is if you buy new rather than used. While a pool can easily last a lifetime if properly maintained. You can see that the starting purchase price for each of the above items is quite similar. Not so fast! There’s more to “value” than what you pay up front.
- How many hours of fun will you get from each option? Unless you are retired, RVing and boating tend to be weekend-only activities. A pool, on the other hand, is something you might use every day during the warmer months from May through September (or even longer at lower latitudes).
- What about operating costs? All three have them. However, with the RV and boat, you have to pay for licensing, maintenance, and insurance every year. And to take them anywhere, you have to fuel them, pay for a camping spot or a lake access pass, etc. There are costs associated with operating your pool as well, but the money you spend on electricity and chemicals is minimal.
- Then there’s what we’ll call “entertainment capacity.” You can accommodate a few friends on your camping trip or weekend boating excursion, but those vehicles will only hold so many people. Your pool? Well, you can invite your whole family or the entire neighborhood over for a party. The more the merrier!
- Inevitable travel hassles. From flat tires to traffic jams to mechanical breakdowns… RV’s and boats come with an array of potential problems. Yes, pools have their own set of challenges. But, if you encounter one, it can generally be remedied with a quick trip to your pool supply store, and doesn’t have to derail your weekend.
- Depreciation, anyone? RV’s and boats start losing value the minute you take them off the lot. Over time, their market worth reaches zero and you are left with nothing but operating expenses. A pool, on the other hand, may actually raise the value of your home. And as long as you perform the simple regular maintenance required to keep the pool in great shape, that value holds steady.
- Don’t forget storage costs. Some people have room on their property to store an RV or a boat. If you’re not one of them, you’ll incur costs to store the vehicle.
- How about a rental? If the urge to hit the open road or the water becomes irresistible, you can always rent an RV or a boat. You cannot, however, have an in-ground pool placed in your yard for a summer weekend.
If You Can Have All Three…
If you have the financial means to own a pool, RV, and boat, that’s fantastic. Get all three. But, like most people, you probably have to choose your leisure pursuits wisely. There are a whole host of reasons a pool makes sense. To learn more about the cost of a pool and the virtually unlimited options available, contact your independent Latham Independent Builder today.