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Personal Finances / Living Below Your Means

URL:  http://boards.fool.com/at-risk-of-always-being-the-guy-who-things-of-the-30305145.aspx

Subject:  Re: Sauna Date:  10/7/2012  11:03 AM
Author:  InconclusiveFool Number:  867847 of 886579

At risk of always being the guy who things of the cost and practicality, just a few thoughts:

1. In our town, a major remodel (bathroom, hot tub, whatever) would require a building permit, and will trigger a relook at the assessment. Increased assessment would result in increased property taxes.

2. Will installation of the hot tub cause any increased potential liability, hence increased homeowners insurance?

3. What is the total cost of ownership (TCO?) Installation, electricity, water (increased property taxes/insurance if applicable) amortized over the estimated time you'd own your home will average to some cost per year. Is it worth considering the total cost of renting a hotel room or spa with a hot tub for the amount you'd actually use the home tub, and see what the real cost is over time - a cost benefit analysis?

For example, we choose not to install an inground pool in our yard, because when considering the TCO as described above, we can either join the community pool, or rent a hotel room at a place with a beautiful pool, at a far cheaper cost over time.

I know that we are particularly focused on TCO, and many people are not, when it comes to this kind of decision process, but just wanted to offer some alternate thoughts on this subject.
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