If you already own a hot tub but have an eye on a newer model, you’ve probably already considered the possibility of trading in your old hot tub for a fresh one.
But how can you go about determining the trade-in value of your current hot tub? There are six important factors you’ll have to consider:
1. The price of used models.
3. Cosmetic condition.
5. Mechanical function.
6. Any upgrades you’ve made yourself.
Let’s find out more about how you can successfully estimate your hot tub’s trade-in value.
1. The Price of Used Models
First, you’ll have to consider how much money your model of hot tub is already selling for on the used market.
To do this, perform a quick internet search for “used [model] hot tubs,” and take note of all the prices you see on various websites.
Then, you might expand your knowledge by calling used hot tub outlets and asking them for the selling price of your current model.
If the used models other people are selling are in perfect condition, your own hot tub may sell for a bit lower price if it has any aesthetic or mechanical problems (more on both of those issues below).
2. Features and Amenities
Chances are, your hot tub is equipped with at least a couple extra features and amenities, and the more desirable features it has, the more it will likely be worth.
Although the ideal combination of features varies from person to person, buyers, in general, are willing to pay a higher price for a hot tub with luxurious features than one that’s more bare-bones.
These features can include:
● The number of jets.
● Electronic controls.
● Water features.
● Cushioned headrests.
● LED lighting.
● Built-in speakers.
● Bluetooth capability.
● A built-in TV.
● Full or partial insulation.
Also, take into account any features outside of the hot tub itself such as a:
● Cover and/or cover lifter.
● Set of steps.
● Caddy or shelf.
3. Cosmetic Condition
Your hot tub can have all the features in the world, but if it looks dingy or weathered your trade-in value will reflect that.
To take stock of your hot tub’s cosmetic condition make a note of any:
● Scratches, pits, dents or cracks.
● Dirt or debris.
● Fading or discoloration.
There are a few other things that can affect your hot tub’s appearance as well, including the:
● Cabinet: An attractive cabinet that hides the hot tub’s interior components will give your hot tub a cleaner overall look.
● Shell color: Although color choice is objective, a sleek neutral color may attract more buyers than a bolder color like bright blue or red.
● Cover: Although not part of the hot tub itself, a well-maintained cover will improve your hot tub’s appearance.
Unsurprisingly, the bigger your hot tub is, the more it’s likely to sell for.
When determining the resale value of your hot tub, make sure to account for its seating capacity, as well as the overall amount of water it will hold: A 500-gallon hot tub will typically sell for more than a 400-gallon one.
Also be sure to note if there are any specialized seats, such as a lounge seat. These can also boost your hot tub’s trade-in value.
5. Mechanical Function
Of course, your hot tub must be functional as well as beautiful in order to fetch the highest trade-in value possible.
When evaluating your hot tub’s mechanical function, take note of its:
● Purification system
● Electrical components
If you find any broken or malfunctioning parts, be sure to have them repaired or replaced before reselling your hot tub.
6. Any Additional Upgrades
Any upgrades you’ve made can impact your hot tub’s trade-in value.
Such upgrades can include:
● A saltwater-based purification system.
● An improved speaker system.
● More advanced controls.
● A more powerful heater or pump.
● New jets or plumbing.
● Added insulation.
By carefully evaluating each of the factors listed above, you’ll be able to come up with an accurate trade-in value you can use whether you’re reselling your hot tub yourself or trading it into a retailer or manufacturer.