Newswise — As thousands of homeowners consider buying safe rooms, many may wonder whether the investment will increase the value of their homes.
Dr. Randall S. Guttery, clinical professor of real estate and director of real estate programs at the Naveen Jindal School of Management, said that the rooms are not likely to improve home values or command higher sales prices. He compares the expenditure to that of a swimming pool, which typically depreciates 70 percent as soon as it’s done. “I don’t think anyone can ever recoup the money they put into a safe room,” Guttery said.
Homeowners considering storm shelters should be aware of hidden costs. The prices quoted often do not include the high cost of delivery and installation, which can be high.
But that does not mean safe shelters are not worth the money. “Who cares – you can’t put a price on saving your family’s life,” he said.