Should you invest in a home gym? Is it worth the cost? In other words, when will you break even on your home gym investment and have it pay for itself? What are the pros and cons of investing in a home gym? Let’s explore.
First of all, it’s important to note that there are many different versions of what may be considered a home gym. For example, you could technically do mostly bodyweight exercises leaving you with a very small investment needed.
Or what about resistance bands? You’ve probably heard about the X3 elite bar+bands that’s basically a portable gym. This could even technically be a “home gym”. I always thought the $500+ price tag was a bit ridiculous, fortunately there are cheaper versions for around $100 that are probably almost just as good.
But that’s likely not why you’re reading this article.
You’re considering an actual home gym with weights and machines that you can find at your local gym. You want a real gym.
Is that worth the investment?
With that being said.
How Much Does a Home Gym Cost?
Again, this is going to vary quite a bit depending on how “cheap” you want to go, or how bougie you want to be.
At the bottom end you could get a pretty decent set up for about a grand. This would be a basic rack and some weights from a lower end brand.
And I think we all know that there really is no top range. I’m sure there is some billionaire that has a home gym worth a million dollars or something stupid.
But for the average person looking to get a home gym set up. The price tag will probably range from around $2,000 on the low end to $15,000 on the high end.
A basic set up with a rack and weights will likely put you close to 2 grand on it’s own. Like this:
This isn’t anything crazy, but it’s a full “home gym setup” that comes with everything included and as I’m writing this goes for just over $1500 including 230 pounds in weights.
But a lot of people are going to want more than 230 pounds in weights.
Plus, you’re going to want a dumbbell set up as well. That link (in the last sentence) was for some adjustable dumbbells that work phenomenally well and save space (the exact ones I have), but some people may want actual dumbbells you can throw on the floor. A full set up of those will run you around 2 grand on their own.
You can see how things start to add up. Hence the 2 to 15 grand estimate for an initial home gym investment.
Here is an example of a home gym that is on the lower end of the that range (mine):
All of this probably cost me about $2500, I also have some adjustable dumbbells which brought my total home gym investment to be around 3k or so.
When Will You Make Your Money Back on Your Investment?
That’s the big question right?
And it doesn’t take a rocket scientist to figure it out. You can simply divide what you would pay monthly at your local gym from the total cost of your gym.
So if you spent $4,000 on your home gym, and you were paying $100 at your local gym, then it would take 40 months until it “pays for itself”.
And this is likely a good range to look at, where you’d have it “pay for itself” after a few years.
That alone makes it a good investment, as long as you actually make good use of it!
Another thing to consider is that weights and gym equipment can hold their weight (pun intended) in terms of value.
In other words, if you invested 4 grand it’s not like this is worth nothing years later. The resell value on these won’t be too bad.
Selling in the private market you likely won’t get your initial investment back, but you may be able to sell them for half (or more) of the initial investment you put in.
Weights tend to last a long time and even with regular wear and tear are usually still usable years later.
That being said, a lot of exercise equipment tends to be resold for quite a bit less than the original price tag. Hell, how many people do you know that just give these things away as they sit in their house and never get used!
This is why if you’re investing in a home gym, you’ll want to make sure you follow through on your commitment to use it.
Pros of Having a Home Gym
If you have your own home gym, the best thing about it is that you don’t have to drive and spend time and gas going to and from the gym.
This is a difference maker. Instead of an hour and a half out of your schedule. It’s only an hour, or an hour fifteen.
We all know how valuable our free time is!
And with how gas prices have been lately, saving that extra money on gas is just another way you’re saving by investing in a home gym.
Another “pro” is that it’s your gym.
You can set up your gym exactly how you want it, and you won’t have to wait on people for the equipment to become available. It’s yours and you are the one using it.
You won’t have to worry about that annoying guy in the gym anymore…like this guy…
That guy is no longer your problem.
The Cons of Having a Home Gym
Now, there are some downsides to having a home gym. I mean, the initial investment for most people will probably be the biggest con.
And not line con…like you’re getting conned out of your money…I mean con as a negative aspect. That’s all. Nobody wants to spend their hard-earned money.
But while the value you’re getting may very well be worth it, the biggest downside outside of that in my opinion is that you’re not going to the gym.
Well…yeah. Thanks Mr. Obvious.
But some people really like the social aspect of going to the gym.
Maybe you’re single and want to meet a partner there.
Or maybe you just like being around other people who are also working out because you find that motivating. That is something I’ve heard people say. That other people’s intensity can help lift your own intensity. Okay.
Well, if that’s something you see as problematic then make sure you weigh that when determining whether or not you want to buy your own gym.
Another aspect of this is that you may be missing out on certain classes that you can join at a local gym. If you’re someone that does better with an instructor or trainer, then maybe a home gym isn’t for you.
One other con of having a home gym would be if you aren’t planning on staying in the same place for an extended amount of time. It may not be a big deal, but if you’re moving, you’d want to make sure you have space in your new place for your home gym as well.
That may not be a huge issue, but is something to consider.
Final Thoughts
Having a home gym can be a great investment as long as you make use of what you invested in. It simply won’t be worth the investment if you buy a bunch of equipment that you say you’re reeeally going to start using after your new year’s resolution, but then just…don’t.
That being said, if you use your home gym on a somewhat consistent basis it’s hard to argue it’s not a good investment. You’re saving time and even money after a few years.
What about you? Did this help you consider whether or not a home gym is worth the investment? Let me know in the comments below!