There are many benefits to having a home bar. A home bar provides versatility for entertaining at home. Entertaining at home has numerous benefits. Some of these benefits include:
It’s less expensive to purchase food and alcohol in a grocery store, liquor store, or membership warehouse club as compared to purchasing food and alcohol in a commercial restaurant, bar, or nightclub. In an environment where inflation has been rising(Opens in a new window), this represents an opportunity to have fun while being budget friendly.
It’s important to realize that building a home bar will have an initial upfront cost, but it is possible to offset those costs with your own home entertaining based your lifestyle. Everyone has their own individual cost calculations to make with this. It’s also possible to buy a home that already has a home bar in place, and you might only make some minor modifications to the home bar that’s already in place.
Social environment control
When entertaining at home, you have immense control over the crowd inside your home. You are socializing with your existing set of friends and others who are already acquainted with your trusted friends. Most people would consider this an environment more conducive to a pleasant time. You can also control the volume of the music and what is playing on a television set. Home events are usually smaller scale and more intimate events, which may be safer from an airborne virus transmission perspective, but not a full elimination of transmission risk.
You might be able to have home entertaining events that combine your favorite games(Opens in a new window) with adult beverages.
With a home bar, there is no mandated closing time. Closing time happens when you decide that it happens. It is best not to be overly noisy for neighbors but if you can control the noise level, you can have a home cocktail in style at 5 AM if you so desire.
Seating may also be more comfortable in your home entertaining space adjacent to the bar.
Alcohol inventory control
With a home bar, you are in control and able to stock the types of beer, wine, and liquors that you desire. It can be a frustrating experience to visit a commercial bar or restaurant and learn that they do not stock your some of your favorite alcohol selections.
Are you convinced yet that a home bar is feasible for you?
If so, you must take a deeper look at what the costs may be(Opens in a new window), if you don’t already have a home bar. A wet bar (a home bar that includes plumbing) will be more costly than a dry bar (one without any plumbing). Electrical work will also add on to the costs. Then, you must consider an area within your home that would make sense for the home bar. There may be a space near a kitchen or a living room that would function well for it. If not, a basement is a quality place for a home bar. An outdoor space(Opens in a new window) is also a viable option.
There is no definitive answer about whether or not a home bar is good for the potential re-sale value(Opens in a new window) of your home. It’s not likely to make that much of a difference when the time comes to sell your home(Opens in a new window). However, the enjoyment of a home bar, cost control, social environmental control, and control over the alcohol served may function as strong enough standalone reasons to invest in a home bar.
CONTACT A LOAN EXPERT