Home gym or gym membership, which is cheaper?
If you're thinking about getting a gym membership, maybe you're a little surprised by the costs associated with it. Between sign-up fees and monthly costs, gym memberships can be pricey.
Some people opt to avoid gyms altogether and instead set up a home gym. This can save both time and money. But before deciding to purchase a gym membership or set up your own home gym, take a look at the pros and cons and costs involved.
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Home gym
A home gym is the ultimate in convenience; you need only walk to a room in your house to get a good work out. Many people prefer this over taking a trip to the gym and will find they exercise consistently when they have their own equipment in their home.
A home gym can be anywhere from under $100 to thousands. It all depends on the type of equipment you get. A basic home gym can consist of a jump rope, a set of dumbbells, an ab ball, and a couple of exercise DVDs, all of which can be purchased for a little over $50. A fancier home gym might have an elliptical trainer or treadmill or exercise bike in addition to a weight bench and various sizes of weights.
If you want your home gym to have cardio equipment such as a treadmill, consider looking at used sporting goods stores or in the classifieds for used equipment. Often, these things are being sold for more than half off or more and have barely been used. This can cut your costs considerably for a home gym.
Gym membership
A gym membership typically requires a number of sign-up or "processing" fees, in addition to a monthly fee of anywhere between $20 to up to $100, depending on the gym and its amenities.
A gym membership will provide the types of equipment and amenities that few home gyms will. Pools, hot tubs, free exercise classes, and a wide range of high-end equipment make gym memberships more versatile than a home gym.
You can save money on gym fees by shopping around. Most gyms will offer specials and waive the sign-up fees, so you only end up paying for the monthly fees. These deals come around every now and then, and if you're patient you can take advantage of them.
Which is cheaper?
Deciding which is cheaper - a home gym or a membership - depends on a number of things. If you want access to classes, pools, and lots of high end equipment, then a gym membership is going to be cheaper.
However, if you can get by on basic equipment or don't think you'll make it to the gym very often, you may want to opt for a home gym. Home gyms save on gas money and also on time; there's no time spent in the car driving back and forth.
Obviously, if you purchase a gym membership and only go once or twice a month, it's going to be a waste, and your money may be spent better on equipment in your home that you might be more likely to use. Many places will also offer financing options, so you can make monthly payments towards your home gym that are probably similar in cost to your gym membership, the difference being you will actually own the equipment instead of pay to use it.
