Renovations and home upgrades can be costly. That’s why it’s so important to consider the resale value they add to your home— even if you’re not planning to sell anytime soon. If the past few years have proven anything, it’s that everything can change in an instant. Many property owners who had no intention of selling couldn’t miss the opportunity provided by a booming housing market.
Plumbing upgrades to add resale value
Here are six plumbing upgrades to add resale value to your home, so you’re ready if an opportunity arises.
Tankless water heaters are becoming more popular with each passing year. According to professional plumbers in Franklin, IN, more homeowners are requesting this upgrade to add resale value to their homes.
These wall-mounted heaters replace the need for clunky old tanks and offer several benefits. In addition to saving space, tankless heaters are more energy-efficient than their predecessors. With traditional hot water tanks, energy is expended continuously to keep water warm, whether you use it or not. With a tankless heater, water is only heated when you need it.
Another benefit is that you won’t run out of hot water— an essential consideration if you have a family home. Tankless heaters are also known as on-demand heaters. You turn on the hot water tap, and the water is heated as it moves through the pipes.
Real estate experts anticipate that on-demand or tankless water heaters will become an expectation among buyers in the next decade.
While older homes offer a lot of character and personality, they have a few pitfalls. Many potential buyers consider outdated home systems—plumbing, electrical, HVAC— a significant barrier when exploring the housing market.
If you’re planning to put your older home on the market, investing in repiping could be a wise investment. Plumbing experts recommend considering this project if your home is older than 20 years. Additionally, if you notice discolored water, pipe damage, odd odors, or changes in your water pressure and repair frequency, it’s time to upgrade.
Smart technology is revolutionizing how we live and run our households. We tend to associate smart tech with home assistants that offer novelty and convenience rather than making an impactful difference. However, there are several areas in the home where smart technology can help save thousands of dollars.
Smart leak detectors are exactly what they sound like. This AI-driven program monitors your plumbing system and notifies you of any changes in water pressure that could be related to a leak. Some smart leak detectors are wired in to shut the water off as soon as a leak is detected. Others include temperature monitoring to alert homeowners if their pipes are at risk of freezing.
The best part is, smart leak detectors are incredibly affordable, often starting at under $100 per unit. More sophisticated models are under $1,000 and can monitor the entire house. This oft-overlooked home upgrade has the potential to save homeowners thousands in water consumption and damage. Potential buyers may not realize that they want this system until they see it in use.
While most modern homes are built with low-flow faucets and toilets, older homes lack this essential upgrade. If your home is more than 20 years old and has the original toilets, you’re likely using 5-7 gallons of water per flush. With an upgraded low-flow toilet, you’ll only use 1.6-2.5 gallons per flush (depending on the model). Low-flow toilet upgrades pay for themselves in a year and are considered a must when buying a home.
Faucet aerators and low-flow showerheads also make a significant difference. Adding a faucet aerator mixes oxygen with the water to cover more surface area while using less water. While you won’t notice a difference when filling a sink to do dishes, it helps you use significantly less water to wash your hands, brush your teeth, etc.
Keep in mind that potential buyers look at utility bills as well as the home’s features. Cutting your consumption costs will go a long way in selling your home and save you money in the meantime.
Eco-friendly upgrades are a must in the modern housing market. The increase of conscientious buyers and rising utility costs won’t go unnoticed when selling your home. Cutting back on single-use plastic is a common goal for many households, with water bottles being public enemy number two (coffee pods are number one).
Adding a drinking water tap with filtration is an ice touch in a modern home. It reduces the need for homeowners to buy filtered water and cuts back on plastic consumption. This addition is especially valuable for homeowners in rural areas that lack access to a municipal water system.
Finally, adding a second or third bathroom will have huge returns when selling your home. If you only have one bathroom, adding another is considered a must to attract buyers. If you have two bathrooms, adding a half bath in a convenient area is also beneficial. Adding a second bathroom can increase your home’s value by an average of over $17,000.
With these six plumbing upgrades to add resale value to your home.