If you plan to sell your home soon, then you may wonder if there are plumbing upgrades that can increase the value of your home when you place it on the market. While the return on investment (ROI) of any home improvement project can vary based on where a home is located and many other factors, there are some plumbing-based upgrades that tend to have a great ROI throughout the country.
Read on to learn about five plumbing-based home improvements that can increase the resale value of your home and why.
- Replace Outdated Plumbing Pipes
If your home is filled with plumbing pipes made from outdated materials, such as galvanized steel, then replace these pipes with pipes made from modern materials to increase the value of your home.
Galvanized steel pipes are prone to the development of internal corrosion that is often undetectable to the eye upon inspection. This corrosion can greatly jeopardize the integrity of the pipes, creating the need for many unexpected plumbing repairs over time. Polybutene pipes are also undesirable to home buyers, because this material is fragile, and polybutene pipes are known to burst spontaneously.
Replace all outdated plumbing pipes in your home with pipes made from durable, high-quality modern materials, such as copper and/or polyvinyl chloride (PVC), to increase your home value and make your home much more appealing to buyers; no one wants to purchase a home filled with outdated pipes they suspect could spring leaks or develop other problems at any time in the near future.
- Remodel Your Existing Bathroom
The value of a home can increase by about 3.7 percent, or about $11,000 on average, after a bathroom remodel
When remodeling your bathroom, replace outdated fixtures that waste water with water-saving, modern fixtures. Most home buyers today prefer homes with green features that help them save money on their utility bills while also helping the planet. Homebuyers also look highly upon hands-free bathroom fixtures that help limit the spread of germs around the bathroom and home with little hassle.
In addition, since most Americans prefer showers to baths, consider converting your bathtub/shower combo to a large, walk-in shower with a frameless glass enclosure. Add some affordable, yet luxurious shower features, such as a steam shower feature and body jets, to give your bathroom a luxurious feel without investing too much money in luxury bathroom features.
- Add an Extra Bathroom
In some markets, converting existing, little-used home square footage into an extra full bathroom can increase the selling price of a home. In fact, the addition of one full bathroom to a home can increase its value by 5.7 percent, or about $18,000 on average. A full bathroom is defined as a bathroom that contains a sink, toilet, and shower or bathtub.
If you do not have the square footage to spare for a full bathroom conversion, then instead, add a half bath that contains just a toilet and sink to increase home value by about 2.9 percent.
Many homeowners convert existing walk-in closets into half baths, while spare hallways and bedrooms often have unused square footage that can accommodate a full bathroom conversion.
- Install a Tankless Water Heater
A recent study conducted by the real estate marketplace Zillow revealed that homes equipped with tankless water heaters sold for prices four percent higher than their expected value and 43 days faster than expected.
Since many people are willing to pay more for homes with newer appliances and tankless water heaters are so in demand today among home buyers, consider replacing your old, tank-style water heater with a tankless heater to increase the resale value of your home
Tankless water heaters heat water on-demand instead of heating a large tank of water and keeping it hot around the clock. For this reason, tankless water heaters tend to use less energy than tank-style water heaters do. In addition, tankless heaters take up little space in the home.
- Update Your Kitchen
If your kitchen is outdated, then you can reap a great ROI by making just a few strategic kitchen upgrades. Swap out old, inefficient appliances, including your dishwater and refrigerator/freezer combo, with modern, energy-efficient appliances. Install smart appliances in the kitchen, when possible, since homes with smart features are often sought out by today’s buyers.
Finally, swap your single-basin sink for a dual-basin one and couple it with a modern pull-out faucet to improve the functionality of the room.
If you plan to place your home on the market soon or just want to invest in a few home upgrades that will pay off when you do eventually sell your home, then consider making one or more of these five plumbing home improvements with a good ROI. Contact the plumbing experts at Jim Dhamer Plumbing & Sewer, Inc. at 630-964-2222, for all of your kitchen and bathroom remodeling needs today.