When the conversation turns toward investing for the future it is talk about stocks, bonds, gold and silver that often dominate the discussion. And as might be expected, the pros and cons of home acquisition or ownership in an era of rising interest rates will also most likely be a part of the conversation.
Seldom discussed, however, are investments in a home that increase its value as well as make it more livable if you are not planning to sell in the immediate future. Topping this list are plumbing upgrades as well as kitchen and bathroom remodels. Plumbing is one of the main components of any home. By improving its functionality, efficiency, and appearance, you can boost your home’s appeal and its comfort. Here are some plumbing upgrades that are worth investing in:
– Replace old pipes: If your home has galvanized, lead, clay, or cast iron pipes, you may be dealing with corrosion, breakage, poor water quality, or even health risks. These materials are not only outdated, they are also prone to an array of problems that can affect your plumbing system as well as your home’s value. You should replace them with copper, PVC, or PEX pipes that are more durable, flexible, and resistant to corrosion. According to numerous studies this investment can pay double digit dividends.
– Install a tankless water heater: A tankless water heater is a smart upgrade that can save you money on utility bills and increase the value of your home. Unlike a traditional water heater that stores hot water in a tank, a tankless water heater heats water on demand as it flows through the pipes. This means you never run out of hot water and you are only paying for what you use. A tankless water heater also takes up less space and it lasts longer than a traditional tank water heater.
– Update faucets and fixtures: One of the easiest and cheapest ways to upgrade your plumbing is to replace your old faucets and fixtures with new ones. This can instantly refresh the look of your kitchen and bathroom. And it can present the impression of modernity. You can also choose faucets and fixtures that are more water-efficient, such as low-flow showerheads and aerators, which can reduce your water consumption and bills. This is another cost saving measure with your utility bills that adds value to your home.
– Remodel your kitchen and bathroom: This requires a larger invvestment but the kitchen and bathroom are the most important rooms in the house for many prospective home buyers. They are also the rooms where plumbing plays a major role. By remodeling your kitchen and bathroom, you can improve their functionality, layout, design, and features. And while you are at it, you can add new appliances, cabinets, countertops, sinks, tubs, showers, toilets, and more. You can also improve the plumbing system by adding more outlets, valves, drains, vents, etc.
Plumbing upgrades are not only beneficial for your home’s value but also for your comfort and satisfaction. By investing in some plumbing improvements, you can enjoy a better quality of life in your home and attract more buyers when you decide to sell it.
As with most succesful programs you will need a smart and knowledgeable partner to get the best return from your investment. When it comes to plumbing repairs, upgrades and renovations in Kingman, Arizona that partner is Retro Plumbing. Fully licensed, bonded, and insured we are the plumbing company with the right solutions.
Written by Jim Hinckley of Jim Hinckley’s America