Question submitted by: Abigail Bailey South Riding, Virginia
"Can upgraded plumbing increase my home value?"
This is a great question! In this market, it's imperative for those who are considering selling their homes to make all the necessary upgrades possible. For some that's a fresh coat of paint, for others, a kitchen renovation. If you've heard that upgrading your plumbing can help increase your home's value, you just might be on to something!
Not all home improvements actually increase your home's value. Value is often determined by factors like the home's current value, comparable homes in the area and the real estate market itself. However, improvements that increase functionality will most certainly cause the value to climb! This is good for those of you in the Northern Virginia, DC. and Maryland area who had, or are considering having, your plumbing inspected and upgraded!
In order to qualify as functional improvement, these plumbing upgrades should be done to market requirements, not personal preferences. For example, improving the plumbing to meet the city code or insurance requirements for your home to prevent flooding are functional improvements, adding a jacuzzi or updated faucets, although appealing to the buyer, may not actually increase value.
Focus on return investment when considering home improvements. Aiming for 100% return means you will make the money back in full, not necessarily profit from it when the home is sold. If you make too many cosmetic changes, there is a chance that you may not be compensated with value. Of course, if it's something you have the means to do, it can certainly help sell the home faster.
If you simply want to put value on your home but aren't intending to sell anytime soon, have one of F.H. Furr's trained and certified plumbers come out to your home for free*! They'll take a look at your plumbing system and give you advice and options on steps you can take to be sure it's in top shape to handle the years ahead!