Most homeowners lack the time and funds to make all of their home upgrades at one time. As such, they often take a selective approach, working away at things that make the most sense as they arise. When making strategic home upgrades, choosing projects that add value to the home is a great plan.
Plumbing is one of the core structures in a home and makes a significant impact on its overall value. Here are five plumbing upgrades you can make to increase your home’s value and improve your return on investment if you decide to sell.
Install Low-Flow Toilets and Faucets
If you haven’t already swapped out your old toilets and faucets with low-flow models, you’re long overdue. Many older homes lack the sophisticated technology that uses less water to do the same job. Not only will this upgrade make your home more appealing to buyers visually, but the change will be reflected in your utility bills. Prospective buyers typically review utility bills to get a better sense of the overall cost of a home. The lower the costs you can present, the better.
This project is one of the few home upgrades that will pay for itself while you’re still living in the home. Low-flow toilets use half the water to flush when compared to an older model. This simple change can save you hundreds per year in water bills.
Install a Tankless Water Heater
While tankless heaters are still a burgeoning trend, it won’t be long before potential buyers expect to see them. According to Kellie Plumbing, upgrading to a tankless water heater is one of the most popular requests from homeowners this year.
Tankless water heaters, sometimes called on-demand heaters, are another upgrade that pays for itself in utility savings. A traditional water heater works continuously to keep the stored water warm and readily available. This means your water tank is using energy to maintain the temperature whether you’re using the hot water or not.
An on-demand water heater is a small, wall-mounted panel through which your pipes run. When you turn on the tap, water runs through the heater and gets hot immediately before going through your taps. With this device, you’re only paying to heat the water you’re using.
Add a Second Bathroom
Adding a second full bathroom can increase your home’s value by up to 5.7%, while adding a half bath could result in a 2.9% increase. This upgrade could be the difference between selling or staying on the market for longer, especially if you have multiple floors in your home.
According to HomeGuide, the average cost to add a bathroom to an existing space is $7,600. So, if your home is worth $250,000, adding a full bathroom would yield a return on investment of 188%, while a half bath would still yield a strong ROI of 95%.
Install a Smart Water Detector
Smart water systems are a revolutionary innovation that could protect your home from incurring thousands of dollars in damage. Having this in place is also a great selling feature, adding a sense of security for potential buyers.
These affordable systems monitor your pipes and alert you to changes in pressure or temperature that indicate a leak or frozen pipe. This alert will help you get ahead of a serious issue before it causes damage while also saving on plumbing by narrowing down the cause.
Add Luxury Features
With people spending more time at home, they want to feel as though they have everything they could ever want. The bathroom is the perfect place to add a touch of luxury.
Consider adding a steam shower or low-flow rainfall showerhead. You can also upgrade your shower faucets to show the temperature and store preferred settings. Finally, bring it all together with a built-in, water-powered towel warmer.
These simple upgrades will appeal to prospective buyers, increase the value of your house, and allow you to enjoy your home in comfort and style.