For many Phoenix homeowners, plumbing repair projects might not have seemed like a good investment for the past few years.
As home values in Phoenix, and in all of Arizona, plummeted starting in 2008 through about mid- 2011, home improvements of all types were set aside.
But now that values are on the rise (read what one realtor has to say: Phoenix home prices up), more and more homeowners are once again willing to invest in their homes. Especially homeowners who are considering putting their homes on the market for sale.
If that’s you, and you’re ready to take care of that plumbing repair you’ve been putting off, or maybe you’re considering a major renovation that will add value to your home, we thought you might be interested in knowing what you might expect as a return on your investment.
First, when it comes to plumbing repairs, having those done is usually non-negotiable.
Drippy faucets, slow drains, leaks at supply lines, disposal problems, water heaters that don’t (heat the water, that is) etc. could be a deal killer when you’re trying to sell your home. The Phoenix real estate market is returning to a more balanced condition (supply has increased) and buyers are finding more homes to choose from, giving them a bit more leverage when it comes to negotiating not only price but things like repairs they expect to have made. So our recommendation is that you give us a call and let us do a plumbing inspection of your home before you put it on the market. And have those plumbing repairs taken care of. Don’t let the home inspector find pages of needed repairs. Being proactive, having those plumbing repairs (and electrical, and ac repairs, etc.) done before you list your home will make the selling experience go more smoothly for all concerned (seriously – your realtor will thank you!).
As for other types of improvements, the general consensus is that most major kitchen and bathroom renovations will not return 100% of your investment.
You might expect to get from 62-66% return, on average. So where possible, giving the room a facelift, rather than a major overhaul, might make more economic sense. Adam Taffel, a real estate broker with Centre Realty Group in Newton, Mass. believes “in many cases, less-drastic updates like refinishing surfaces, upgrading appliances, and installing new light fixtures will cut it.” (1)
We find many of our customers choose to replace sinks, toilets, faucets and lighting in bathrooms along with a fresh coat of paint and new accessories – giving the bathroom a fresh, updated look without a major investment.
Kitchens are a little harder – just replacing the sink and faucet, or even adding lighting, might not be enough to give that dated kitchen the new look buyers want. You may need to consider at least refacing the cabinets and perhaps new countertops as well. But, keep in mind “making the mistake of opting for a facelift when the space does, in fact, need a full-scale remodel will cost you. ‘You need to ask yourself questions like, ‘Are the cabinets structurally sound enough that if I spend a significant amount of money refacing them, are they going to just fall apart anyway?’ says Darius Baker, a contractor with D&J Kitchen & Baths, Inc. in Sacramento, Calif.” (1)
But whether your need is a fairly simple plumbing repair or a full-scale kitchen or bath remodel, we can help. And we’re happy to tell you your plumbing repair and other home improvement projects are definitely worth the investment in your home! Good news for all!
Questions? Give us a call! An experienced plumber is always available during business hours to answer your questions. No cost. No obligation.
Stevens Plumbing Heating & Air Conditioning