Because residents can see them, cosmetic enhancements typically take precedence over fixing or replacing aging pipes. In the short term, this seems to make financial sense to increase occupancy, rental income and property values. However, ignoring your pipes, and the subsequent impacts from water damage, can clearly cost more in the long run.
By replacing your pipes before undertaking your cosmetic upgrades, you will achieve these five benefits that positively impact your operating budget and quickly help offset the costs of a repipe:
- Decreased property damages from leaks
- Lower plumbing repair costs
- Fewer insurance claims and potentially lower premiums
- Reduced maintenance and operating costs
- Increased resident retention and improved reputation
In the end, taking proactive steps to ensure a leak free plumbing system is just as critical as curb appeal enhancements, and is required to guarantee a comfortable home for your residents.
To help you decide if you should replace your pipes before making cosmetic upgrades, please call us for a free assessment of your current piping system.