Home improvement projects aren’t always planned, and some of the most expensive catch us off guard. Plumbing repairs may not be as exciting as a kitchen or bath remodel, but they’re vital to keeping your home running smoothly.
In times of economic uncertainty, we tend to delay large purchases, but investing in your home’s infrastructure (especially the plumbing) can be a smart move. Updating your plumbing system offers peace of mind, long-term savings, and even boosts your home’s resale value.
When you upgrade your home’s plumbing, you’re not just making it safer, you’re also making it more attractive to future buyers.
The Benefits of Plumbing Upgrades
Modernizing your plumbing system comes with several benefits:
· Lower utility bills
· Fewer maintenance issues
· Improved water pressure
· Enhanced functionality
· A stronger home inspection report
· Higher ROI and marketability when selling
Buyers are willing to pay more for comfort and convenience. An upgraded plumbing system can result in a higher appraised value, allowing you to list your home at a higher price, and potentially sell it faster.
But because plumbing is often out of sight, it’s also out of mind. That is, until something goes wrong. Here are a few major plumbing projects that might be necessary to maintain your home’s value and functionality, especially if you plan to sell.
Major Plumbing Projects That Might Require Financing
Pipe Replacement
If your home was built before 1975, it likely has cast iron sewer pipes. While durable, cast iron corrodes over time, leading to blockages and leaks. Worse, these leaks can contaminate soil and water with trace metals like lead or arsenic.
Replacing old pipes with modern PEX or copper can improve water quality, reduce environmental risks, and help avoid costly damage.
Sewer Lateral Replacement
The sewer lateral is the pipe that runs from your home’s plumbing all the way to the city sewer main. Tree roots, shifting soil, or age can cause cracks or clogs. If the issue is outside your property line, your city may assist with the expense of hiring a plumber to repair or replace the sewer pipe. But it’s important to act quickly to prevent backups.
Basement Dig Ups
Old or damaged pipes beneath your foundation may require a dig-up to replace sewer lines or building drains. Though this can be disruptive, addressing the issues early prevents foundation damage and long-term plumbing headaches. If you notice recurring sewer problems, scheduling a camera drain inspection will show you and your plumber exactly what and where the problem lies, and provide you with options for remedying it.
Water Heater Replacement
The typical lifespan of a water heater is 10-12 years. If yours needs to be replaced, there are four important factors to consider:
· Purchase cost
· Installation fees
· Operating cost
· Size and household usage
Plumbing Project Payment Options to Consider
Plumbing upgrades are smart investments, but they can also be costly. Whether you don’t have the full amount on hand or prefer not to tie up liquid cash in a large expense, here are a few financing options that can make these improvements more manageable.
Home Equity Loan
A Home Equity Loan lets you borrow against your home’s value without refinancing your mortgage.
Pros:
- Great for large projects if you have built-up equity
- Interest may be tax-deductible when used for home improvements
Cons:
- Your home serves as collateral, so missed payments could lead to foreclosure
- Closing costs may apply
- Reduces available home equity for future borrowing
HELOC (Home Equity Line of Credit)
A HELOC functions like a credit card in that you borrow from a pre-approved limit and only pay interest on the amount used.
Pros:
- Flexible borrowing with low or no closing costs
- Interest-only payments during the draw period
Cons:
- Variable interest rates can rise over time
- Your home is at risk if you can’t repay
- Still reduces overall equity
Installment Loan
Installment loans, like auto and personal loans, cover a repayment period from as little as six months all the way up to 30 years (mortgages). Interest rates are fixed and determined by your credit score and debt repayment history. Maplewood Plumbing offers installment loans for plumbing services through FTO Finance. Apply for an installment loan here.
Pros:
- Flexible terms
- Low interest rates
- No prepayment penalties
Cons
- Interest is paid monthly
- Credit can take a hit if payments are late or missed
- Potential to borrow more than is needed.
Credit Card
If you have a credit card with a favorable interest rate or rewards program, it can be useful for smaller plumbing projects.
Pros:
- Easy and fast access to funds
- No need for collateral
- Potential to earn rewards or cash back
Cons:
- High interest rates if not paid off quickly
- Can impact your credit score
- May include fees for cash advances or late payments
Personal Loan
Personal loans are unsecured, meaning you don’t risk your home as collateral. These can be a good option if you prefer fixed payments and terms.
Pros:
- Fixed monthly payments for easier budgeting
- No collateral required
- Faster approval process
Cons:
- Interest rates may be higher than secured loans
- Approval depends on credit score and income
Talk to your lender to understand which plumbing project payment options are best for your financial goals and timeline.
No matter which financing option you choose, always work with a trusted, licensed plumbing company to ensure the job is done right. A well-executed plumbing upgrade protects your investment and increases the value, safety, and comfort of your home for years to come.
Some projects are not meant to be DIY, and choosing the right plumbing company is important. You want to hire a plumber you can trust with experience handling major plumbing projects.
Water You Waiting For?
Since 1985, Maplewood Plumbing and Sewer has been the go-to plumbing company in St. Louis. But don’t just take our word for it! Ask any of our loyal customers. They’ve been with us for decades, and they’ll tell you they wouldn’t dream of going anywhere else for their plumbing needs.
Contact us today at 314-645-6350 or schedule online.
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