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Real Estate Agents questions, answered by experts

A fireplace can increase a home's value by as much as 12%, with some reports indicating that homes with fireplaces list for around 13% more than the median sale price. Fireplaces are both functional and aesthetically pleasing, adding a charm that many homebuyers find desirable. The actual return on investment depends on the fireplace's size, type, and material.

However, a fireplace can detract from a property's value if it is unusable, not up to code, or in need of immediate repairs. The type of fireplace also matters; custom electric fireplaces and inserts can add value, while freestanding units that can be removed have less impact.

Repiping a house is a worthy investment in several scenarios. Key indicators that it's time to repipe include having pipes that are over 50 years old, experiencing frequent leaks and repairs, or noticing signs of corrosion and low water quality. It is especially important to replace pipes made from certain materials; lead pipes can cause serious health issues, galvanized steel can lead to rusty water, and polybutylene pipes can leach chemicals into your water supply.

Investing in new plumbing can prevent costly problems like water damage and mold growth. New pipes can last anywhere from 50 to 100 years, saving you money on future repairs and high water bills. Repiping can also increase your home's overall value and improve efficiency, for example, by using PEX pipes for lines that don't carry hot water. The cost to repipe a house typically ranges from $1,500 to $15,000.

Yes, Colonial homes are generally a good investment. Most home buyers who are interested in this style love its simple yet functional interior and charming exterior. Plus, if you keep up with its maintenance, some homebuyers are more willing to purchase a traditional home without the common issues found in older homes.

Factors considered in a property appraisal include its size, location, and overall condition, as well as recent comparable sales (comparables) and current market trends.

In short, yes, a pond can add to your home’s value. However, whether it adds value will depend on the condition and aesthetic of your pond. Having this feature already built into a yard’s home can be appealing to homebuyers who value its aesthetic and would prefer not to build it themselves. But if it is not kept in good condition, it could turn buyers away.

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