Repiping increase the value of the house?
I'm in the middle of a house flip and I need your help BP!
I bought a house with galvanized pipes and I'm in the process of getting plumbing quotes. They are all telling me that I need a re-pipe from the city supply to my house. Completely abandon the old pipes. I'm getting quotes mostly around the $5k-$6k range and I'm wondering what to do. They're really pushing me to re-pipe everything but that's way over the plumbing budget. The water fixtures only Includes 2 sinks, toilet, & shower.
I was also thinking about doing some of the work myself but would an inspector chew me up on that? I also want to make sure my house is insurable under FHA standards since that's the market I'm targeting.
Last question is, does spending $6k on a total re-pipe recoup some costs on the sell side of things? What's the ROI look like?
Thank you everyone!