As one of the most significant investments in your life, you look forward to building up equity and ensuring that your home’s value is maintained or increased over time.
The rate at which your home value will increase depends on various factors, including location and demand. However, you can influence your home’s value by making changes and upgrades that improve its appeal and functionality and obtain a higher selling price.
A water storage tank is a promising upgrade for most Australian homes that can significantly increase your home value. But how exactly does a water tank installation make your home more appealing? Let’s find out.
What Is A Water Storage Tank?
Water storage tanks are self-explanatory. It’s just a specialized, large tank container for water storage. Depending on its setup, a water storage tank may collect rainwater or water from an underground well. It comes in various colors, sizes, shapes, configurations, and integration.
It can be as simple as a tank connected to roof pipes for collecting rainwater or an underground, pressure-filled tank that pumps and filter water from a well. Tanks are often sold and installed by specialty companies like this manufacturer, especially the bigger ones or those with complex configurations.
Depending on its configuration, a water storage tank can have a range of applications, including outdoor irrigation, flushing the toilet, washing your clothes, and cooking and drinking (provided that the system comes with a filtration process).
Talking with a water tank expert can help you find the suitable tank material, size, and specs to fit your specific water requirements and intended use.
Does It Increase Your Home Value?
Yes, adding a water storage tank to your property can increase its value. This is because a water storage tank offers numerous benefits and increases your property’s functionality, making your home more appealing and desirable to potential buyers.
However, each property is different, and the increase in your home value will depend on various factors, including:
- Water tank size
- Water tank age
- Home location
- Tank configuration (generally, a water tank that provides you with safe drinking water tends to have a higher value)
Consult a water tank expert to determine which can provide the most home value but still fit your budget.
3 Ways A Water Storage Tank Increases Home Value
In this section, you’ll learn some of the benefits of a water storage tank which can make it more attractive and functional.
Reduce Your Water Bill
As the cost-of-living increases, a home with minimal or zero water bills becomes highly desirable. And depending on the type of water storage tank you install; you can minimize or eliminate your monthly water bills.
Generally, water storage tanks collect free water from the sky or an underground well. So, instead of buying your water from your local municipality, you can use these accessible water sources for your daily needs.
Although a water tank may be expensive upfront, especially if equipped with its own filtration system, it will pay itself in the long run.
Enjoy An Uninterrupted Water Supply
Australia is generally a hot and dry country. Between its harsh climate and growing population, Australia is on the brink of a water crisis. This causes the local government to enforce water restrictions, limiting water availability in terms of volume and when it can be used.
That said, Australia isn’t the only country experiencing water shortages. Even some parts of the US, particularly dry states such as California, Nevada, and Arizona, are now implementing water restrictions to alleviate demand.
However, you don’t have to worry about these restrictions with a water storage tank. Depending on your tank’s size, configuration, and water usage, you can have an uninterrupted water supply to accommodate your family’s needs.
Make Your Home Sustainable
As people become more aware of their carbon footprint, sustainable upgrades can make your home look more appealing to buyers.
As a limited resource, water protection helps reduce your negative impact on Mother Earth. It helps reduce water demand from your municipality. Since it allows you to use freely available water, you can do your part in conserving water and preventing wastage.
Water is a basic necessity in life. Adding a water tank can ensure your home has an uninterrupted supply of these precious resources and support your family’s water needs.
Whether you’re considering selling your home in the next few years or want to increase home equity, adding a water tank can increase its functionality and appeal, boosting its overall value and maximizing your return on investment.