Plumbing System Question for Home in Newbury Park (hardwood floor, how much)

[AAVC]

We had a recent accident when a water pipe behind the laundry room wall burst and made a mess. Most of the hardwood floor in the family room had to be removed due to water damage, as well as part of the dry wall. As we are looking to replace the floor and make it look good again, we can't help but wonder if we need to replace the entire plumbing system in the home, to avoid these types of accidents again.

The home was build in 1979 as part of the Oakridge Estates in Newbury Park. Current plumbing system is of copper. Questions:

1. Any views on when a home's plumbing system should be replaced? What is the typical life cycle of a plumbing system from that era?

2. If so, what are the options for types of plumbing systems for us to consider, and what are pros and cons for each?

3. How much does it typically cost to do so?

Thank you very much