Most real estate professionals will tell you that your HVAC system is a crucial component that directly contributes to the overall value of your home. This is why a professional HVAC company also cares about adding value to the property they are working on.
Why You Should Consider Replacing Your HVAC System
There are many scenarios where replacing your old HVAC system becomes a necessity. One of the main reasons is the system becoming old and outdated. Older systems tend to malfunction more, and they get increasingly harder to repair as the years go by. Parts become unavailable, and energy efficiency goes down.
At this point, a simple cost-benefit analysis will show you that investing in a new HVAC system will actually save you money in the long run. This is because you actually lose money by trying to prop up the old boy whenever it breaks down. It's time for the old boiler and AC units to retire and make way for a more efficient system.
It Uses an Obsolete Coolant
This is one of the primary reasons for upgrading. As of January 2020, the R22 coolant is deemed obsolete, which will cause prices to skyrocket. Therefore, it is important to consider upgrading.
If your HVAC unit was installed before 2010, there is a high possibility that it is using R22. The new standard is R410a, which is chlorine. This refrigerant is more eco-friendly, and it will not deplete the Ozone layer.
So if you are planning to sell the house, now is an excellent time to consider upgrading. If your old HVAC system runs on R22, that will be a detractor when you are trying to sell.
It Doesn't Function Properly
No one wants to buy a home where the HVAC system doesn't function properly. In their minds, they will add the cost to the cost of purchasing the house. Even if you lower the price, it will still create a psychological effect and make it difficult to sell the house.
On the other hand, buyers are likely to pay extra for a house that has a newly installed HVAC system. To the buyer, that is a significant advantage. Not only will they be buying a comfortable home with a sound HVAC system, but they will also be able to go without significant HVAC issues for years if they use it properly.
Poorly Maintained System
A poorly maintained system will inevitably break down. It will also show up on an inspection when a house is being considered for purchase. It is not just about the cooling or heating units but also the ducts and pumps that work tirelessly to maintain a comfortable atmosphere inside the house.
So if you have neglected your HVAC system for a long time and it is starting to show signs of giving up, now is an excellent time to consider replacing the system. You will most likely save money in the long run, especially if you plan to sell the house soon.
It will save you or the future owner the hassle and cost of expressive repairs or emergency replacement. It always pays to think of the oolong term when deciding about such investments.
How Much Value A New HVAC System Can Add to Your Home
For those looking to improve home value for the properties they currently own, this is one of the best ways to do it. A new HVAC system doesn't only make a home feel better and more attractive to potential buyers. It actually adds to the overall value of your property.
Those buying a home will pay up to 10% more for a home that has been recently equipped with a new HVAC system. The reasons for this are simple.
A new HVAC system means one less thing to consider when settling into a new house. It leads to lower utility bills. Real estate agents are always quick to mention this fact to keen buyers because it is a significant selling point.
So if you are planning to sell your house, this is worth considering. Replacing an HVAC system in a home that is about to go on the market is a smart move from the investment point of view.
HVAC systems costs tend to go up as the system begins to age. It needs more maintenance, and it needs more inputs in general. Utility bills tend to go up, which adds to the house's overall upkeep.
It also lowers the comfort factor of the house. If an HVAC system is malfunctioning, it is one of the most uncomfortable things a modern family can face. These things can lead to a drastic reduction in buyer interest when you are planning to sell.