Homeownership is exciting; being able to buy or build a home of your dreams is at the top of everyone’s life lists. No matter what your house is, be it a farmhouse or townhouse, there’s almost always ways of improving your home to either make it better for your living situation, or to add equity and resale value to it. You may think you’re never going to move, but a lot of different possibilities are out there, so ensuring that your home is always ready to be sold again can go a long way in the future. Read on for some tips on adding equity to your home with a HVAC installation.
Renovations Can Be Costly
If and when your home needs renovations, you always want to consider whether the renovations will make a good investment into the future. There are going to be tweaks and additions here and there that are for your benefit only, of course, but anything that you think might “spice” up the place should be thought about seriously, especially if you know you’re going to be reselling your home. You want to maintain a good Return on Investment (or ROI) for your property, meaning that anything you put into your home gives you a good, higher value for your home when selling. That’s why updating or replacing your HVAC system could mean big profits for when you resell your home.
HVAC Installation Rund Down
When thinking about upgrades to a home, most people think the aesthetics: paint, new countertops, new flooring, the list goes on. But goes the aesthetic route is what may cost you more money in the long run, as people have different tastes and may not want those renovations done before they buy. Most homebuyers, though, will be checking out the insides of your home, and if they see an older heating and cooling system, that may make or break the sale. It may seem like a big chunk of change to install a new HVAC system, but in the end you’ll be saving yourself money with an updated heating and cooling system, while dramatically increasing the ROI of your home.
What to Consider
The first step in updating your HVAC system is figuring out which kind your home needs specifically. Take into account your region, the age and size of your house, the layout of your house and your budget. Also take into account the age and operation of your current HVAC system, as it’s going to be one of the top asked questions in the home selling process. If your HVAC system is under ten years and working well, it most likely still has a few years left in it, and it would be a waste to replace it.
If your HVAC system is under ten years but having some troubles, it may be worth simply repairing it, depending on the cost of the repairs. You can do a simple math trick to see if it’s worth fixing after all: take the age of your existing HVAC system and multiply that by the cost of the repairs. If the amount is more than $5,000, it may be worth fully replacing rather than repairing the unit. And lastly, if your HVAC system is over 15 years old, it may be time to replace it.
If you’ve determined that your HVAC unit is ready to go, now is the time to start thinking about what kind of new system you’ll want. Think about the location and climate you currently live in and whether you need a full blown heating and cooling unit. You may not have to put in a heating system if you live in California, for instance, as the weather is always mild, but a heating system is essential if you’re in Illinois.
Going for an energy-efficient unit is your best bet as well, as most homeowners who installed these units saw a 5-8% higher selling value as compared to a regular model. Most homebuyers want to save as much as possible, and energy-efficient models can help, and may help you as certain states will give tax breaks on installing energy-efficient HVAC systems in their homes.
Ready to dump your old HVAC system for something new and energy-efficient? Williams & Fogg Mechanical can help! With over 40 years of experience, Williams & Fogg Mechanical can help with residential and commercial HVAC installations and can help with financing as well. Give us a call today to get your home ready!