Are you wondering how much a new HVAC system adds to the value of your home? If you are selling your home in the near future, getting a new HVAC system can be a good idea, but it is not always the most convenient move, especially if there is already a working system.
This article explains how much value a new system can add to your house. If you want to get your evaluation or more information, contact the professionals in heating and air conditioning in Spokane.
Can a new HVAC unit increase the overall value of your home?
There are advantages to getting a new HVAC system if you own your house. In general, adding a new HVAC system can increase the value of your home by 5 to 10%.
Although it is not enough to recover the money invested in getting the system, at the moment of sale, potential clients may not buy a home without air conditioning or with an old HVAC system if they need to replace it soon.
In general, houses with a new HVAC system are priced more than those without one, but the market conditions can still significantly impact the value of a house regardless. You can figure out if a new system is going to add value to the place by considering the following things:
- Is your home located in a geographical location that requires air conditioning?
- Is the current HVAC system old (over 15 years)?
- Is there anything wrong with your existing HVAC system?
If your system is too old, it is essential to consider if you want to invest in a new one just before selling the house. This is because even if the house value increases, you will not get back all the money spent to replace the old system.
How to choose an HVAC system that will add value to your home?
If you want to add value to your home by getting a new HVAC system, you have to know what to look for when shopping for one. Here are some tips that can help you choose a system that will improve your home’s value:
- Air quality
The first thing to look for in an HVAC system is the air quality that it can provide. Modern systems have elements in them, such as UV lights that can help filter air and remove more contaminants. Choosing a system that can provide superior air quality can add more value to the house in general.
- Energy efficiency
Homebuyers are attentive to energy consumption and want to reduce their energy bills as much as possible. Therefore, a very efficient HVAC system will increase the value of your home and give an additional incentive to a potential buyer.
You can determine the efficiency level of your system by using the Energy Guide labels, which provide a prediction of the product’s energy consumption and thus a way to compare its efficiency with other similar products.
- Compatibility with modern thermostats
Modern thermostats have a long series of features and benefits to offer. For example, they can be accessed from anywhere through internet access, have the capability to track habits and routines, and automatically adjust the temperature based on it.
Such capability can help homeowners save energy and prolong the HVAC system life. It is a perk that can further improve the value of your house.
- Low maintenance system
It is essential to verify the type of maintenance required by the system you want to get. A low-maintenance system with a convenient service plan would be the best choice.
- Low noises
A noisy system can be annoying and disturbing to some people. Therefore, it is better to choose a system that can be quiet or produce moderate noises.
- Choose the correct size
The HVAC system should be able to cover the entire house. A small system will be inefficient and overwork to reach the set temperature, which means that it will wear faster and have a shorter lifespan.
While a too large system is more expensive to maintain, it is an unnecessary running expense.
Last but not least, the cost of the system is directly impacting the value of the house. In general, it is enough to have a good quality HVAC system that performs well and can last between 15 to 20 years.
In addition, if you want to take maximum advantage of a new HVAC system for your house, there is the possibility of tax reduction for new installations.
Can I replace just parts of the HVAC system instead of the entire unit?
Sometimes it is just enough to replace some parts of the HVAC unit to add value to it. But, it is not always the best course of action. If the repair is costly, it is better to get a new system entirely.
To make the best decision, here are a few things to consider:
- The HVAC system’s age
- The cost of the repair
- Will the replacement of a part make the system reliable?
If the system is pretty old and the part that needs to be replaced is expensive, it is better to replace the entire system to avoid spending too much money a few weeks later on replacing other parts.
In addition, if your unit is already 20 years old, a potential home buyer would be discouraged from buying the house. However, if a part needs replacement, it is better to get a new system despite the costs.
If the repair cost is over $5.000, the HVAC system should be replaced, considering that the average price of a unit for 1.500 square feet is between $6.000 and $7000.
A new HVAC system will always add value to a house, although it is essential to know when it is the correct time to replace the old system. If you think your home needs a new system, or if you need additional information before making a final decision, contact us.