Planning to move or relocate in just a few years? Is it worth upgrading your HVAC now before you sell?
According to the National Association of Realtors, homeowners spend ten years, on average, in a home before it’s time to move on.
For homeowners planning a remodeling project, it becomes a careful balance of upgrading the space while maximizing ROI. What are the best projects to take on that will help boost your home equity, and give you more bang for your buck?
Realtors will tell you curb appeal is everything. If a buyer doesn’t want to walk through the front door, it’s hard to motivate them with other incentives.
Buyers love gourmet kitchens. They want to walk in, and “see” themselves living there.
Yet surface upgrades will only get you so far. Once a buyer sees the potential, they start looking deeper at the bones of the home. Are the systems fully operational? Because major systems problems can be costly endeavors.
Enter HVAC upgrades. While homebuyers might not walk through the front door looking for new HVAC equipment, if they find out later it’s old and in need of repair, it can be the deciding factor between your house and another.
The National Association of Realtors states that an HVAC upgrade holds 71 percent of its value compared to other home improvement projects.
Upgrade your HVAC early, and you reap the rewards before you sell. As an added bonus, it may be the tick of the box you need to have a homebuyer say “yes” to your home.
So how do you know if upgrading your HVAC equipment is in your best interest? Start with a few questions.
Does your HVAC equipment still work well?
HVAC systems can last anywhere from 15 to 30 years. Start by referring to your owner’s manual. How long does your system’s manufacturer state the equipment will last? An upgrade may be beneficial if you’re within a few years of its lifespan.
How many repairs have you made?
If you’ve put a lot of work into your current system, it might be worth waiting if it’s improved its lifespan. Talk with a technician when they perform their yearly maintenance. What condition is the equipment in? How well is it operating? While you don’t want to make expensive repairs before replacing the system, getting your money’s worth out of the work you’ve recently performed is important.
How efficient is your current equipment?
The older an HVAC system is, the fewer efficiency items it has in place. If your system is on the lower end, upgrading now may benefit you even in the short run. It might make your home more comfortable, and show up as reduced costs on your utility bills each month.
Is now the right time to upgrade your HVAC equipment?