How Your HVAC System Affects Your Home’s Resale Value
If you’re thinking about listing your home for sale, it’s important to make sure that everything is in good working order. Prospective buyers won’t want a huge expense shortly after moving into the house. When everything is in good to excellent condition, you’ll benefit in many ways. Read on to learn about six ways your heating, ventilation and air conditioning system affects your home’s resale value.
1. Confidence That Your Home Is in Good Condition
Regular maintenance of your heating and cooling system demonstrates that you do a good job at taking care of your house. It’s a good idea to have a list of all maintenance visits for the past few years. Not only does preventive maintenance keep the heating and cooling system in good condition, but it also forestalls a premature failure of the system that the next owner might have to handle.
2. Higher Initial Offers on Your Home
If your heating and cooling system is new or just a couple of years old, your home will have a higher resale value than if the furnace is 25 years old and you haven’t replaced the air conditioner for 15 years. If you know the heating or cooling system is nearing the end of its useful lifespan and you’ve been having problems with it, you may not recoup all of your costs on replacing it. However, you will get higher initial offers on your home, which could lead to a bidding contest among buyers and produce better overall offers.
3. More Interest From Prospective Buyers
When prospective buyers are perusing online listings of homes for sale, they will take a look at the features. In the short descriptions, real estate agents typically list what sets a home apart from other houses for sale. If your listing includes new heating and cooling equipment, this will attract more interest from people wanting to purchase. They’ll know that the home will be comfortable from the moment they move into it. Most manufacturers offer transferrable warranties, so the new homeowners will benefit from that protection.
4. Fewer Requests for Remedies
Once you accept an offer from a buyer, the completion of the transaction usually has several contingencies. Those typically include funding, inspections and appraisal. If the home’s heating or cooling system is old or in need of repairs, you can count on the buyers asking you to fix it. If you’re selling your home during a busy time of the year, it might take a while to get repairs done or have a replacement heating or cooling system installed. Handling this issue before listing your home for sale could mean fewer requests for repairs.
5. Faster Real Estate Transaction Closing Time
If your heating or air conditioning system is in need of repairs, it could delay closing the sale of your home. This is also true if you’re waiting on replacement equipment to be installed. Some manufacturers may not have your HVAC equipment in stock, for example. If your home requires special equipment or you have a specific make or model in mind, it’s better to plan ahead. Have the equipment serviced or replaced before you list your home for sale. Doing this means one less possible problem at the time of closing.
6. Increased Appeal of an Energy-Efficient Home
Another way a new or well-maintained heating and cooling system boosts your home’s resale value is by making it more energy-efficient. Many homebuyers are concerned about how high their utility bills will be. New heating and cooling systems with ENERGY STAR certification will result in low heating and cooling costs. Cash flow is especially important to new homeowners who need to buy furniture, appliances and other costly items. Homebuyers may also be concerned about their carbon footprint. An efficient heating and cooling system with a variable-speed motor, comfort zoning and energy recovery ventilator means less fossil fuel needs to be burned in order to maintain an ideal level of indoor comfort.
If you’re interested in replacing your home comfort equipment, discuss the prospect with us at BELOMAN. We’ve been providing people throughout Belleville and the surrounding communities with reliable installation, maintenance and repair of heating and cooling equipment for 60 years. Homeowners also count on us for plumbing, architectural metal, pest control and indoor air quality services. To learn more about the ways your heating and air conditioning system affects your home’s resale value or to schedule any of our affordable services, contact us today.