Thinking about Selling Your Home? What You Need to Know
Are you thinking about selling your home? If so, is the condition of your HVAC system helping or hurting your chance of a sale? If it is in need of a repair or even replacement, what should you do? To determine your best course of action, here’s what you need to know about your HVAC system before listing your home for resale.
When you’re selling your home, it’s important to think through and make wise decisions before spending money on any renovations or upgrades to the home. You want to get the most bang for your buck!
When it comes to your HVAC system, if any components (thermostat, air conditioner, furnace and their related parts) are reaching the end of their life, you could consider updating the necessary components to maintain your family’s comfort level while still living in the home, keep energy bills in order and maintain the value of the home when selling.
The best way to determine the condition of your HVAC system is to schedule a maintenance appointment. When the HVAC professional cleans and inspects your system, he or she can inform you about your system’s condition and the expected lifespan of the components. Then you can make an informed decision about repairing or replacing anything before you sell your home.
Upgrades made to your home have various outcomes on the home’s value. Some upgrades increase the value of the home by the full amount of the upgrade cost. Others increase the home’s value by a portion of the amount spent to upgrade while others are simply maintenance type of upgrades.
Let’s look at installing a new furnace, for example. The average cost of a new furnace can be anywhere between $2,500 to $6,000 installed. Most buyers looking for a new home simply expect to find the furnace in good and safe working order. If your home is inspected and the furnace is advanced in age, a recommendation to replace it will likely be noted in the inspection report. Not replacing it could prevent some buyers from making an offer on your house or they may ask you to lower your asking price.
Something else to consider is the type of buyer. If your home has been renovated and features many improvements but the HVAC system is old, it will stick out to a potential buyer more because your home is one needing work vs. one move-in ready. However, if your home is a fixer-upper and needs work in several areas, then an old HVAC system won’t be as much of a concern to buyers looking to make a lot of changes.
Even though updating the HVAC system may or may not significantly increase your home’s value, it has several benefits. If a buyer is looking a similar home with a new system, they could easily choose the other house. Eliminating it as a factor. It makes your home as attractive as possible to buyers as well as helps lower your energy bills while you’re still living there. Some homeowners decide to replace their HVAC system a few years before they plan to sell, so they can take advantage of having the new system for a while and then when the time comes to sell, the home still has a relatively new system for the next owners. You could also take advantage of federal tax credits and rebates as well as rebates offered by utility companies and manufacturers.
There are many areas to think through and decisions to make when selling your home, and your HVAC system is an important one. Keith Air Conditioning can inspect your HVAC system and give a professional assessment on its current condition and the expected lifespan of the components, so you can make an informed decision about repairing or replacing it before you sell your home. Contact us at 251-517-4437 to discuss your questions and schedule an HVAC maintenance appointment.