A new HVAC installation is never at the top of people’s home improvements lists. Even if the system is ancient, many will put off a replacement. Despite the energy savings from more efficient models and all the available rebates, the perception is that it will take years to recoup the cost. However, did you know that a new report indicates replacing your old HVAC system increases your home’s value?
The Remodeling Impact Report, from the National Association of Realtors and the National Association of the Remodeling Industry, lists HVAC Replacement as one of the top 10 interior projects likely to increase a home’s value at resale. Moreover, HVAC Replacement is also one of the top 10 projects with the most appeal to home buyers. This translates into being able to sell your home faster and for more money when the time comes.
The prime reasons for completing HVAC installation included:
- Improved energy efficiency,
- Upgrading worn-out surfaces and materials, and
- Better functionality and livability.
The report also showed 90 percent of real estate agents recommended sellers replace their HVAC system before placing their home on the market. Home inspectors pay close attention to the HVAC. Any small issue could delay a home sale or have buyers backing out.
The best thing is the Remodeling Impact Report showed that HVAC project with an estimated cost of $9,000 has an estimated cost recovery of $7,000. This is a cost-to-value ratio of 71 percent, one of the best of the interior projects reported.
If you would like to talk more about how HVAC installation can increase home value, or need more information, please contact us.