Real estate is a tricky industry. Two homes that look exactly the same can have a stark difference in the selling price depending on their features and fixtures. If you have plans of selling your home and moving to a new neighborhood sometime in the next year, maybe it’s time to upgrade some systems first.
Take your home’s furnace or HVAC system for example. A well-maintained system can run smoothly for over 10 years. This is a reasonable life span. But if you plan to sell your home soon, prospective buyers might hesitate to seal the deal when they hear just how old your heating and cooling system is. They don’t want the burden of needing to fix it as soon as they move in.
Consider replacing your existing HVAC system to increase your property value. The overall cost might not be small but you might just get a high ROI when you sell the home.
Out with the Old, In with the New
Energy efficiency plays a major role in many people’s home buying decision. People looking for a new home are increasingly interested in the environmental friendliness of a property’s heating and cooling system, lighting, and other appliances that use energy. By getting into the trend of energy-efficient HVAC systems, you’re making your property more appealing to potential homebuyers.
There’s more to it than replacing an old HVAC system with something new, though.
It’s only natural for you to think about the increase in your property’s resale value when considering an HVAC replacement. But switching to a new system with higher efficiency has more benefits than that.
- An energy-efficient HVAC system uses less energy and reduces the cost of utility bills.
- Newer HVAC models are quiet and have a better airflow, resulting in greater comfort.
- Modern HVAC models intuitively adjust to the temperature and can be controlled via smartphone.
Attract More Potential Buyers
There’s nothing wrong with selling a home that has an old, well-maintained HVAC system. You could get a licensed professional to inspect the system, then present the results to potential home buyers. But you could make your house even more attractive to potential buyers if you have an updated HVAC system. ;
This is an attractive option for homebuyers. And as a result, you might be able to sell the property faster.
A newer and more energy-efficient HVAC system isn’t attractive to only the potential buyers, though. A qualified appraiser will take note of the heating and cooling system when determining the overall value of your property. By replacing a decade-old HVAC system, you can expect a higher home appraisal value.
The higher the appraised value of your property is, the higher its market value will be. So even if a new HVAC system doesn’t come cheap, you will definitely experience high ROI from it.
Start from the Inside Out
It makes sense to paint the walls, replace the wallpaper, change the lighting, and address other interior design concerns when you’re selling your home. You’ll want to fix the fence and the landscaping, too.
Before all these, however, you have to check on the basic utility systems. That includes your heating and cooling systems along with the plumbing system, water lines, electrical lines, and other basic utilities. ;
Make basic utilities the first on your home renovation list when you’re getting ready to sell your property. Fix faulty systems or replace them with energy-efficient alternatives. Your potential buyer wants to know that their utility bills wouldn’t take a toll on their monthly budget. After you’ve addressed the basics, that’s when you start fixing the interior design and the landscape.