These HVAC Upgrades Can Help Your Home Value
On average, 87% of homes across the country have central air conditioning. As a result, central air can be a deal breaker for a lot of buyers. While it does depend on the climate to establish how much buyers expect air conditioning, it’s not uncommon for buyers to eliminate homes without central A/C from their search.
So whether you’re looking to sell your home for top dollar, make it more appealing in the market, or simply want to increase the value to your home — and the comfort it provides while you live in it — adding air conditioning is a great way to increase your home’s equity. Additionally, other HVAC updates are a beneficial, and usually pretty manageable place to start increasing your home’s value.
Adding Home Equity with HVAC
Updating, or adding, central heat and air is a great place to look when it comes to HVAC. Not only do most buyers expect these features, it will give you greater control over the temperature of your home all year long. In addition, HVAC system upgrades generally have a greater return on their investment than most other kinds of home renovation — to the tune of up to 71% according to recent research by the National Association of Realtors.
If you already have central heating and air, you can make improvements to the ductwork or add energy efficiency upgrades to increase both the appeal and comfort of your home. These updates can also reduce your heating and cooling bill, so you’ll start recouping your investment almost immediately on those monthly utilities.
Smart Thermostats: An Upgrade the Increases Home Value
The addition of a smart thermostat to your home can increase its value in a number of different ways. Many of these factors can be very attractive to potential buyers. First of all, a smart thermostat can automatically change the temperature in your home and save you money on your energy bills. You can also change the temperature remotely from your phone. For more tips on how smart thermostats can increase your home’s value, read our guide here.
How Much Value Does New HVAC Add to Your Home?
Generally, adding a central air conditioning system will increase your property’s value by about 10%, though this depends heavily on existing market conditions. All else being equal, homes with air conditioning generally sell for between 2 and 3% percent more than homes without. Again, this is highly area-dependent. For example, air conditioning is more common, and more desirable, in places like the South. Comparatively, it’s often less important for buyers in regions like the Pacific Northwest.
Wherever you live, however, it’s universally more appealing for buyers to have greater control over the home’s environment. It’s worth noting as well that if your HVAC system is old or aging, this can discourage many buyers.
Ready to get started improving your home’s value with HVAC? Maybe you have more questions about what kinds of HVAC updates might be right for your home? We’re ready to help you navigate the process. Visit our resource center to find more information about everything HVAC, or call our professionals at (619) 762-3014 today.