HVAC System Upgrades That Increase Property Value
Our region has experienced several weather-related disasters and homeowners are repairing/remodeling homes at an astounding rate. When rehabbing existing homes, upgrades are generally the norm, but choosing HVAC System Upgrades that increase property value is a little tricky.
Most “upgrades” should be made for your convenience and taste since the new kitchen design you agonize over may be the first remodel project for the new buyer. So, add a new mudroom if it adds value to YOU, but the money you spend might not be recouped when you sell.
Upgrading Your HVAC is different.
According to a report by the National Association of Realtors, upgrades to your HVAC system could increase your home’s resale value by 10-15%. That’s significant. The National Association of Home Builders (NAHB) released a study titled What Home Buyers Really Want.
“First and foremost, energy-efficiency. . .. Nine out of ten buyers would rather buy a home with energy-efficient features and permanently lower utility bills than one without those features that cost 2% to 3% less.”
When making upgrades, consult the Environmental Protection Agency’s (EPA) Energy Star Certification program (energystar.gov). Building science can be applied to consumer decisions, resulting in homes and apartments that are efficient, environmentally friendly, comfortable, and cost-effective.
Energy Star-certified homes are 10 to 20% more energy efficient than the average home and prospective buyers consider the Energy Star rating of a home “an essential/must-have” or “very desirable.” Examples of energy-saving tips include:
- Installing double or triple-paned, Low-E (missive) windows. Normal glass readily transfers heat, while Low-E windows create layers of insulation between window panes to reduce heat transfer. The majority of home buyers recognize the value of Energy Star rated windows and consider them an added benefit.
- If your HVAC system is more than 15 years old, an upgrade will make your home more energy-efficient, comfortable and provide you with healthier indoor air. Your system may rely on coolants, such as Freon, that are no longer produced and have limited availability. New technologies, such as heat pumps, may radically reduce costs.When this region experiences weather extremes, energy-efficient HVAC systems provide comfort and security. While customers may not even notice that your system is new, they’ll certainly note if it is broken or worn out.
- Even simple HVAC upgrades, such as programmable or Smart thermostats, make an impact. If you currently have a dial-faced thermostat, replacing it with a new model will definitely improve efficiency. But programming heating and cooling to your family’s schedule will be a major convenience to you and a future buyer.Smart thermostats can also be programmed using a phone app, for sudden changes in your schedule. Thermostat upgrades are inexpensive, easily installed and the payback is months, not years.
While new tile around the pool or a barn door entrance to the den might seem like upgrades with profit potential, do it for your family. Invest in your HVAC system to add resale value to your home.
Have Questions About HVAC System Upgrades?
Adding HVAC system upgrades to your home can significantly increase the value of your home. Not sure where to start with your HVAC system upgrades? Northwind Air Conditioning and Heat can help you with your HVAC system upgrades contact us and get the answers you need.