Even if you're not currently planning on selling your home, it is always a good idea to consider its value and what you can do to increase it. Real estate experts always recommend making at least some minor changes and updates before listing a home. Still, it is important to carefully consider any upgrades you plan on making, as not all projects will pay off in the end. With that in mind, let's look at upgrading your HVAC system and how it can impact your home's value.
Comparing HVAC Upgrades to Other Home Improvements
HVAC upgrades are one thing that will generally always pay off and provide a much greater return on your investment compared to other home improvement projects. Installing a new dishwasher or stove or remodeling your bathroom aren't necessarily bad ideas and should help to boost the value of your home. The only issue with these types of upgrades is that the value they add usually won't cover the total cost of the project. Research has shown that bathroom or kitchen remodels will typically increase a home's value by somewhere around 60% of the cost of the project. On the other hand, upgrading to a new furnace or air conditioner will usually increase your home's value by at least the cost of the new unit, if not more. Heating and cooling are generally the biggest energy costs, and prospective buyers will usually be willing to spend much more if they know that the HVAC system works well and won't result in high cooling and heating costs. This is especially true if your HVAC units are more than 10 years old or if you upgrade to a much more energy-efficient unit. In this case, you could end up adding several thousand dollars to the value of your home. The fact that the new unit will be under warranty will also make your home appealing. Potential home buyers will also be drawn to the fact that their energy costs will be lower, and the home will be more energy efficient thanks to the new unit. All this being said, there are times when it doesn't really make sense to upgrade your HVAC system. For instance, if your units are only a few years old and still under warranty, then you're not likely to see much benefit. Even if you opt to upgrade to a unit with a much higher energy efficiency rating, the total increase in equity is still likely to be minimal.
HVAC Upgrades That Can Increase Home Equity and Appeal
While it doesn't always make sense to replace your furnace or air conditioner before selling a home, there are other HVAC upgrades that will generally always pay off. One of these areas concerns your HVAC ductwork. If your ducts are not fully sealed or otherwise leaking air, this is definitely something you'll want to have taken care of. Duct resealing is a fairly simple and inexpensive project that can pay huge dividends by reducing waste and making your home more energy efficient. Ductwork typically has a maximum lifespan of around 25 years. Ducts tend to degrade as they age and will usually start to experience more issues with leaking. If your ductwork is more than 15 to 20 years old or has major damage, you will definitely want to consider having it replaced if you're thinking about selling your home. If not, this issue could potentially lower your home's value by a few thousand dollars since the new owners would need to have the ducts replaced within a few years. Another thing to think about is your thermostat. While installing a Wi-Fi-enabled smart thermostat may seem like a fairly minor upgrade, it can still pay off in a major way. Not only will it improve the energy efficiency of your HVAC system, but the convenience it provides will also make your home much more appealing to prospective buyers. Another upgrade that can make a major difference is installing an HVAC zone-control system. This type of system uses metal plates or dampers inside the ductwork to split your home up into smaller zones. Each zone can be controlled independently using its own thermostat, which means that you'll no longer need to heat or cool the entire home at one time. This can result in a huge improvement in both indoor comfort and energy efficiency while also helping to eliminate problems with cold and hot spots in different parts of the building.
Cincinnati’s HVAC Experts
If you're considering replacing your old HVAC unit or making any other upgrades, you can count on the team at Wingate Heating Cooling & Plumbing. Our NATE-certified technicians specialize in HVAC installation, and we carry a range of new units from top brands like Rheem, TempStar, and Daikin. We can also help with any HVAC repairs or maintenance needs, and our team specializes in duct cleaning and indoor air quality services as well. If you need drain cleaning, sewer line repair, or any water heater services, our plumbers can help with that. They also work on toilets, sinks, sump pumps, and garbage disposals. For more information on our HVAC services, give us a call today.