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How HVAC Upgrades Increase Your Equity
With Spring right around the corner, a lot of people will be taking on home improvement projects, buying homes, or selling their home. A lot of people look to cosmetic upgrades first because you can immediately see them. New cabinets, countertops, or a bathroom upgrade give you an immediate visual payoff. However, an HVAC update will be worth the investment if you are looking to sell your home and improve its value. Home inspections are increasingly recommended to home buyers. While they are touring your home, most buyers won't immediately recognize a new HVAC system. However they will likely notice an older, rusty one with aged connections. The inspector will notice even more - and always include an HVAC inspection as part of their service. A dated system will be expensive for new homeowners to replace. Oftentimes if a system is older than ten-fifteen years old they will think much longer and harder about their purchase offer. While you may be thinking that updating your HVAC will be expensive- it is an investment after all - you will be pleased to know that the National Association of Realtors has said that HVAC updates have shown a higher return on investment - at almost 71%. Upgrading to a more energy-efficient HVAC system will be more appealing to potential buyers. This will help you stand out in the available homes in your area. More energy-efficient appliances and HVAC means additional savings on home operation costs which is a bonus to buyers. If your system is still relatively new and not due for an upgrade, there are other things you can do to increase your equity and be appealing to buyers.
Insulation Improving the quality and quantity of your home insulation is a major perk to buyers and to your bottom line. It is estimated that ROI of insulation improvements is 91-112% (NAR Remodeling Report). This is a project that would be good to disclose on your listing and will be appealing to a homebuyer since upgraded insulation will help them regulate indoor temperatures and save money on energy costs.
Roof The roof serves a variety of purposes for your home - not just being the top! It's also one of the main sources of insulation and keeping energy costs down. Roofs constructed with inefficient materials are responsible for up to 25% of energy loss. Did you know that asphalt shingles have been shown to reduce surface temperatures on your roof by up to 50 degrees? Investing in your roof is a big step - but if you decide to sell later on, the NAR Remodeling Report has shown that on average you will recoup up to 105% of the cost - making it a sound investment with potential to make all and a little bit more - of your money back. Windows & Weather Stripping
Investing in all new windows is a large expense - but it definitely increases your value! However, if you aren't due for window updates or are a little bit short on remodeling budget funds, weather stripping is another update you can make that will help you see a return on your investment - from 58-80%! You can estimate how much it will be to re-do your weather stripping with this handy weather stripping cost estimation calculator.
Also - don't forget your doors! A lot of heat and efficiency can be lost due to inefficient door construction materials. To maximize efficiency, experts recommend doors made of fiberglass, steel, or vinyl. HVAC Upgrades
If you've already tackled a lot of these above-mentioned upgrades or don't think they're necessary, we have some more recommendations for you! A lot of homeowners are making upgrades to their HVAC equipment that will help them save money or give them better control over comfort in their home. Two of the most popular HVAC system additions are new thermostats and dehumidifiers. There are four main types of thermostats, with many opting for new wi-fi or smart thermostats. These models give you the most control over your energy efficiency, saving money, and comfort. A lot of homeowners also enjoy a whole-home dehumidifier. This helps you control moisture levels and also have a big impact on indoor air quality. Air that is held at proper levels of humidity helps to lessen the transmission of airborne bacteria and viruses. Last but not least, one of our most popular additions to HVAC equipment is a whole-home air purifier. There are multiple options available, and we'd be happy to discuss them with you. Check out our information page on indoor air quality for all the details! **Updated Jan 2021