Many factors determine property value. When selling your home, it’s ideal to know what impacts the overall value, and how you can raise it. The presence of HVAC units can affect your home’s value, but they may not always be the bonus you think they are. Here’s how you can ensure your unit gives your property value a boost.
HVAC Systems’ Affect on Home Value
HVAC systems can impact the value of your home and even affect the speed at which you sell your home. From buyer interest to selling price, air conditioning units appeal to homebuyers for a variety of reasons.
Better Home Tours
If your home is being toured during the hot spring or summer months, then having an HVAC unit will make your home more appealing. Potential buyers can tour your home in comfort and tend to show more interest in a home they feel comfortable in.
This is also the time for potential buyers to ask more questions about the home. If they learn your unit is new, the tour will go over better. Utilities such as these are always bonuses to buyers, and it’s best to mention if your system is new, early on in the tour.
Heightened Buyer Interest
When a buyer learns that your home has an air conditioner unit, they’ll be more interested in the property. They’ll be even more interested if your unit is green, smart or energy-efficient, as these factors can affect utility bills. Buyers will be assured knowing the system can immediately go to work once they move in.
But this usually applies to newer units. Buyers will find out your unit’s age on selling disclosures and may be turned off by units over a decade old. Older units signal the need for repairs or replacements, and buyers don’t want to invest in a home that will already be in need of AC repair.
Increased Offering/ Selling Price
New HVAC systems can add a boost to the offers and selling price of your home. An energy-efficient system will be even more appealing for its ability to save the buyer money on future electric bills. There’s also the promise of instant comfort knowing that the system won’t fail in the future.
Higher offers will create market competition, making your home more desirable and earning you a higher final selling price. But this is only if your system is less than ten years old. Remember, new units are best.
Older systems may end up lowering the value of your home. Buyers want to avoid having to pay maintenance or installation fees on a new house. They may not offer as much if they know the air conditioning unit is on its last legs.
Newer Systems are Best
Buyers are more inclined to make an offer on your house if your HVAC unit is new. Heating and cooling units are shown to be the most expensive utilities to maintain. Potential buyers are less likely to bid on a house that has faulty utilities with a high repair cost.
Older units are also at risk of generating higher electric bills for how hard the system works. An unmaintained AC may overwork itself in an effort to pump out cool air despite a dirty or dying interior. Buyers should know about any faults with the system, and they won’t be drawn to one that needs work.
Replacing or Repairing Your Unit
Unless your air conditioner is on its last leg, there’s usually no need to replace it. Units ten years and older may subtract value from your home, so it’s best to install a new one if you’re looking for that added boost. A well-maintained unit lasts longer, so you may be able to get away with not replacing your system as long as it runs like new.
If you have a newer system, it’s best to repair it before putting your home on the market. A broken fan blade or a dirty air filter can deter buyers, no matter the age of your system. These small problems can cause major issues over time, and buyers don’t want to anticipate costly repair bills after buying a new home.
A maintained HVAC system is a more appealing system. Regular maintenance can extend the unit’s lifespan, and catch any potential problems. For example, changing the air filter every month can help prevent frozen coils. Monitoring your system for any strange noises or frost can also prevent a larger issue from developing. Most problems that cause AC units to fail can be attributed to dirty or damaged parts, which can be fixed when caught early.
AC tune-ups are also a great way to keep your air conditioner working like new. At Atchley Air, our tune-ups include:
- Thermostat Inspection
- Electric Inspection
- Internal Parts Inspection
- Drain Line Flush
- Refrigerant Check
- Coil Clean
Contact us today to see how a licensed technician can help maintain and improve your HVAC unit, overall adding value to your home.