Reasons Home Sellers Should Replace Their HVAC System
When you are selling your home, you need to make a lot of decisions about balancing costs against the amount you will sell for and the length of time your home will be on the market. With each improvement, you’ll need to decide whether you will get your money back or whether it will help you achieve a goal of a quick sale. The HVAC system is often one of the most expensive features in a home to replace. That said, there are several reasons that you should consider making the change before the sale.
Newer HVAC systems are more efficient
The ability to offer lower heating and cooling bills to a potential buyer can increase what they are willing to pay for the home. A new HVAC system may result in lower bills and a greener home, both of which can be strong selling points. You may even find that the increase in your price is enough to offset any costs associated with the new system. Study local prices on both new HVAC systems and houses to see whether the investment will pay off for you.
A new HVAC system may keep the house cooler.
Being able to offer a cool refuge from the summer heat an improve the impression your home gives when buyers are touring. A new HVAC system will be able to pump in cool air without working as hard as an older one will.
HVAC system provides buyers with peace of mind.
No one likes the idea of buying a home and having to make a lot of improvements right away. If the HVAC system is recently updated, the buyer may feel more comfortable about making the purchase. They’ll know that repairs will be unlikely for a bit and that any that come up will probably be covered by the system’s warranty.
You’ll be able to answer questions about the HVAC system’s history.
If you bought the home with the current HVAC system already in place, you may not know when it was installed or what kind of maintenance and repairs it received before you were the owner. A new system allows you to offer a great paper trail that shows everything that’s been done for the system.
Older systems can show some wear and damage that will lead to unsatisfactory comments if a potential buyer has an inspection performed on your HVAC system. This may dissuade some buyers from choosing your house if you are in a market with high inventory. Even in a low inventory market, it could lead to time-intensive updates before you can complete the sale. The buyer may ask you to do it anyway.
Even if you decide to try to sell with the system you have in place and inspectors give it a pass, buyers may make their offers contingent upon updating the system. Handling it later could delay your sale or even cause an offer to be withdrawn.
When making decisions about improvements to sell your home, work with your real estate agent to decide which ones are most worthwhile and which ones can wait. If it looks like a new HVAC system will increase your sales price or make your home more likely to sell more quickly, this can be a good investment. By choosing the updates and improvements that will work in your favor, you can get the profit on the sale that you want without holding onto the home longer than you wish.
This article was brought to you by – The Kris Lindahl Team. If you are looking for commercial property in the Minnesota area give Kris a call. He has a vast knowledge of commercial real estate and works hard for his customers.