What comes to mind when you think about projects that increase your home’s resale value?
Kitchen remodeling, bathroom renovations, patios, and other in-demand remodeling projects are likely at the top of your list. Air conditioning installation? Probably not so much.
However, a new air conditioner adds more value to your home than you might initially expect. Below, we’ll explain how much a new air conditioner could add to your home’s value and why it could be a smart decision if you’re planning to move in the next several years. Contact the Quality Air Experts team if you would like to learn more about investing in air conditioning installation services for your home!
HVAC Systems and Resale Value
No matter how long it’s been since you purchased your property, take a moment to put yourself in a buyer’s shoes and imagine their train of thought as they consider purchasing a home with an old and outdated air conditioner. Would you want to pay closing costs, a down payment, and know that you’ll need to invest in a new air conditioning system in the next several years? Probably not.
On average, you can expect an air conditioner to last between 10 and 15 years, though it could have a much longer lifespan with proper maintenance. If your air conditioner is within this range, you can almost certainly bet on buyers taking note. In fact, if the unit is in particularly poor condition or clearly on its last legs, you may be asked to lower your asking price or pay for a replacement.
But what about raising your home’s value? Does investing in a new air conditioner make sense if you’d like to increase your property’s value and/or increase your chances of a faster sale in the next several years? Absolutely.
First, air conditioning is non-negotiable in Sterling, and the state of Virginia more generally. Buyers know that they’ll need to run the air conditioner during the warmer months of the year, and they’ll probably ask you how much they can expect to pay in utility bills each month.
Moreover, buyers are attracted to and willing to pay more for homes with lower carbon footprints and interior upgrades. In fact, recent research suggests that homes outfitted with high-efficiency air conditioning systems, furnaces, and windows can justify a selling price up to 2.7% higher than homes without them.
An increase of 2.7% may not sound like much initially, but consider that if you’re listing your home at $350,000, a 2.7% price increase raises the initial price to $359,450. Of course, one air conditioning unit alone won’t justify that kind of price increase; you’ll likely need to pair it with the other features noted above. It’s recommended that you talk to your real estate agent about how much value a high-efficiency unit could add to your home, especially when combined with other green products.
At the end of the day, a new air conditioner is a quality of life investment. Whether it’s an upgrade primarily for you, the homeowner, or an upgrade made with future homeowners in mind, is there anyone who won’t enjoy lower energy bills and a more comfortable home?