These days, when people don’t remain in their homes like former generations, we often consider the investment value when it comes to the items we replace in our homes. If you are like most homeowners, you always consider the resale value in whatever you do to your home. This will probably include your heating and cooling system, as well. When considering the cost to replace a large investment such as your HVAC system, you may want to feel assured that the cost will be recouped when it comes time to sell. So, how can you determine if upgrading your Markham HVAC system will be worth the money? Your local Markham furnace repair experts suggest the following tips.
Will It Make Or Break A Sale?
Any real estate agent will tell you that a buyer will expect that an HVAC system is working properly and is well maintained. The HVAC system in a home is typically not a “wow” factor for home buyers. But a brand new system can be an interest to a home buyer that may be on the fence. This can make or break a sale. Real estate professionals say that you can only count on recouping 35% to 50% of the cost of your new system in the sales price, but it can mean everything in the actual selling of the home itself.
Will It Detract From The Sale Entirely?
An older, outdated system, on the other hand, is a definite detriment. Although buyers may not even notice a new system, they will most probably be detracted by an old one. Especially during the cold winters in Markham and the GTA, a properly operating HVAC system is essential. And a central air conditioning system is important to many home buyers in today’s hot real estate market.
Will It Affect The Offer Amount?
If you are thinking about selling your home in the foreseeable future and your current system is more than 15 years old, not only is it probable that your system will need to be replaced soon, but there is also a chance that ductwork will need repair or replacement. If your system is in good working order, it may not make or break your sale, but it can affect the offer if a buyer is considering they will have to make an investment in the system soon.
Will It Add Perceived Value To A Buyer?
If you have decided to replace your system, consider one that will have an impact on the value of your home. Energy efficiency and carbon footprint are things buyers look at these days. Even if it is not of great importance to you, it may be to a prospective buyer.
Does It Make Financial Sense?
Considering that you will not recoup the entire cost in sales price, you want to also make sure that your replacement makes financial sense. Consider whether a full replacement is needed or if you just require parts or repairs. This will be contingent on the age of your system and how much longevity is left. One way to consider if a repair makes sense or if the system should be replaced is to consider cost. If the system will cost over $5,000 to repair, it makes sense to replace the entire unit.
If you are looking for advice about replacing your HVAC system, call the expert furnace repair and installation professionals at Mr. Air Heating and Cooling in Markham. We will be glad to give you recommendations about your current system and if it makes sense to repair or replace to add value to your home.