When you buy a home, making improvements can always seem like a gamble. Will you get your money back if you sell? We know that splashy renovations on kitchens and bathrooms can usually help with selling a home, but what about behind the scenes improvements, such as a new HVAC system?
Most potential buyers don’t tour a home for sale and jump up and down about the heating and cooling system. Neither do they scour websites like Zillow and Trulia for pictures of air conditioners and furnaces. Granite counter tops and hardwood floors usually steal the show. However, the heating and cooling systems are an important element of the home and they are a major investment. Because of the expense of a new heating and cooling system, you may be on the fence about whether or not to take the plunge.
Is it worth it to get a new HVAC system for your home?
Are you planning to move anytime soon?
No- if your furnace and air conditioner are old, and you have no immediate plans to move, then it often is worth it. Newer furnaces and air conditioners are much more efficient and will end up saving you big time on your gas and electric bills. The typical lifespan of a furnace is 14-20 years and an air conditioner usually lasts 10-12 years. If your units are nearing that mark, then it’s most likely in your best interest to look at new ones. Not only might you avoid some major problems and repairs that come older units, but you will save more on your monthly payments with more efficient units.
Are you putting your home on the market in the near future?
As we said above, a new HVAC system won’t necessarily attract buyers like moth to a light in the same way a finished basement or kitchen remodel would. However, buyers know that HVAC systems are pricey and it’s not something they want to have to worry about right away. If they learn that a home’s HVAC system is outdated and will need to be replaced soon, they may come back with a much lower offer.