Why a HVAC Upgrade Will Help Sell Your Home
Those who are thinking about selling their home are often concerned about how long it will take and receiving the best price. Real estate agents recommend preparing your home before placing it on the market. You will need to fix problems and make repairs. It is also important to make improvements that appeal to home buyers.
Realty101, an educational online resource for home selling and buying, states, “In a tough real estate market, many home sellers will find that it’s difficult to sell their property.” “It’s important to remember that while there are many home improvements that could be made to a property, home sellers need to focus only on the home improvements that should be made.”
The questions of which improvement has the most appeal to home buyers and which add the most value at resale is answered in the Remodeling Impact Report. The National Association of Realtors and National Association of the Remodeling Industry surveyed thousands of homeowners, real estate agents, and remodeling professionals to create this first-ever report.
They discovered a HVAC upgrade or replacement ranked in the top 10 for both appeal to home buyers and adding value at resale. They estimated the average cost of a HVAC replacement at $7,000 and it added $5,000 of value to the home. Many home improvements add little to no value, but a HVAC replacement has an impressive 71 percent cost-to-value ratio.
How much value is added depends on the individual home and current market. Nonetheless, the Remodeling Impact Report reveals home buyers are looking for more than simple cosmetic improvements. They seek remodels that add function and livability, and that will increase their enjoyment while at home.
If you would like to talk more about how a HVAC upgrade can help sell your home, or need more information, please contact us.