Are you looking to boost the equity of your home in Merritt Island, FL? According to the National Association of Realtors, refurbishing your HVAC system yields the highest return on investment — and it can be as high as 71%. Upgrading to a central HVAC system and incorporating energy efficiency are two surefire ways to increase home equity. Read on to learn more.
Factors to Consider While Planning an HVAC Upgrade
Apart from your budget, it’s important to determine which upgrades are necessary and worthwhile to your home. You need to take into account factors like the age, geographic location and condition of your system.
The average lifespan of a typical HVAC system is 10 to 15 years. Potential buyers will consider an aging or outdated HVAC unit to be a demerit. A system that’s older than 15 years needs replacement.
If your aging HVAC system requires minor fixes to get it working efficiently, then repairs will suffice. If an outdated system needs a major overhaul, it makes more sense to replace it. Multiply the age of the system by the cost of repair. If the result is more than $5,000, you should replace the equipment.
Potential buyers are increasingly seeking homes with energy-efficient HVAC systems so that they can benefit from lower utility costs. Consider switching to an energy-saving system to increase your home’s value and appeal.
Upgrading to Central Air Conditioning
Installing a central air conditioning and heating system is a worthwhile home improvement project. Although the time, effort and expense involved may be considerable, it can increase your home value by up to 10%. Many home buyers expect central air to be part of their potential purchase, making it a basic component rather than a premium feature of a home that is up for sale.
Adopting an Energy-efficient HVAC System
The resale value of your home could increase by 5% to 8% when you switch to an energy-efficient HVAC system. By wasting less energy, it meets the increasing demand in the home buyers’ market for such systems. An added perk is that some states, including Florida, offer tax incentives for with energy-saving HVAC systems.
Improving the Quality of Air in Your Home
A home with a system that provides clean and safe air will attract more homebuyers who may even be willing to pay a premium for the safety features that are already in place. Examples of components that can enhance the air quality of your living space are air filters and humidifiers. They ensure healthy air as well as comfort, keeping your home free of airborne microorganisms like pathogens and chemical irritants.
Making Supporting Upgrades
Having an energy-efficient and optimally functioning HVAC unit in your home is a plus, but the rest of your house needs supporting features to ensure that the energy saved by the system isn’t wasted in some other way. During an HVAC upgrade, consider adding or updating these additional features to ensure the overall energy efficiency and increased equity of your home.
An HVAC system will function optimally in a properly insulated home. Updating the fiberglass insulation of your home is relatively inexpensive and can yield up to a $1,400 return on resale. Buyers will prefer a home that has these energy-efficient features already in place.
Air ducts connected to a central HVAC system will degrade with age and can reduce the efficiency of the unit. Ductwork that is older than 15 years needs an update so that it meets safety and environmental standards while increasing your home equity.
Weather stripping is another insulating feature that will prevent energy wastage. Good-quality weatherstripping will ensure a tight seal around doors and windows and prevent leakage. Aging weather stripping means degrading insulation in your home. It will make your HVAC system have to work harder, thereby wasting energy and driving up utility costs.
Installing a new central air system that’s also energy-efficient will increase your home equity. Contact us at Merritt Island Air & Heat to schedule your AC installation today.
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