Selling your home is a big step. It’s not uncommon to have questions about upgrades before you sell. Many Ontarians replace furniture before selling a house, but what about your HVAC system? How much does a new furnace increase home value?
Selling Your Home With an Old HVAC System
At Guelph ClimateCare, we work with families across Guelph and the surrounding areas, supplying services and products for heating, cooling, and air quality. We know a little bit about what makes a great HVAC investment. Here, we’ll talk about the impacts of selling a home with and old HVAC system and the approximate HVAC upgrade cost.
Numbers Speak Louder Than Words
The most common questions regarding HVAC and home sales are, “How much does a new furnace increase home value?”, and “How much does it cost to replace or update my HVAC system?” The answers depend on whether you need an entirely new HVAC system for your house, or simply to replace a few components.
Here are a few price points to consider:
- New furnace: $3,500 to $6,500
- New air conditioner: $2,500 to $8,900
- HVAC installation (including new ductwork): $7,000 to $17,000
Realtors suggest a new HVAC system could lend 10% to your asking price. For a $350,000 home, this adds an additional $35,000 to your transaction. This makes the cost of buying a new HVAC system vs. the income received after selling well worth the upgrade.
How Old is Too Old for an HVAC System?
A well-maintained HVAC system can last anywhere from 10 to 15-years. Some last longer, as the newer models are built to last. If your current HVAC system is nearing this milestone and you’re trying to sell your home, upgrading is a great selling feature for potential buyers.
Homebuyers are educated and looking for the facts. A home inspection will tell them how old your furnace and AC unit are. Knowing this, a smart buyer is less likely to pay top dollar for a home with an outdated HVAC setup, knowing they will have to put thousands into heating and cooling in the next year or two to complete the upgrade themselves.
Whether your home HVAC system needs servicing, repairs or a complete replacement, for the best advice and solution to all your heating and cooling problems, contact our HVAC experts today.
Selling with Old vs. New
With all this new information about HVAC systems cost vs. value, the question remains, “Which is better old or new?”
Older HVAC systems won’t necessarily make or break a house sale, but they could talk a potential buyer out of a sale. On the other hand, a new HVAC setup doesn’t always guarantee a huge increase in home value, but it will pique the interest of buyers. Both cases depend on whether or not other homes in the area are selling with or without a new HVAC system.
Before making the choice to buy all new heating and cooling products, talk to your HVAC specialist. Guelph ClimateCare can assess your current setup and determine whether repairs, replacements, or entirely new systems are in order.
Contact Guelph ClimateCare
Interested in learning more about the impact of HVAC on home value? We can help. Our team of experienced heating and cooling experts are happy to walk you through an overview of central air home value, and how it can influence your future selling price. Contact us today or give us a call, we would be happy to help.