For the most part, location and square footage are the biggest drivers of a home’s value. Having that extra bedroom or being closer to some good restaurants will make people pay more. Most homeowners don’t think about increasing home value with HVAC upgrades. An HVAC upgrade is not as exciting of an amenity as a backyard pool or panoramic view, but there are scenarios where it can be one of the best renovations to increase home value. Continue reading to learn about when and where this is the case.
Air Temperature and the Impact of HVAC on Home Value
A home is only as valuable as what someone will pay for it—and nobody likes to be uncomfortable. If your home is in a hot area with an air conditioner that struggles, replacing the HVAC will likely increase its value because people want to enjoy their living space.
The goal should be to keep the indoor air temperature no higher than 21 or 22 degrees Celsius. An older air conditioning system may not be able to circulate enough cool air to sustain this temperature.
It is also not uncommon for older furnaces to struggle to keep things warm in winter. This is often associated with higher energy costs too. Therefore, having a professional come out to inspect your HVAC appliances is a good idea. Determining which specific HVAC upgrades should be done, like heat exchangers, coils or ductwork, for example, will give you a better idea of whether or not there is an opportunity to increase your home’s value.
Air Quality and New HVAC System Prices
If a home has that mouldy, musky smell, homebuyers will notice. This is the kind of thing that will reduce someone’s willingness to pay a higher price tag for a home. Most of the HVAC upgrades that are geared toward improving air quality work by improving air filtration. The better the filtration, the more expensive the upgrade will be.
Most people are comfortable with filters that have a MERV rating of at least 7 because this is the rate that captures dust, mould and pollen. To increase the value of your home, go for an HVAC upgrade that offers filtration in the 7-10 MERV range. Anything beyond that will not increase the home’s value because most homebuyers will not be able to justify the higher price for hospital-grade air purification.
Contact Your Local ClimateCare
If it’s a struggle to keep your home at a comfortable temperature, or the air quality is sub-standard, HVAC upgrades are something to consider when aiming to increase home equity.
Reach out to the experts at Lambton ClimateCare to see what your options are. Requesting a quote is a good start. Over time, the value of the energy savings might even pay for the cost of the upgrade!
