When you’re getting ready to list your home, it’s important to make sure that everything is in top condition. Many people will spend thousands upgrading their home prior to selling, but overlook one important aspect, your HVAC system! One of the most important, but often overlooked, aspects of preparing your home for sale is updating your heating and cooling system. Many sellers assume that they don’t need to update these systems because they will just be replaced by the new homeowners, but this isn’t always the case. In fact, there are several benefits to upgrading your furnace and air conditioner before selling your home.
Sell faster: One of the biggest benefits of upgrading your furnace and air conditioner before selling your home is that it can help you sell your home faster. If potential buyers see that your home has an outdated heating and cooling system, they may be hesitant to make an offer. However, if they see that you’ve recently updated these systems, they’ll be more likely to put in an offer.
Sell higher: Another benefit of upgrading your furnace and air conditioner before selling your home is that it can help you sell your home for more money. If you update these systems, you’ll be able to include this in the listing price of your home. This will attract buyers who are looking for a home that already has a modern heating and cooling system, and you’ll be able to sell your home for more money as a result.
Less negotiating: It’s also valuable when the home inspector finds the big-ticket items are in a good state of affairs and can often lead to the buyer “backing off” renegotiating on small issues. For example: if you find a number of small issues plus a larger ticket item such as an outdated HVAC system, they tend to go after compensation on it all, but if it’s just small things, they tend to overlook them, saving you time and money.
Between selling your home faster and for more money, removing the ability for the buyer to negotiate a price reduction, you could potentially be increasing your profit by tens of thousands of dollars, and with the average HVAC system costing only around $12,000, that is a great ROI!
We reached out to one of our local real estate agents and Brendan had this to say, “Although we can never say for certain what value a buyer assigns to repairs and upgrades in a home (every buyer is different, has access to different resources etc), we know for sure that their negotiations are typically structured on the basis of what has to be repaired in a home, and even what might have to be soon (eg: a 16 year old furnace). When you’ve had newer high quality equipment installed by a great local company like Affordable Comfort, buyers typically aren’t looking to factor or negotiate on the basis of upgrading these items – which one could make the argument is a 100% return on investment – peace of mind means everything, especially in a balanced or buyer’s market.”
Brendan Clemmens, RE/Max Hallmark Chay https://www.harrisclemmens.com/
If you have any questions or would like any additional information, our team is only a click away and we are always happy to help.
