Selling, Moving, and Your Stockton Home’s HVAC: When HVAC System Replacement Is a Good Idea
Stockton and the surrounding area was hit hard by the financial crisis, and it hasn’t been an easy decade for many of us here in the region. One result was that people stopped buying and selling houses, choosing instead to rent or to stay in the home they already owned. But that’s changed a lot in the last year and half, and the real estate market has really bounced back–a trend that many expect to continue in 2016![1. https://www.realtytoday.com/articles/63167/20151217/top-10-real-estate-markets-2016-forecasted.htm] We’ve seen this with our clients; many homeowners are thinking about moving, and are considering different ways of adding value to their homes as a result.
Most of the people who get ready to sell a home think about paint or flooring, or maybe a bath remodel. They don’t often consider replacing that faulty old HVAC system. But they should–a new HVAC system adds value to your home in more ways than one, and is worth considering whether or not you’re thinking of selling.
But We’re Moving!
This is the primary argument we hear against installing new HVAC equipment–something along the lines of “we won’t be able to enjoy it.” It’s very true that many homeowners look at the typically high cost of an HVAC replacement as not worth doing if they won’t be there to enjoy it!
But the same can be said of almost any home improvement designed to add value to your home. Whether you’re repainting, remodeling, or landscaping to add value, if you’re selling you won’t be the one who gets to enjoy it. Instead, your benefit is financial. You’re trying to turn a profit, or make the home more attractive to potential buyers. And when compared to the cost of the property overall, the cost of HVAC replacement isn’t much. And, it’s a cost you may be able to add to the total value of the property.
You might also be surprised at how affordable a new system–or even just a furnace or air conditioner–can be. Financing options are also available, and many of the loans for HVAC equipment stay with the property instead of the borrower. This means that when you sell, the new buyer will take over the loan repayment. That allows you to make the home more attractive without raising the price too much–a win-win!
HVAC System Replacement: Worth the Investment?
All of that said, there are still a few factors that will affect your decision. And if your aim is to sell, that decision will rest on whether it makes financial sense. If you’ve been having HVAC problems for a while, or the furnace or air conditioning are not up to snuff (or are over a decade old), you can expect to answer some questions from prospective buyers. You can also expect those prospective buyers to factor in the cost of replacing the HVAC themselves into any offer they’ll make.[2. https://www.diynetwork.com/shows/money-hunters/articles/10-investments-to-boost-your-homes-value] If you have it done before you sell, you’ll turn the tables on this scenario. They’ll be happy to see new equipment, and you can avoid HVAC being used against you in a buyer’s bid.
If you’re a property investor looking to “flip” a home, then you’ll be looking for ways to cut corners. Unlike a homeowner who may be happy to get what they paid or even take a slight loss if it gets them out of the house, you’ll have to make a profit! And while we certainly understand that, we also know that prospective buyers love seeing new equipment in a home–even one that’s been done-up on a budget. There are a lot of HVAC options out there for every budget and every home, and we’re confident you can find one that meets your unique needs.
HVAC Systems and Moving In
Maybe you don’t want to sell at all. Maybe you’re on the other side of this equation: the coveted potential home owner. HVAC system replacement can make a lot of sense for you, too. If you’re still in the buying process, and the equipment in the home isn’t in the best shape, you may be able to get the owner to help with the cost of new heating and air-conditioning (this is a good reason to have an HVAC tech take a look at any equipment in a house before you make your bid). Even if you’ve already signed the papers and moved in, replacing old equipment is a good idea. You’ll save money every month on your utilities, and you’ll start a relationship with a reliable HVAC company that will last for decades.
No matter what your situation, consult a good HVAC contractor with your questions and needs. They’ll help you determine whether system replacement is right for you, as well as give you options and make you aware of any factors that you might not have considered. So remember: if you’re selling or moving, you really ought to be installing!