The value of the average home increases up to 10% with the addition of a new HVAC system.
Let’s face it. Your home isn’t just a place to live, it’s also an investment for your future whether you’re looking to sell it or renovate/upgrade. In both cases, however, an old HVAC system may diminish returns on your investment.
Value Of The House With Added HVAC
- Reduced Monthly Expenditures
- Energy Efficiency
- Increased Resale Value
- Gain Federal Tax Credits
The addition of a new energy-efficient HVAC system will significantly reduce your monthly power bill through the use of advanced technology and quality of life features that’ll cut down on electricity usage.
As technology continues to evolve, newer systems improve significantly. Nowadays these systems are capable of providing great efficiency while both heating and cooling.
Additionally, a newer system will be under warranty from the manufacturer for a few years, meaning you won’t need to spend much on basic repairs and maintenance and you’ll have a quick resolution in matters regarding the system’s failure due to the warranty.
Newer models will also have significantly longer lifespans and won’t need replacement quite as soon as older models.
Keeping around older systems for a long period can lead to reduced efficiency and reliability resulting in the need to constantly repair them whenever they break down. You’ll spend a lot of money per month on repairs just to keep the system afloat when it’s way past its expiry date.
Through the usage of new HVAC software that comes alongside modern HVAC systems, you’ll be able to reduce your costs on heating and cooling while saving energy.
This software comes equipped with smart control features and programmable thermostats, which automatically adjust the temperature based on several underlying factors.
Once the temperature has been adjusted it’ll automatically go into an idle mode, saving you electricity. Newer HVAC systems cut down on resource usage by about 1/3rd compared to older systems. It also allows you to see statistics and important information, especially if your systems keep track of individual rooms.
Through the use of this information, you can check which rooms require the most energy and try to cut down the usage of electricity there or investigate what causes them to require higher energy for temperature maintenance.
Increased Resale Value
Replacing your old HVAC system with a newer and more modern HVAC system will increase your home’s resale value, whenever you may choose to sell your home, it will be subject to several appraisals by others and have inspectors checking every aspect of it to ensure that your home is up to mark according to their housing codes and legal requirements.
Any potential buyer will not want their future home’s HVAC system to require immediate or eventual replacement upon purchase due to the hassle involved in such a process, therefore replacing it ahead of time will keep potential buyers engaged and increase your home’s resale value marginally.
A newer and more modern HVAC system won’t require constant maintenance or repair or parts replacement which is why it’ll appeal to any buyer on the market.
Gain Federal Tax Credits
As an added incentive to swap out our older system for a newer one, both state and local governments have been giving tax credits to citizens whose homes are fitted with HVAC systems of greater efficiency.
This provides tax credits if your installed system meets certain energy efficiency requirements. If your system is energy efficient, you may be eligible to receive tax credits as long as you can provide proper documentation to prove your claim, which will include certification from your manufacturer regarding your system.
For homeowners, these tax credits can be up to 10% of the installation costs of the new system, potentially going even higher if the system works on renewable energy.