If you’re thinking about selling your home, you might be considering doing some renovations to increase your home’s resale value. Along with new kitchens, roofs and paint, replacing your furnace is a common upgrade that homeowners consider before putting their house on the market.
Let’s face it, a new furnace won’t blow buyers away in the same way that granite counters in a brand new kitchen will. Regardless, here are 4 reasons that a new furnace can still be a wise move before you sell your home.
The reality is that no, a new furnace does not increase the resale value of your home. You can, however, expect to recoup about 71% of the cost of your investment.
If your primary goal is to increase your resale value, you may want to allocate your budget towards other renovations. Worst case scenario, you’ll save some money on heating bills before you move out! Keep reading to learn how a new furnace can still be a beneficial investment in the eyes of prospective buyers.
Energy-efficiency is becoming an increasingly important deciding factor for home buyers. In fact, an energy-efficient home was one of the top 10 must-haves in a survey of home-buyers in the Greater Toronto Area.
Interestingly, 16% of those surveyed noted a concern for the environment while 60% wanted an energy-efficient home because of the lower utility costs. Whatever their motivation, installing a new furnace can help to attract the increasing number of buyers who prioritize energy-efficient living.
Let’s put numbers aside for a minute. A successful home inspection is often a condition of sale, so the last thing you need is for your furnace to cause problems with the inspection.
An older furnace isn’t inherently a problem, but it could create issues leading to a failed home inspection. Carbon monoxide or gas line leaks are one of the most common furnace-related issues that could result in a failed home inspection, not to mention the health risk it poses!
If you’re not sure about the condition of your furnace, give the experts at Crystal a call. We can inspect your furnace and either provide the necessary maintenance or provide recommendations for a new model.
Don’t settle for your furnace simply being able to pass an inspection. Old age, signs of poor maintenance or anything else that could cause costly repair bills in the future can make buyers wary.
Not all buyers can or want to do major renovations. Even then, many would prefer to spend their budget on more visible, cosmetic upgrades instead of a furnace hidden away in the basement! Having the peace of mind that they won’t have to do any major work on the HVAC system can be a huge plus in the eyes of home buyers.
A new furnace may not be a selling point for your home, but don’t let it become a dealbreaker for prospective buyers either. It won’t increase the resale value of your home, but a new home heating system can draw in home buyers who value energy-efficient living and peace of mind.
Contact Crystal today to get started with installing a new furnace in your home in Brantford, Hamilton or Norfolk before it goes up on the market.