People renovate their homes for all sorts of reasons. Additions, refurbishments, and restorations are just some of the ways homeowners increase space, avoid moving, and maximize property value. Did you know, though, that upgrading your HVAC system is also a terrific way to add valuable equity to your West Palm Beach home?
Energy-efficient HVAC upgrades have up to an 85% return on investment. Only two other projects, complete kitchen renovations and kitchen upgrades, see a higher ROI.
If you want to add value to your home by improving its heating and cooling system, though, it’s important to understand precisely which upgrades will add the most value.
Let’s start by talking about what house equity is. Many people think of house equity as the property assessment or sales price. However, the correct definition for house equity is the difference between what you owe on your mortgage and what your home is currently worth. When you install a new, highly efficient HVAC system, it can positively impact your home equity, whether you intend to sell your home or not.
Along with investing in an entirely new heating and cooling system, here are several other ways you can increase house equity with an HVAC upgrade.
It’s essential to properly size your new HVAC system to ensure you get a great return on your investment. If a unit is too big for your house, it can make the indoors less comfortable as it too often switches on and off. A too-small unit can cause higher energy costs due to heating and cooling inefficiencies as the unit works harder to cool or heat your home.
From improving home air quality to increasing your home’s value, an HVAC upgrade brings greater comfort and more enjoyment to your home. If your current heating and cooling systems are more than 10 years old, it’s a good idea to consider replacing them with newer, more energy-saving models that function more efficiently and help reduce your monthly energy bills.
If you’re ready to upgrade your West Palm Beach home’s HVAC system, Hopkins Air Conditioning can handle all your HVAC installation and maintenance needs. We’d love to talk with you about how upgrading your home’s HVAC system is a smart way to increase your home equity without breaking your budget!
Contact us online today or call us at (561) 656-4870 to learn more about all the home heating and cooling services we provide.