Boost Your Home’s Equity with HVAC Upgrades
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.
3 Ways to Add House Equity with HVAC Upgrades
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.
- Zoning system: Quiet and highly efficient, a modern zoning system lets you regulate temperature levels in each room of your house. It can also reduce power consumption, as you don’t need to heat and cool empty or infrequently used rooms in the house.
- Improve home air quality: An energy recovery ventilator (ERV) is another HVAC upgrade to increase equity in your home. ERVs exchange stale air from inside your house with fresh outdoor air without your having to open windows and doors to ventilate the interior. Other solutions for improving air quality include duct cleaning and whole-house dehumidifiers.
- Smart thermostats: Programmable smart thermostats let you control energy use and set temperatures using your smartphone or another digital device. You never have to worry again about forgetting to turn the temperature up or down before leaving home. Some smart thermostats even display your home’s relative humidity. Experts estimate a smart thermostat can increase your house equity by up to 5%.
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.
Is It Time to Upgrade Your HVAC System?
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.