With the current rise in global temperatures, you may want to seriously consider adding central air conditioning to your Baltimore-area home. Will it increase the value of your home? Yes. However, the exact dollar or percentage value will vary depending on a number of factors.
The typical cost of installing a new heating and cooling system is about $10,000. This can be more if you are currently using a ductless heating method, as ductwork will have to be added to your home’s interior.
This means that you won’t get much of your investment back immediately, or at all unless you use it for a few years. So, if you’re about to sell, installing a new system is probably not worth the money. However, a home that has the same features as yours, in the same neighborhood will likely command a higher price than one without central air conditioning.
What Kind Of Return On Investment Could I Get On My HVAC Unit When I Sell My Home?
While you’re unlikely to get your full return on investment, you might get as much as 20-30% back when you sell your home. Adding a new HVAC can increase in your home’s resale value, which will raise the overall market value.
Always consult with your local real estate agent for a more accurate estimate based on your house’s condition, your neighborhood and the current real estate market.
In addition to the increase in monetary value, HVAC systems make your home more appealing to potential buyers (especially if you’re selling during warm seasons), which could help to sell your home faster.
Could An HVAC System Save Me Money On Monthly Bills?
Yes, a new central air conditioning system (HVAC system) can save you money on energy bills each month. These units are designed to be so much more efficient than typical window units.
That, combined with the fact that many new HVAC units are many times more energy-efficient than even HVAC units from just 5-10 years ago, means there’s a chance you could see as much a 20-40% reduction in your energy costs & utility bills each month! Depending on the square footage of your home, your current monthly electric bill, and the energy efficiency of the new system, you might even pay back your initial investment in the first 8-10 years!
If you’ve been contemplating getting a new HVAC system installed in your home, contact with a certified HVAC installation contractor. Get a variety of estimates and make sure that you understand what all of the charges entail. Upgrading your system is less expensive than starting from scratch.