How to Improve Home Equity With HVAC Upgrades in Mansfield, Ohio
Most economists and real estate experts will agree that owning your own home is a sound investment. With homeownership, however, comes a certain amount of upkeep. And this is especially true if your goal is to maintain or increase the equity in your home. That said, one of the best ways to go about doing just that is by making HVAC (heating, ventilation, and air conditioning) upgrades or replacing the unit if it is too old.
According to a joint study conducted by the U.S. Department of Energy and the U.S. Green Building Council, a non-profit organization that promotes sustainability in building design, construction, and operation, homeowners who invest in energy-efficient HVAC systems are rewarded with a higher selling value when they decide to put their home on the market, typically 5 to 7 percent higher than that of homes with less energy-efficient systems.
Should you upgrade or replace your HVAC system in Mansfield or Ashland, Ohio?
When choosing whether to upgrade or replace the HVAC system in your home, there are a few things you will want to take into consideration. The first of which is age. For example, if your HVAC is less than 15 years old, there is a good chance that it is reasonably efficient already. That said, you could get away with replacing your standard air filters with energy-efficient, high-quality air filters. In doing so, you could significantly reduce your energy usage and energy bill when you run your HVAC system.
It is also a good idea to have your system serviced periodically as this will keep it functioning properly longer. And therefore, you will be less likely to find yourself in the position of having to replace your HVAC system or make expensive repairs before putting your home on the market. The following can also improve efficiency when it comes to your HVAC system:
Replacing insulation – Over the years, the insulation in a home, which keeps it warmer or cooler depending on outside temperatures, becomes less efficient. As a result, the HVAC system must work harder. And this means you will encounter higher energy bills. Replacing worn insulation will take some of the strain off your system and offer a sizeable return on your investment should you decide to sell your home later.
Replacing old windows – Just like insulation, the windows in a home can become less efficient over time and cause the HVAC system to work harder. A recent study revealed that old, inefficient windows allow as much as 35 percent of warm air to escape the home, leaving homeowners with higher energy bills during cooler months. That said, if your windows are more than 20 years old, you should consider replacing them.
Should you replace your HVAC system if it's more than 15 years old?
While most homeowners are reluctant to replace an HVAC system that is still working, there is a benefit in doing so if the system is more than 15 years old, especially if you plan to sell. Studies show that from a buyer's standpoint, those who are in the market for a new home are more likely to choose one with a newer HVAC system rather than an older one. And this is not too surprising given that most homebuyers prefer a home that is turn-key ready rather than one that requires repairs and possible upgrades.
If you are considering replacing your heating or cooling system, we invite you to contact our team of professionals at H & H Plumbing Heating Cooling today for your estimate.