I'm my experience, they technically don't "add value". When negotiating the final sales price, the buyer will ask for a price reduction for an older system they will need to replace. It might add perceived value, if the buyer is comparing 2 similar houses. Most of the time though, a potential buyer won't "pay extra" for a "better" system.
It's always going to add value in todays B.S. California electric rates. Appraisers may not see it due to their "training". A buyer who knows, will notice the new HVAC and appreciate the fact that its going to cost less to run vs. an old model. How much will it increase the value? Likely not more than half the total cost but it will make the home sell faster and the seller can point out the facts about the HVAC being newer, when it was installed, length of the warranty and the efficiency of the model. If the buyer has any common sense, they will appreciate the facts vs. rely on a bank "owned" appraiser who is going to appraise the home on the leaner side of values to protect the banker, not the buyer or the seller. Years back, appraisals were truly "independent" however, since 2008 and many finance laws were changed, the banks tend to have a strong hold on appraisers to appraise "their way" vs. a true independent opinion yet they charge the buyer for an "independent" appraisal that is way overpriced in cost.
Good video. Good topic. Good info. Biggest thing I’ve found is if A Buyer is looking a couple comparable homes and one house has A/c and the other one does not. The House with A/c is Most likely going to be the Buyers Choice & sell Fastest ! 2) ive also found a lot of people don’t really care if the A/c is Old or New. Just that it works. 3) if Your a Seller - and The A/c Works You are usually going to loose Money if You install All New System. Your House WILL Have a Higher price tag to recoup New a/c install. Leaving an old working system in place is usually the Best Move for a Seller. If it dies in first year of sale Home warranty will Fix it !
Home inspectors don't care how old it is as long as it works too. Lots of buyers don't have a bunch of common sense when it comes to home features, they rely mostly on others
I like your videos so much, they are so helpful. I wish you guys were in the Los Angeles area.
Glad you like them!
I'm my experience, they technically don't "add value". When negotiating the final sales price, the buyer will ask for a price reduction for an older system they will need to replace. It might add perceived value, if the buyer is comparing 2 similar houses. Most of the time though, a potential buyer won't "pay extra" for a "better" system.
It's always going to add value in todays B.S. California electric rates. Appraisers may not see it due to their "training". A buyer who knows, will notice the new HVAC and appreciate the fact that its going to cost less to run vs. an old model. How much will it increase the value? Likely not more than half the total cost but it will make the home sell faster and the seller can point out the facts about the HVAC being newer, when it was installed, length of the warranty and the efficiency of the model. If the buyer has any common sense, they will appreciate the facts vs. rely on a bank "owned" appraiser who is going to appraise the home on the leaner side of values to protect the banker, not the buyer or the seller. Years back, appraisals were truly "independent" however, since 2008 and many finance laws were changed, the banks tend to have a strong hold on appraisers to appraise "their way" vs. a true independent opinion yet they charge the buyer for an "independent" appraisal that is way overpriced in cost.
Great feedback Garth! Thanks
Good video. Good topic. Good info. Biggest thing I’ve found is if A Buyer is looking a couple comparable homes and one house has A/c and the other one does not. The House with A/c is Most likely going to be the Buyers Choice & sell Fastest !
2) ive also found a lot of people don’t really care if the A/c is Old or New. Just that it works.
3) if Your a Seller - and The A/c Works You are usually going to loose Money if You install All New System. Your House WILL Have a Higher price tag to recoup New a/c install. Leaving an old working system in place is usually the Best Move for a Seller. If it dies in first year of sale Home warranty will Fix it !
Home inspectors don't care how old it is as long as it works too. Lots of buyers don't have a bunch of common sense when it comes to home features, they rely mostly on others
What will be the new Freon that we will be using January 1, 2022 as The government phases out R410A
Hmmmm! :) Very intersting points!
Nothing will increase your homes value currently.
Lol.
Answer to the title is hel nope. Nobody cares 😴.. usually buyers care more about many other things than ac unit .