by Rachel Fung
on Sunday, May 26th, 2019 at 8:04am.
Home improvements can increase the value of your home, but some improvements can have a better return on investment than others. If you’re thinking about installing an air conditioner, but might want to sell soon, will you recoup any of the cost at resale?
They could help your home feel complete.
Edmonton Air conditioning companies can install an energy efficient air conditioner that will be attractive to potential buyers. In most homes, a cooling system is considered a standard mechanical system so not having one could harm your chances of a quick sale. A new air conditioner in Edmonton will also help you home stand out compared to homes with dated, inefficient cooling systems.
Air conditioners have higher ROI in warmer climates.
An air conditioner in Edmonton will not have as high of a return on investment compared to one in Arizona. Obviously, we don’t have as many hot days here as they do there. Essentially, we could survive without AC. That said, we do still get some scorcher days and those who have air conditioning sure do appreciate it. Maybe future buyers will too.
The neighbourhood you live in could play a factor in your ROI too. If you are in an upscale neighbourhood with more expensive homes, not having an air conditioner when every other house on the block has one could hurt your home at resale. Buyers in that market will expect it and might want a discount if the house doesn’t have it. If you’re in a neighbourhood where most homes don’t have AC, there is a limit on the amount of value it will add back to your house when you sell. If you’re unsure, speak to your real estate agent.
Home improvements with more bang for your buck.
If you want an air conditioner for your own personal enjoyment, you should get one. If you want to spend money on home improvements for the purpose of increasing resale value and marketability, there are other renovations that will do a better job of that. For example, a kitchen renovation can recover more than 80% of it’s cost at resale. Any realtor will tell you that a home with a new, modern kitchen is a hit with buyers. Other valuable home renovations include bathrooms and exterior renovations.
How much ROI could you get with an air conditioner?
Edmonton homeowners can recover less than half the expense of installing an air conditioner at resale. If you think buyers will expect you to have one, and you want one for yourself in the meantime, it could be worth it. Otherwise, you’re better off spending your renovation dollars elsewhere.