What kind of home value increase can I expect if I add an HVAC system? I've seen a few houses that I'd be interested in if I'm able to lower the purchase price and the value of an HVAC is worth it. What have kind of value has everyone seen?
This is a tricky question to answer:
On a single family home, I'd say you can recover the cost the HVAC system when flipping a house.
If you're renting a SFH then you'd have to consider if you're paying for utilites or is the tenant? Also, is this a high efficiency HVAC system? If so, can you then command higher rents because the tenant pays less in utilities?
If you're paying for the system and utilities, are you financing the cost? What does that do to your monthly cashflow? Would you be able to command higher rents?
@Jairo Ortega this would be for properties I intend to rent out. I should clarify a bit, all the homes I've looked at so far have a furnace but no central air.
Not certain if I could command a higher rental due to it, my assumption would be yes, albeit slightly. Most of the homes in the area are cooled by window units so my properties would have that over others. And I have no intention of paying utilities for a tenant.
I all ways fix all mechanical issues on all rentals .Fact I do stuff that some flippers on here would not do .Hot water tank that is over 10 year old I change it out .Now my labor cost is very friendly same plumber for 30 years .
HVAC units, I will not leave a run out sled on a rental and hope for the best .
I am a long term holder so it makes sense .