Converting Boiler to Forced Air/Central AC
I'm scheduled to close on a 3br/1ba property next week in Edmonson Village hoping to use the BRRRR strategy. The house was purchased for $50k and with a target ARV of $130k based on recent sales in the past 6 months. Most of the updates are cosmetic throughout, but the house has an old boiler /radiator system for heating (no ductwork is installed). Recent home sales in the area with ARV in $130k-140k range mostly offer forced air heating and central A/C. I doubt this makes a huge difference in rent, but the upgrade could impact the value at time of refinancing. How much of a difference is what I hope to determine.
I was quoted $2500 to replace the boiler and about $7-$8k to upgrade the HVAC system. For the purposes of getting a higher appraisal, will an HVAC upgrade matter or would you just replace the boiler?
Keenan