Question:
We are thinking about changing our furnace in our older home, which presently has a boiler type furnace converted to gas, to a more efficient type of furnace. How would this affect our selling price, if we decide to sell, and would it be easier to put on the market?

Mrs. A. A.

Answer:
Dear Mrs. A. A.

It is true that in today’s energy conscious world more and more buyers are looking for an efficient way to heat a home. I would have to caution that that particular improvement, although an excellent one, will not always influence a buyer’s decision to buy. When someone looks at a home it is the total package that influences their decision not just one single component. Location, curb appeal, cleanliness, size, and updates are all part of the decision. A home with older windows, poor insulation, and in general need of revitalizing, will not be sought after just because the furnace has been changed.

If and when you are ready to sell I would advise you to seek the advice of a REALTOR® in getting a market evaluation of your home. They will be able to tell you if changing your furnace would greatly contribute to your selling price and market value. If on the other hand you feel that changing the furnace would greatly increase your enjoyment and the time you will stay in your home then do it. A new efficient furnace will reduce your heating costs no matter what else so do this for yourself if you want it. If you are just doing the improvement to help sell your home have a REALTOR® give you an evaluation of the total package with and without the improvement. Often you will find that selling for a more realistic market price will be the best solution, and letting the buyer make the decision as to what improvements they would like done.

So Mrs. A. A. it is very difficult to say whether or not this one particular improvement will affect your selling price and marketability of your home. The entire package needs to be looked at and evaluated as to what is selling similar to your home on the market. If you are not ready to sell yet call a REALTOR® and have them look your property over and get their advice based on the whole package. Discuss with them the options you are willing to do to affect your salability in the market, and settle on a price which is equitable to both you and the buyer. Thank you so much for your thought provoking question.

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