Increase your house value
Imagine. You’re looking to buy a house for your family, and you’re driving to one you’re interested in.
It’s a nice summer day, and when you get there, the house looks great from the outside.
But the first thing you notice when you open the door is a wave of heat and humidity. The air also smells stale. And soon enough, you hear a noise coming from the air conditioner.
After a few minutes, you’re sweating and the noise has gotten impossible to neglect.
What do you think of the house?
What are the odds of you liking the house when the visit is shadowed by uncomfortable heat and noise?
If you somehow love the house otherwise, maybe you offer to buy it at a lower price to compensate for the need for a new A/C. But it’s unlikely.
If a house doesn’t feel comfortable right away, we’re unlikely to feel good about it. It has to feel homey for us to see it in a good light.
When something as essential as the temperature isn’t just right, we can’t get that comfortable feeling. If the temperature is just a little off, we might not be aware of how uncomfortable we feel before we’re sweating or shivering.
So, even though it’s rare that a good air conditioning system would directly increase the price of a house by several thousand dollars, it can make even more of a difference indirectly. The effect comes from how much easier it is to get people to like the house. When they feel the house is comfortable, they’re willing to pay much more for it.
And the higher the utility costs, the less people are willing to pay for the house. That’s another way a good A/C system can indirectly increase the price people are happy to pay for your house.