Getting Your Money Out Of It
Steve is selling a home. Should he do a repair or a replacement of an air conditioner to make that easier?
QUESTION: Steve has a $500,000 house for sale and has been lowering the price. He needs to do some repairs on the 15-year-old house for about $3,300. Should he just replace the whole unit and advertise that to the buyer, or just patch it up?
ANSWER: I don’t know if you’ll get all your money back if you put a new unit it, but you make the home a lot more marketable. I can’t tell you that it increases the value of your home by that amount. You might just do the repair and continue on. Unless you’re just going to gut the whole thing and put in all new stuff, you probably won’t get your value out of it. Double check and get your real estate agent's opinion. They may know better.