Geo's added value when selling house?

Discussion in 'General Discussions' started by ssmith, Mar 29, 2018.

  1. ssmith

    ssmith Member

    We plan on selling our house in another year. We have a ground loop Climatemaster geo system that was installed in 2011. It is perfectly sized for the house and has been rock solid since installation.

    Not much in the way of comps in our area that have geo systems. Can we expect to have any premium added to the house listing because of the geo system? What are others seeing in their area? We do live near a college area, so home buyers here often have more interest in energy conservation / "green" building, though not sure if they're really willing to pay more for these things.

    My thoughts are that it is a plus just due to lowered heating and ac costs to someone not necessarily looking for geo heating. This might make the house more able to be sold vs other older houses in our area, but not necessarily reflected in the sale price. I can give the our real estate agent any graphs she wants as I've kept records of our electrical usage monthly since before the install. For us, the system has been great, and already paid itself off in fuel savings, so any extra at time of sale would be a win-win.

    How best to market?
     
  2. moey

    moey Member

    Past real estate agents always told me heating cooling systems add little to the value of a home. As long as what you have works reasonably. Of course you can find lots of articles saying otherwise.
     
  3. nc73

    nc73 Member

    Most do not want the complication of geo, unless they understand it and is looking for it. Might be hard to find someone to repair. I dismantled mine before selling the house, sold in a day.
     
  4. moey

    moey Member

    Based on the current market shoot for the moon and market it as being worth more. Houses around me literally get scooped up in hours of going on the market.
     
  5. nc73

    nc73 Member

    That's only valid if you're in a somewhat desirable location. Bad locations will always sit longer no matter the market.
     
  6. ssmith

    ssmith Member

    Wow. I had to double check. Thought I might have posted my question on the wrong forum...like maybe green building advisor.com :)

    Seriously though, tell me more about the system you removed to sell your house. Was it working well? Was it older? What did you replace it with?

    In my case, I can't imagine a better or less expensive way to heat our place. We don't have access to natural gas, and we live in an area that has long cold winters. I would think it would be a no brainer, if given the choice between 2 properties, one with a geo system and 7 years worth of utility bills vs one with an oil or propane furnace...all things being equal...the buyer would not buy the geo house because it has a geo system?
     
    Last edited: Apr 3, 2018
  7. IronOak

    IronOak New Member

    Good evening SS,
    No, you are in the right place.
    Sadly, I'm not at my office desk right now to look at my research & notes...I've got a lot to say about this very subject!
    I will try to post when I get back into town.

    Warm Regards,

    IronOak
     
  8. nc73

    nc73 Member

    It was DIY and I had it setup as a hybrid, closed ground loop and I could switch to pump and dump at peak times when it gets too cold so i don't have to use heat strips. It actually did not come with heat strips. yes I went cheap. when i asked agents what they thought, most said unless someone was looking for one, it would not be a good selling point unless the buyers were knowledgeable. Not many HVAC people work on geo. I don't know many every day people that knows anything about geo. I just got another property in the works, so this one will have a better geo heat pump and probably looking at a pond loop. i will use the old one I removed for a future garage at the new property. In hindsight I should've sold it as-is, but i didn't want to risk it. The house is vacant and I don't want to be driving back and forth much longer. I'm several states away. I was amazed it sold same day! Would it have stayed on the market longer if I didn't remove the geo? Maybe, maybe not. If I were you just mark it up as you see fit. There's always room to negotiate.
     

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