Impact of asbestos ducts/furnace age on sale price?
Curious to get some feedback from folks on this forum on a financial decision we're weighing....thanks!
As part of a kitchen remodel, we're taking out an old chimney and need to re-vent our existing hot water heater and furnace. Both are 15 years old, in good condition, and decently efficient. The only real issue is that our current ducting is asbestos---something that's not uncommon in older homes where we live, and is not considered a huge issue provided the ducts are in good condition (as ours are). However, it's still something that needs to be disclosed upon sale.
We've gotten some bids on the work, and were surprised to find that re-venting the existing equipment is about a third the cost of a new 96% efficient furnace with new asbestos-free ductwork. We can afford to do this, but it's a reach and we're not super excited about replacing a perfectly functional appliance. Because our current furnace is 80% efficient and we live in a moderate climate where total heating bills are only a few hundred dollars a season, we would never make up the cost in energy savings. However, there are some major pros nonetheless: when we sell, we'd be selling an asbestos-free home with a 5-year-old v. 20-year-old furnace, and the high-efficiency furnace can be vented directly out the side of the house, which means we don't need to have a little duct running along our kitchen wall or along the outside of the house. (The water heater vent can fit into a standard wall; the combined vent can't.)
So my question: can we realistically expect to make up a little of this cost when we sell, or is that highly unlikely? As a buyer, would you pay more (or discount an offer) on a home with/without asbestos ducts, or with/without a high-efficiency furnace? (This isn't something we knew to look at or think about when we bought, but we were also first-timers.) We're in a starter home and are likely to be here another 5-7 years, so barring any emergencies, we don't plan to do any additional HVAC work---whatever we do now is it. We also want to avoid paying for things twice---i.e., re-venting the furnace now if we should really replace it and/or the ductwork before selling anyway.
Thanks for any thoughts!