Whether you’re looking to put your home on the market or want to increase the value of your property for the future, there are a lot of steps you can take. While redecorating, upgrading things like the boiler and adding an extension are common ways people increase property values, you might also want to consider adding air conditioning.
In the UK, air conditioning isn’t a common feature in residential properties, which is why many people don’t consider it when making home improvements. However, it can make heavily insulated houses more comfortable in the summer months, help apartments affected by rising heat to maintain a steady temperature and provide cleaner, filtered air that reduces indoor air pollution.
While these benefits are great for you, what do they mean for your property value?
Air Conditioning And City Properties
Air conditioning is increasingly being seen as a necessity when it comes to city properties. This is because population density and warmer summers frequently see temperatures sour for many months throughout the year.
When you combine this with heavily insulated building methods, multiple storeys and not wanting to open windows due to noise and smog, air conditioning ends up being sought after.
As a result, many people purchasing homes, as well as those looking for rental properties, are looking for options that include air conditioning or are suitable for AC installation.
Having aircon already installed in a city property could therefore mean you can ask for more when selling or charge more rent, as it is an extra amenity that is being sought after.
How Much Does Air Conditioning Increase Property Values?
Because air conditioning is not overly common in the UK, there isn’t a lot of data that allows us to see exactly how much it can increase property values. However, the fact that it isn’t a typical option in UK properties means that having it installed will ensure your home stands out from other similar properties on the market.
If we take a look at average property increases in North America – where air conditioning is a more common feature in residential properties – having aircon installed is estimated to increase property value by 2.5%.
When you consider the fact that the average residential property price in London stood at £509,935 in the second quarter of 2021, installing air conditioning in a home in the capital could mean an extra £12,748 on its value – going by the North American average. This means a great return on your initial investment.
Can Air Conditioning Increase Rental Income?
If you’re a landlord or are looking at properties on a buy to let basis, increasing your rental income is going to be a big factor when making improvements to properties.
A big part of this is providing properties that are comfortable and livable, which includes ensuring they maintain a good temperature throughout the year. In winter this means making sure your rental property is well insulated, has good windows to avoid heat loss and that it has a working heating system. When it comes to spring and summer, this will mean ensuring your tenants can stay cool.
Unfortunately, this can be more difficult, especially in cities, which is why offering a rental property with air conditioning will make it stand out for the right reasons. Aircon that doesn’t take up a lot of space, is effective, quiet to run and won’t increase tenants’ energy bills dramatically will be a big draw.
As well as allowing you to charge more rent to cover the initial cost of the unit, air conditioning may also help encourage tenants to stay for longer tenancies. This reduces costs associated with advertising your property and finding new tenants.
What If My Property Can Have Air Conditioning Installed?
Many people are told that their properties cannot have air conditioning installed, especially in city locations. This could be due to a lack of outside space, being in a multi-storey building or rules around listed properties and conservation areas.
However, this isn’t the case, as there are air conditioning options that don’t require outside space for a condenser or changes to be made to a property’s exterior. This means you can still benefit from the increase in the value of your property and really set your home apart from others in the area.
Here at Urban Cooling, we offer fully internal air conditioning that can be installed in any type of property. Our water-cooled systems feature internal condensers and we don’t even need access to the exterior of your building to install them.
This means we can install your air conditioning in as little as 7 days, whether you’re in a semi-detached house or a 10th-floor apartment.
Even better, all of our fully internal air conditioning comes with a 5-year parts and repairs warranty, helping you keep it in working order. This is great news whether you’re planning on selling in a few years or will be renting your property out.
If you want to find out more about our air conditioning options and how they could benefit your property, get in touch or download our free aircon guide.