Home Selling in Simsbury>Question Details

Seller1, Home Seller in Simsbury, CT

I have a house with electric heat and need to sell, do I replace the heating b4 listing or wait for an offer?

Asked by Seller1, Simsbury, CT Sat May 5, 2012

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With oil priced at over $4.00 a gallon, electric can actually be a cheaper alernative for many buyers! Whereas this may have turned away some individuals in the past, I no longer see this as a negative, and often re-educate my buyers on this fact.

Liza Nolan
Agent
Prudential Connecticut Realty
9R Hartford Avenue
Granby, CT 06035
cell: 203-623-6242
email: lizanolan@prudentialct.com
http://www.lizanolan.prudentialct.com
0 votes Thank Flag Link Sun May 6, 2012
Finally someone else has done the math to find it costs about the same or less than oil and could be easily converted to solar power. (house faces southwest
Flag Sun May 6, 2012
That's a great question... electric heat can be a turn off to buyers. I have a few question to ask about your house which would help answer your question. What is the best number to reach you? Or you can call my cell at 860-250-8284 -Matt
0 votes Thank Flag Link Sat May 5, 2012
I grew up in a house with electric heat and found that it did have several advantages over other heat sources. In my case, we had radiant heat, so there were no radiators or baseboard heaters to interfere with furniture placement. Additionally, a home with electric heat pays an overall lower rate to CL&P for their usage than a home with another heat fuel. Sometimes a buyer's concern with a particular type of heat comes from lack of information. Buyer preferences also often stem from familiarity. Large portions of the country-often in the south-heat with electricity. So, for people moving in from out of the area and with proper complete knowledge, some buyers will decide that electric heat is just fine with them.

My overall philosophy when counseling sellers about making renovations to their home for the express purpose of selling is to only make those changes or upgrades that will sell your house for a high enough price that the increase in value MORE than covers the cost of the upgrade. More often than not, a change will increase the value of the home but not by as much as you put into that change. If you spend $5000.00 changing something for the sale, but only sell the house for $3000.00 more, the change was not worthwhile.

I would hold off on replacing the heating system (unless it is so old that it would need to be replaced regardless of fuel type to function properly). As other agents have said, there are other options to overcoming a buyer's potential objection to electric than replacing the system up front.

Good luck with your sale and let us know if you have any other questions!
0 votes Thank Flag Link Sat May 5, 2012
It depends - is your home pretty energy efficient? If it is, then electric heat wouldn't be too expensive. You would know how much it costs. What is the cost to replace and what would you replace it with? If gas, I would say yes. If oil, I would say no.

In my opinion, I think you'll have an easier time selling it if you don't have electric heat. But you have to weigh the costs and what you're replacing it with.
0 votes Thank Flag Link Sat May 5, 2012
Take the option of replacing the electric system as a back-end option, rather than a front-end one. Your Buyers may enjoy the consistency of electric heat. If Buyers feel very strongly as to the removal of it, even a credit may suffice or let them handle things entirely. Good question, though!

David Brooke
Engel & Voelkers West Hartford
Licensed Real Estate Agent & Appraiser
103 Memoral Road, West Hartford CT
860-670-8081
david.brooke@engelvoelkers.com
0 votes Thank Flag Link Sat May 5, 2012
Hi Simsbury Seller,

Based on my experience with Simsbury buyers, most are going to frown upon having electric heat. I would advise pricing the home well compared to your competition in town that doesn't have electric for heat. If buyers find enough value in the house and is priced appropriately they will probably decide to either live with it or change it once they move in. Its best to get the house on now and not to miss this great spring market we are currently in! Kathleen Shippee, Coldwell Banker
0 votes Thank Flag Link Sat May 5, 2012
It depends. Do you have straight electric or do you have an energy efficient heat pump?

You can always offer up a credit at closing or offer something after the buyers inspections.
0 votes Thank Flag Link Sat May 5, 2012
Why would you replace the electric heat? There are many buyers who like electric heat. If a potential buyer likes your house, but does not want electric heat, they can explore options.

Good luck.

Tom Lynch
Associate Broker, Massachusetts, New York, and Connecticut
Berkshire Property Agents
12 Railroad Street
Great Barrington, Massachusetts 01230
http://www.berkshirepropertyagents.com/
0 votes Thank Flag Link Sat May 5, 2012
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