It is no secret that home renovations have the potential to prove quite costly. Sadly, some such renovations do not spike the value of your home to the level necessary to spur a sale at an acceptable price point. However, some such renovations really do make the difference between a home that sits on the market for an extended period of time and one that generates considerable interest in the form of competitive bids. Let’s take a quick look at whether replacing your home windows before putting the property on the market is a prudent use of your hard-earned money.
Compared to other home renovations and improvements, new windows have a particularly high rate of return on your investment. This return can be elevated that much more with the selection of energy efficient windows. However, a small upgrade will not maximize window value. Opt for an upscale upgrade and your new windows’ added value will be well worth the investment. After all, people are looking for aesthetically pleasing, energy efficient windows that have all the latest features. In other words, go big or go home (no pun intended!).
A recent cost versus value report from Remodeling magazine reveals the replacement of old windows with those of the upscale vinyl variety generates an impressive return rate in excess of 73%. Opt for an upscale wood window replacement and you will enjoy a rate of return in excess of 70%. Perhaps more important is the fact that the study revealed the rate of return on brand new windows is significantly higher than the rate of return for other costly home renovations ranging from kitchen remodels to deck additions and beyond.
Based on the numbers detailed above, there is no reason to fear the prospect of investing in new home windows. The exact cost of your home window replacements ultimately hinge on the types of windows you choose to install. Energy efficiency, custom features, size and other factors matter a great deal. Furthermore, there will be an added expense for professional installation. However, shelling out hundreds of dollars per window is worth it once you consider the return as explained above.
If cost is your top concern, consider the fact that some window materials are more affordable than others. Fiberglass and wood tend to be more expensive compared to aluminum, vinyl, and composite windows. Opt for ornate or custom windows and you will likely pay one-quarter or one-half more than you would pay for windows composed of standard materials. Above all, it is important that you replace your current windows with materials of equal or greater value. Do not make the mistake of selecting a window material of lesser value as doing so has the potential to reduce your home’s market value.
Opt for an energy efficient window and you will have no shortage of people interested in your home once it is put on the market. According to the United States Department of Energy, nearly one-third of the typical home’s heating and cooling costs are tied to the quality of its windows. Spend for energy efficient windows and your home will prove significantly less expensive to heat and cool. Energy Star representatives state energy efficient windows have the potential to save homeowners upwards of $340 per year in terms of energy costs.
Once you consider the pros and cons of replacing home windows prior to putting the property up for sale, you will find replacement is worth every single penny. The investment you make in replacing your home windows will provide quite a substantial return. Even if your new home windows do not push your home’s selling price beyond your target figure, these beautiful new additions just might inspire interested parties to take a closer look at your property, ultimately heightening the chances of a profitable sale. Just be sure to perform your due diligence in terms of material and contractor research before moving forward with window replacement. In the market for new windows? Trust our installation experts with over 75 years of combined experience in our area. Contact us today for a free no obligation in-home estimate today!
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