Will replacement windows really increase the value of your home?
I've been reading various sites and have come across many that claim window replacement increases the value of a home. One of the sites even said that replacing your windows could increase the value of your home by 20%. That's adding $40,000 to a $200,000 house. What? Clearly this website was exaggerating, but I did conclude that replacement windows do, in fact, add value to your home.
Windows are thermal holes. On average, a house may lose around 30% of its heating energy through its windows. Often times, the heat that is circulating through a home is lost by poor insulation and older, degraded windows and doors. Modern replacement windows are insulated and have specific energy ratings so the homeowner knows just how much insulation to expect out of their investment. The energy ratings take into account the window frame, panes of glass, and their ability to resist air leakage and prevent heat loss. When you buy energy efficient replacement windows, you immediately save money because the energy savings alone make your home more valuable.
I also decided to ask around the office to get the opinions of who I would call "window experts". Here is what our window experts say about the value of replacement windows.
- If you spend $10,000 on replacement windows and decide to sell your home, you are likely to get all of that back.
- Say you spend $4,000 on heating and cooling costs every year. If you replace your windows with more energy efficient window, you will likely save about 20% or more on your heating and cooling bill. That is money back in your pocket.
- If your home has out dated windows, it is likely someone will want a discounted price for the home in order to put new windows in. It is a better idea to buy replacement windows before you sell your home so a potential buyer doesn't bid ridiculously low. Plus, if you have recently replaced the windows in your home, it is much more appealing to a potential buyer.
Denver housing market leads the nation for appreciation
Denver is the top market since the housing boom last decade and since 1991.
Yes...you read that right. Metro Denver and the surrounding cities are leaving last decade’s housing bust in the rear view mirror faster than any other major metro area in the country.
Home prices are now 49.1 percent above the old high they reached in the first quarter of 2006. That is the biggest increase from the prior decade’s peak among any of the 100 metros tracked in a home price index run by the Federal Housing Finance Agency.
What does this mean? It means your home value is going up in right now. The equity in your home will allow you to make home improvements like windows, doors or siding, and you will be able to have the home of your dreams. If you should decide to sell your home you will get a premium in this market and get the money back anyway. If you stay you will never have to worry about windows again.
So the answer is YES-replacement windows really do add value to your house. They will add both monetary value and non-monetary value such as improving the overall look and feeling of your house, increased energy efficieny and reduced costs, and less worry if you decide to sell your home. Windows still have the highest ROI for home improvement projects.
See for yourself with the 2015 Cost Vs. Value Report form below.
- Tags: Increase Home Value