Will replacement windows really increase the value of your home?
Does replacing windows add value to your home?
It's a question we get all the time at Gravina's. When am I going to get my money back for buying new windows for my home? The short answer is no one knows.
If you live in your home for the long haul you will get your investment back in many ways. Increased comfort, better energy savings, and bragging rights in the neighborhood with pretty new windows. But how do you know when they need to be replaced and if you do replace them will it add value to your home? I've read 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 enhance the value of your home by 20%. That's adding $40,000 to a $450,000 house. What? This website was exaggerating, but I did conclude that replacement windows do, in fact, increase the value to your home. Especially in the hot real estate market in Colorado.
If you put your home for sale and think windows won't add value to a home try getting an appraisal. You will see that indeed new windows add value, especially with a brand name window. People perceive value in better amenities for a reason; they're better than the rest. If you are looking for a home to buy and you walk into the identical home in the identical neighborhood and have to decide which one you want to buy, are you going to buy the home with the basic generic oven of the Viking range? (If the appliances are included, which most high-end homes are). Same with the windows. If the realtor puts "Marvin Windows" in the home selling details that will increase the perceived value of your home. Either way, you have more value in your home after replacing windows for more than that reason.
Replacing the windows have already increased the energy efficiency of the home, especially if it is an older home that has the original windows. Other ways replacement windows increase the value is apparent. New windows look better and add curb appeal. Another added value is noise reduction. Replacement windows add better sound reduction from outside noises. If you live on a busy street replacing your windows may improve the STC Rating by 50% or more.
There are plenty of benefits of replacement windows if you sell your home. If you decide to stay in your home for the long haul and you replaced your windows then YOU get to enjoy the added comfort, appearance and sound from them. Bottom line: Buyers love homes that are move-in ready, with updated modern amenities, and new windows will help you command a higher selling price. Selling or staying in your home will not be a bad deal at all!
Ok, so what are the energy benefits of window replacement?
On average, a house may lose around 30% of its heating energy through its windows. Often, the heat that is circulating through a home can be lost through 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-star 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.
Replacement Window ROI
If you spend $10,000 on replacement windows and decide to sell your home, you are likely to get about 70% of that back. It would be unreasonable to increase your home's price by $10,000 if you decide to sell. But you could tack on an extra $7000 to your selling price.
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% on your heating and cooling bill. That is $800 back in your pocket. Essentially, that is like saying that you will have repurchased your windows in 5 years by replacing your windows.
If your home has out dated windows, someone will want a discounted price for the home to put new windows. It is a better idea to buy replacement windows before you sell your home, so a potential buyer doesn't bid ridiculously low. For example, say your bathroom window needs to be replaced, and a potential buyer notices that. He or she may make an offer for $10,000 less than the asking price when actually, that window may only cost you $1,500. Plus, if you have recently replaced the windows in your home, it is much more appealing to a potential buyer.
So the answer is YES - replacement windows do add value to your house. They will add both monetary value and non-monetary value such as improving the energy efficiency and comfort, as well as the overall look and feel of your home!