Buying an older style, run-down home to remodel and modernize is a popular option for many Americans. It’s a great way to get the house of your dreams without the massive price tag or to increase the value of your home if you want to sell it in the future.
You may have a tough time deciding which remodeling projects to prioritize, particularly if you have a long list that you’d like to achieve. As far as value is concerned, replacing your home’s old and dilapidated windows is possibly the best project you can embark on. Here are three reasons why replacing your windows is a smart investment in your home renovation venture.
1. Reduced Energy Bills
The price of energy in America has been steadily rising over the last decade. This continual increase isn’t likely to stop, with the International Energy Agency (IEA) predicting a steady climb in both energy demand and prices over the next decade as well. As a homeowner, reducing your home’s energy needs is a smart way to combat these rising costs.
Adequate insulation is the most effective way to reduce your home’s heating and cooling requirements and high energy bills. Most homes across the country now have well-insulated floors, walls, and ceilings, but windows remain a weak point in a home’s ability to retain and defect heat.
Replacing your old windows with highly rated energy-efficient windows can make a significant impact on your energy bills. In fact, replacing single-pane windows can net you hundreds of dollars in savings each year. If possible, choose windows that have been given an ENERGY STAR certification that’s endorsed by the Environmental protection Agency (EPA).
2. High Return on Investment
Return on investment (ROI) refers to the percentage of the cost of a remodeling project that you get back through increased home value. Different projects have varying ROI percentages, and you should account for this when you plan and budget each project on your to-do list.
Replacing a home’s windows is consistently viewed by experts as one of the projects with the best ROI. You can expect to regain around 85 percent of your costs as increased value if you decide to sell. This means that if you spend $10,000 on new windows, your home will increase in value by around $8,500.
Of course, this figure doesn’t take into account the money that will be recouped through savings on energy bills. The savings you’ll make annually will bump your ROI even higher after several years, making windows a higher ROI than other projects such as kitchen remodels, new doors, or landscaping.
3. Improved Aesthetics
The lift that new windows will give your home is not a benefit that you can place an exact monetary value on. However, the importance of creating a home that looks beautiful as well as being practical and functional is not something that can be overestimated. New windows can transform a home, giving it a contemporary look and making it feel lighter and brighter.
The improved aesthetics will also go a long way if you decide to sell. Attractive windows that complement and enhance both the interior and exterior of a home will make it more appealing to potential buyers. They can help your property stand out from the crowd, particularly in a competitive market, and increase your likelihood of a fast and financially attractive sale.
If you’d like to find out more about replacing the old windows in your home, contact the team at 1st Choice Windows & Siding. We can help you to decide which window style will best suit your home’s design, your individual style, and your budget.