What is the residual value of replacing your windows?
In this barren real estate market, many people are said to be doing home improvements instead of buying a new home. The idea is to put more equity in to an existing home that may have depreciated simply due to the economy. Like any investment, one should consider the payback they can expect on their outlay.
There are only so many basic ways to improve any home. You can improve on siding, doors, windows (of course), additions, swimming pools, etc. Each method of improving your home has a payback, which varies according to the part of the US you live in. In New England, it turns out that windows are one of the top things to do when considering just what to do to improve your home. This is not without debate, however. Some people feel that potential home buyers overlook the windows. And, it is intuitive to Suntech, that the entryway door is another simple and cost effective method of improving on your home’s equity. In fact, many websites rank the entryway door as one of the number 1 ways to increase the value of your home.
Many people sling internet data at us these days. The internet is clogged with spam and surveys. What’s missing are people who can compile the data and explain why it is the way it is. Why does an entryway door provide such a good return on investment? It’s the very first feature people see when they look at your home. In my opinion, it’s that simple. Along with entryway doors, there are windows (of course). Windows are in almost every single structure in the world, since the beginning of time. Doors and windows are simply not optional. Even mud huts have windows and doors.
Furthermore, in 2010, wood windows eclipsed vinyl windows on the return in investment. The very next year, it appears that Vinyl was a better investment. However, wood windows as it turns out, last longer than vinyl, which is an unproven material to work with. Vinyl windows simply don’t go back far enough to have proven to last as long as wood, and the first generation of vinyl windows are all being replaced now. So what is the residual value of replacing wooden windows? About 74%
Some useful links / sources of information:
Payback (2011-2012)
