The Window Shoppe November 28, 2020 No Comment
WINDOW REPLACEMENT AND ITS EFFECT ON HOME VALUE
In today’s age buying a home is no longer considered to be a life-long decision, you may purchase a home today and sell it within a few years. But with that being said, how do you ensure that you profit from the sale. Although real estate prices do tend to increase with time, if you are unable to wait until the increase is significant enough, there are a few things that you can do to your home that will increase its resale value. One of them is changing the windows. Although usually not on the top of the home improvement list, window replacement can have quite an effect on your home resale value.
How Window Replacement Can Affect a Home’s Resale Value
According to CNBC, window replacement is among the top 10 improvements you can do to increase the value of your home, alongside kitchen and bathroom makeovers. In Florida, by replacing your house’s windows with hurricane impact windows, not only do you increase the home value, increase its safety, and potentially reduce home insurance costs, you significantly increase the value of your home and its future resale price. Although not a visual improvement, window replacement is a functionality update that will be sure to appease any future buyers.
Replacing windows is not something that is done frequently, nor is it a major change visually for the home, yet the return on investment (ROI) for upgraded windows significantly exceeds that of kitchen remodels. An average rate of investment, according to Remodeling magazine, is 73%. Meanwhile, the average return on investment for a kitchen remodel is an average of 60%. The costs of replacing windows are typically significantly lower than a kitchen remodel, but they provide a higher increase in value for your home and can increase your resale price. As previously mentioned, since window replacement is not something that is frequently done and it is not an upgrade in which taste and newest trends are considered, it will put many potential buyer’s minds at ease, as they will not have to worry about the window replacement for quite some time.
You can also increase your home’s value by opting in for energy-efficient windows. By opting in for energy-efficient windows, you will benefit from the decrease in energy costs, which is especially important in Florida, where air conditioning is a year-round ordeal. By investing in windows that potentially decrease the energy bill, you are adding value to the resale price of your home, as in the long run, it will save your potential buyer money monthly.
Whether you are preparing for the soon to come sale of your house, or perhaps you are future-proofing your home and wanting to add value to it in the long run, replacing your window could be one of the best things for the value of your home. It is not only energy efficient but also safer, especially in areas such as South and Central Florida where storms are a seasonal occurrence. When deciding on any renovations, consider looking into window and door replacements next.