When you ask the question, “Will new windows really increase your property value?” there is only one right answer – a resounding, “Yes!”
Statistically, replacing old windows on your home will bring an ROI of around 85% of your expense, one of the highest value home improvements you can make! Compare this, for example, to adding a deck or replacing a roof – both of which will bring about a 75% ROI.
Below is a simple example to see how this would work in real life.
Calculating the Return on Investment
Let’s say you spend $10,000 replacing your old windows. Making this improvement will normally increase the value of your property by around $8,500 (an 85% return on investment). That is $8,500 more than you would have been able to sell your house for had you not installed the new windows. Simply put, you have increased the value of your property!
You might object, “Yes, but I spent $10,000, so I still come out behind!” But wait! There is far more to consider!
New, energy efficient windows will save about 12% on your annual utility costs. If your average monthly electric bill is $150, you pay $1,800 per year. 12% savings from $1,800 = $216 annually. If you replace your windows and live in your property for only three more years, you will have saved about $650 on utilities and lived more comfortably the whole while!
So – back to our example: $10,000 spent on new windows, minus $650 utility costs saved over three years = $9,350 net spent. Again, keeping in mind you will realize a gain of approximately $8,500 from the installation of your new windows, the “net cost” to you is $9,350 net expenditure minus $8,500 gained in value = $850. When you go to sell your home, you will have paid less than $300 per year (over three years) for a major home improvement!
Additional Benefits of Installing New Windows
By the numbers, your property is more valuable because of your new window installation in Arizona. But those are only numbers. You have gained far more value than that.
First of all, you should like the way your new windows look better than your old windows! You also invested in feeling more secure in your home, with stronger windows and better locks. Plus, more of the outside noise stays outdoors!
You have also bought peace of mind for when you do put your house on the market. How so? Because you will not have to worry about potential buyers being turned away because of older windows. Just the opposite! Potential buyers will appreciate that you made this important investment. It is one less thing they will have to worry about when purchasing your home.
Do the math! Installing new windows in your home is just plain smart! Schedule a consultation with Greco Roman Construction and Design to get a free estimate on replacement windows in Arizona.