Is the Cost of New Windows Worth Considering?

Is the Cost of New Windows Worth Considering?

 

When you have original windows in your home, the design might be pretty, but the results you receive might have a lot to be desired. 

Older glass doesn’t do a good job of keeping the heat in your home during the winter months. It also fails to stop it from coming inside during the summer. 

You might also have air leaks around your frames, cracks that must get addressed, and other unique issues that are killing your utility costs. 

The eventual expense can save you up to 20% on your utility bills, but does that make it an investment worth considering? 

How Many Windows Require Replacing?

If you have a damaged window, it makes sense to replace it. You’ll add more value to your property with that investment.

When age is your primary issue, you’ll need to determine what your eventual ROI will be when paying for the upgrades. 

Let’s say that you receive a quote of $8,000 to replace all of the windows in your home. Your monthly utility bill totals $200. That means you’d get a savings of about $40 per month once the work is completed. 

When you calculate the savings at your current utility rate, it will take 200 months to recover the initial expense. That means you’d still be in the red after 16 years!

That’s why installing new windows doesn’t make sense for some homeowners. You might have your mortgage paid off before your budget line gets back to the black. 

What About Equity Improvements with New Windows?

The other selling point for new windows is that the installation can add more equity to your home. This fact is true to a certain extent.

What you don’t often hear is the actual value percentage that you receive. In that $8,000 installation project, you’d recover about $4,000 of it in equity. That means you’d still need 100 months to have the work pay for itself.

That’s why knowing how to fix drafty windows is an essential skill, especially if you live in an older home.

Most windows need a little help with the caulking and seals to achieve a reasonable improvement in utility management. These materials provide elemental protection while reducing the risk of interior damage.

Another option to consider is the installation of a storm window. This product creates an air gap that serves as an insulating layer for your glass. It’ll reduce your utility loss without the added expense of installing new glass. 

Some homeowners might want new windows anyway because of the curb appeal or insulative qualities the product contains. If you want to secure your property, safety glass can prevent someone from smashing through to get your valuables.

The bottom line here is this: always do your math first. If the cost doesn’t make sense, don’t start chasing bad investments with more money. There are times when new windows are worth pursuing, but it is usually better to put that cash into a new kitchen or bathroom. 

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