Cost vs. Value 2016
Hanley Wood is a real estate media firm focused on commercial and residential construction in North America. Every year Hanley Wood produces a report showing consumers what they can expect investing in remodeling their homes. The 2016 report was recently released and shows that replacement windows are one of the highest returns for your investment.
The study is very thorough and broke down statistics not only nationally but directly to the city of Portland’s surrounding areas. Replacing your windows is ranked as one of the best returns of 83.3% costs recouped. This outperformed a bathroom remodel (60.6%) and a kitchen remodel (56.6%). Unless, of course, you are referring to the windows in the bathroom or kitchen.
However, cost versus value isn’t the only research statistic to consider when looking at replacing windows. What about looking at expense versus investment? A good chunk of energy can be lost through your walls, ceiling, basement, and your old, drafty windows. In the winter, the warm air in your home will escape through inefficient windows. In the summer, with the expansion and contraction of inferior window materials like vinyl, the outside warm air will find its way into your cooler home. Renewal by Andersen wood-composite replacement windows are 45% more energy efficient in winter and 70% more efficient in summer.* The high performance Low-E4 glass used in our windows will not only make your home more energy efficient year round, but also reduce outside noise.
And energy efficiency isn’t the only benefit of replacing windows; it can also impact the resale value of your home, especially in older and historic homes. Buyers are less likely to be interested in older homes that have single pane glass windows for fear of high energy loss and costs. When replacing windows in older homes it is very important to choose windows that match the home’s historical aesthetics. After careful consideration and review of the technical specifications, Renewal by Andersen replacement windows have been approved by the Portland Historical Preservation Committee. If they’ve approved our windows, shouldn’t you?
Can you see where this home could receive 83% ROI?
Whether you are looking to improve the energy efficiency of your home or making improvements to sell your home faster, Hanley Wood reports that upscale window replacement is one of the best ways to invest in your home. Give us a call at 207-985-8465 so we can inspect your old, drafty windows and provide you a quote to get them replaced.
*Values are based on comparison of Renewal by Andersen double-hung insert window SHGC for clear dual panel glass non-metal frame default values from the 2006 and 2009 International Energy Conservation Code.