Seattle Real Estate: Real Value of New Windows |
Windows -- do they add value to a house? New windows can do wonders for your home on many levels, from improving energy efficiency and curb appeal, to boosting resale value. So, should you invest in replacing your windows in order to sell your home?
Here's the reality. You can expect to pay between $11,000 - $18,000 to replace 10 standard-size windows. If every other home in your neighborhood has updated, energy efficient windows and your house doesn't, adding new windows will bring your home in line with the values in your area and make your house easier to sell -- it won't necessarily add value. However, if your neighbors do NOT have new windows, then replacing your old windows with new ones will add some value to your house, but not what you paid for them (77% - 79%, on average).
But there are other compelling reasons to replace your home's windows besides boosting resale value. If your windows are starting to degrade or rot or too much warm or cool air is escaping, it's time to replace them. The savings in utility costs is significant and can reduce your heating and cooling bills by 30%. This fact alone will be very attractive to a potential buyer! If you're thinking about selling soon -- or even several years down the road, there's additional incentive to replace your windows before the end of 2010. As part of the economic stimulus bill, you can receive a tax credit of up to $1,500 for making energy efficient improvements to your home (see attached link to the IRS site for details). bit.ly/SDqZP
Finally, there's the curb appeal factor. New windows can take years off the look of your home. A thirty year old home can almost instantly appear ten or even twenty years younger with the addition of new windows. Looking more appealing adds value in that buyers will be attracted to your property compared to homes without it. The more buyers who want to see your house, the greater the chance you'll get your offer and the sooner you get an offer from the time you come on market, the more likely it is you'll be happy with the terms.
Put all that together, and you've got value added!
- Ricklie Stone, Seattle Real Estate
