Your home is an asset that has the potential to increase in value, subject to conditions of the overall economy and housing market. For most people, home value becomes a higher priority when they begin planning transactions that involve the property, such as selling the home or refinancing a home loan. As an individual homeowner, there are things you can do to increase the value of your home. Some of the quickest ways involve improvements that affect the quality and performance of your home. We think replacement windows and doors are a great way to start. Here are four reasons why replacement windows and doors in Irvine, CA can increase your home value:
- Current window glass and material technology is energy efficient
Energy efficiency means energy savings. Energy savings means lower cost outlay for monthly utility bills. A home that has current, quality window and door technology installed is an advantage to an owner. Over time, this efficiency puts money back into your own pocket. Potential buyers recognize this as well and are willing to pay more for the benefit of a home with these features.
- Enjoy the benefits now, increase your asking price later
New windows and doors are a quality point that is worth a lot to homeowners and should be reflected in your asking price when you put the home up for sale. Although you may not recover the full purchase price of new windows and doors in a proportional equity increase in value, you will gain back about 70% of the cost when you sell the place. Given a long enough time horizon between the time you update your windows and the time you put your house on the market, you will likely recoup even more as you experience lower energy bills each month. You’re playing the long game here.
- Discourage low purchase offers
Potential buyers will recognize when a home is in need of window and door upgrades. If they choose to make an offer on your home, they may make a note of the outdated windows and request a discount on your asking price. This request makes sense since they will need to handle the improvements themselves. However, it’s common for buyer requested discounts to exceed the actual costs of replacement, for reasons of time, effort, and inconvenience. So, if you have the time and inclination to do the upgrades yourself, it will likely help you maintain more of your home equity during a sales negotiation. Defense wins.
- Aesthetic appeal matters
Although new windows and doors can add to the attractiveness of your home, it’s hard to say with any certainty that your property’s value will increase as a result of architectural style and good taste. But people make decisions emotionally, and buying a home is no exception. When people strongly want something, they value it and will pay accordingly. Tip the scales in your favor.
If you’re in the market for replacement windows and doors in Irvine, CA, come in and see us at Cunningham Doors & Windows. You can find our showroom at 1940 E Edinger Ave, Santa Ana, CA 92705. Or call us at (714) 258-2500 to speak with one of our pros. We’re here to help.