Do windows increase home value?
Windows are a big part of a home. They control light, heat, noise andair circulations. Regardless of whether or not the windows increase the overall value of your home,many times they are just a good investment because they keep your home cooler, warmer, or quieter and they let light in your home. As far as I'm concerned, I'd consider replace or fixing windows for these reasons alone. But before you go out and buy windows, let's talk. Let's go over windows in regards to home value, refinancing, buying or selling your home.
Refinancing your home
If you are planing to refinance your home and you are trying to decide if windows are a good investment and you are planning to use your money for the windows or other improvements, I'd improvement the kitchen and bathrooms first. (Make sure your home is well cared for with no other needed repairs before anything). Most of the time, these items have the highest probability to increase the value of your home. But for long term investments and saving on your comfort level, heating and cooling bills and reducing the road noise, I'd say you can't go wrong, if you are planning on staying in your home.
If your are buying a home
Look for at least double pane vinyl windows. Windows vary in quality and price. I've spoke to home owners that tell me that windows have made a significant difference in their heating and cooling bill and the road noise from entering their home. Look at the windows and be sure they are not foggy or that there is no mist build up on the inside of the windows. This means that the seal is broken and that the window will have to be replaced or fixed. New windows may increase the value of the home, but most of the time the windows will be reviewed and valued with all of the other improvements and given a total overall value. In other words, it will be difficult to isolate the cost of the windows and how much money they will bring, but the appraiser will locate homes with similar overall level of improvements and value everything compared to the market. Be sure to look at the overall quality of the rest of your homes and the windows. They are easy to overlook.
If you are selling your home
If you've already installed windows, good for you. This may help sell your home. But if you have not installed the windows, I'd recommend that you DO NOT install windows if you are planing to sell your home, unless the windows are broken or the seal is broken. The cost of windows is significant investment. If you plan on staying in the home for a while, I'd considered it, but since you are selling, invest your money in other improvements that offer a greater chance of selling your home or that offer a greater chance of getting your money back out of your home when you sell.
Egress/ingress windows
If you decide to install windows, make sure that they are the proper size and they allow egress/ingress from the home. This means that absolutely for sure, you want windows that are to code. This is because in many counties, the size of the windows and the location of the windows will dictate if the room can be classified as the bedoom or not and is critically important for safety reasons.
Windows in basement
For windows in basement, you'll want to be sure that there is proper egress/ingress for the windows and that they meet local code. In general, you'll want to be able to get out of the windows or an adult get in the windows from the outside in case there is a fire or something.
Do basement windows increase the value of your home?
I'd say when refinancing, the basement windows will not add signficant value. This is because the above grade or above ground sections of the home trump the bedrooms in the basement. In some cases, you may see a slight increase in value, but in most cases, you will not.
When selling your home, basement windows may not increase the value, but they may make your home sell for more. Many home owners regonize the value of egress windows in the basement and feel that they increase the value.
When buying homes, look for basements that offer egresss windows as a bonus. While there may not be a big value difference, you'll feel more confortable sleeping in a room that you know that you can get out of if you need to. And it may help you sell your home later. That said, many home owners do not like egress windows in the basement, because it will make it easier for burgulars to get into your home.
|