Determining Your Budget
Replacing windows throughout
a home can be a big investment. But it's an investment with great payback (see Years of Great Payback below).You should establish your budget even before beginning your project. A Keith Cunningham
can give you a free ballpark estimate on how much it might cost to replace your windows. It's hard to provide an accurate
cost range as a house can vary greatly in the number and size of its windows. But here are some basic guidelines for average-sized
windows in an average home.
· Double- and triple-glazed
windows, or those filled with argon gas, increase energy savings but bump the cost to the higher end of the scale.
· If an existing window frame is rotted or
damaged in any way, the frame must be rebuilt. This can increase the cost and necessitate the use of new construction windows.
If You're Thinking of Using Credit·
Home equity lines of credit can be a good
resource for financing this type of project. In fact, in some cases, the interest on home equity lines of credit is tax-deductible.
Many bank websites have financing calculators you can use to figure out what your loan payments might be.
· The National Association of Remodelers' budgeting tips offer advice about how to determine what you can afford.
· With a HUD Energy Loan, you may be eligible for more financing on energy-efficient windows, up to the cost of the window replacement.
Other Budgeting Considerations·
establish your budget even before beginning your project. You want to be sure you have the money to comfortably afford either
paying for the project with cash or through credit.
· Make decisions based on value and quality, not just price. After all, this is your home
we're talking about.
· Think about having the work done in stages to spread out the financial impact. It is often easier to create a more
manageable budget by starting small and adding to the project at a later date. This will break the work into several jobs
instead of one large project. The down side of doing a remodel in stages is that you may end up paying more in the long run.
Rebates and Incentives
Often government or power company incentives
include additional tax deductions or rebates for making energy-saving improvements to your home. These can even further improve
the payback. Look for ENERGY STAR® qualified products—these are most likely to be approved for such programs.
Years of Great Payback
High-quality, energy-efficient replacement windows are annually demonstrated to be an excellent investment. According
to the 2007 Cost vs. Value Report (a combined effort by Remodeling magazine and REALTOR® magazine), homeowners can expect
to recoup an average of 80 percent for window replacement.
return on investment makes replacement windows an excellent buy. Particularly since today's energy-efficient windows and patio
doors also can:
- Reduce energy consumption.
- Reduce drafts and make your home more comfortable.
- Improve natural light and reduce glare.
- Help you
take advantage of solar heat gain in cold climates or minimize it in hot climates.
- Provide years of easy operation and weather-tight seals.
- Drastically minimize care and maintenance (particularly if the windows are made of vinyl or aluminum, or have fiberglass
- Reduce noise.
- Reduce window condensation.
- Protect draperies, carpets
and upholstery from fading or discoloring.