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Is the cost of replacement windows deterring you from getting new windows? While the upfront cost can seem a little daunting, it is important to remember that in the long run, replacing your windows is likely to save you money. This is because windows are one of the primary sources of heat loss in a home, and old windows lose heat remarkably faster than newer models. Your new replacement windows should lead to a dramatic reduction in your heating (and cooling) costs. New windows also add value to your Indianapolis home. When you sell, you can expect to recoup approximately 80% of the windows’ cost. Renewal by Andersen of Indianapolis offers a wide range of window selections that will increase your home’s efficiency and enhance its curb appeal.
So, just how much can you save by replacing your windows? Here’s a simple way to calculate your long-term savings, considering your energy savings and the increase in home value that come with replacing your windows.
Step 1: Figure out the up-front cost of your windows.
There are many types of energy-efficient windows on the market today, from standard models to more high-end, luxury lines. If you live in a very hot or cold climate, you may want to choose windows with triple-pane glass or low-e coating, both of which increase energy efficiency but also add to the upfront cost of the windows. Get a per-window cost estimate from your preferred window installation company, and multiply by the number of windows you have to get your total cost. For example, if you have 20 windows, you would calculate your total window cost by multiplying your per-window estimate by 20.
Step 2: Subtract the value your windows will add to your home.
Experts estimate that sellers can recoup about 80% of the cost of their windows when they sell their home. If you want to be more specific than this, you can call a realtor in your area and ask what this figure is locally. For the purposes of estimation, however, 80% is a pretty good figure. Calculate 80% of the original cost of your windows, and subtract this from their cost, since you’ll get it back when you sell the home.
Step 3: Calculate your energy savings.
In general, you can save at least 15% on energy by replacing your windows. For a more accurate estimate, check with your windows’ manufacturer. Look back at your past year’s energy bill. Total the bills across all 12 months to get your yearly energy cost. Multiply this by 0.15 to yield yearly energy savings.
Divide the net cost of your windows by yearly energy savings to calculate how many years it will take your windows to pay for themselves. For example, if you calculate that you’ll save $200 per year on energy, you can divide the cost of your windows by 200 to yield the number of years it will take you to break even on your investment. In all years after that, you will get to keep your energy savings in your pocket!
Replacement windows are an investment that will pay you back in time, both in terms of energy savings and when you sell your home. Contact Renewal by Andersen of Indianapolis to explore your options. Call for a free in-home consultation today.