When confronted with aging, leaky windows most homeowners intuitively know that replacing them will reduce their heating and cooling costs. What are often not so clear are the calculations to use when deciding if it makes financial sense to replace worn out windows with new vinyl windows? At Superior Home Improvements, we have been answering window replacement questions for our clients in the greater Toronto area since 1973. In this short article we will try to highlight a few of the reasons why vinyl windows can not only save you money, but in some circumstances they can actually make money for you.
New Vinyl Windows: Why They Make Financial Sense
- Energy Savings – This is the obvious one that can often justify window replacement on its own merits. While most wood windows start out life doing an excellent job of protecting your home from the elements, those same elements will eventually cause wood windows to start leaking. While homeowners in the Scarborough, Durham, Richmond Hill and Markham areas surrounding Toronto may not have to worry about termite damage, in many parts of the world this is another significant cause of failing window seals. A good rule of thumb is that one can expect 33% savings in heating and cooling costs when comparing old worn out wood windows to new, correctly installed vinyl windows.
- Increased Property Value – There are two parts to this benefit. Number one – your home or building will be worth more when it comes time to sell if you have installed high quality vinyl windows. ROI on window replacement is estimated to be about 70%, which makes window replacement one of the best home improvement investments you can do. Number two- even if you have no plans to sell your home in the near future, issues like condensation and staining of walls will be eliminated with properly installed high quality replacement vinyl windows.
- Tax savings – While tax laws and deductions vary by country and region, it makes good sense to check into the tax benefits of energy conserving home improvements. A reduction in your annual tax bill is money in the bank. Check with your tax accountant and contractor for advice on this subject before you begin the work.
In summary, while high quality window replacements are not cheap, there are real benefits to be gained with the timely installation of top of the line vinyl windows.