Unless you're in your “forever” home, you've probably considered how a certain upgrade or renovation could affect the resale value of your home. If you put your home on the market, will you get a return on your investment or are you just wasting money? It's a delicate balance, but some upgrades are worth the cost, even if you're not planning on selling any time soon. Replacing windows and siding have excellent resale value for your home, while also brightening up the overall look and usability of your home. Here's how.
How upgrades affect the resale value of your home
Before upgrading your home, you always want to consider how those improvements could affect the eventual selling price and long-term value of your home.
Let's take an easy example. Realtor.com experts note that adding an in-ground pool costs $36,000 to $65,000, depending on different factors. However, those same experts found that it may only increase your home's value by 7%. With a $500K home, you won't recoup the costs of even a baseline pool. In this example, while that may not be a wise investment, you'll also have to consider the tradeoff of a costly improvement versus quality of life. For some, it might be worth the expenditure if you would love having a pool. It's a balancing act, and an important one to do as a homeowner.
However, while a pool analogy is easy to understand, comparing a pool upgrade to replacing windows and siding doesn't seem as glamorous. So, let's break it down a little bit.
Replacing windows and siding cost versus resale value
According to Remodeling's 2018 Cost Vs. Value Report, replacing windows and siding can give you a great return on your investment when it comes to resale. When replacing windows, you'll likely recoup up to 74% of costs and 76% of costs for siding replacements. These are also some of the least expensive improvements that add curb appeal and value to your home.
- Enhanced security and safety
- Lower energy costs
- Better temperature control
- Easier use and access
Also, keep in mind that very few house upgrades come close to recouping 100% of your investment. In comparison, a major upscale kitchen remodel will only recoup 53% of your costs and a backyard patio will only recoup 47%.
What you can expect when replacing windows and siding with LAS
At LAS, we want to not only help you increase your property value but protect your investment as well. Our team is here to discuss all of your costs for replacing windows and siding, as well as improvements that are made for the Gulf South climate.
For example, our Polar Wall Plus! siding features foam-laminated backing. This absorbs impact shock from storm-propelled objects and protects your home against high winds. Replacing old, leaky windows with LAS' WeatherGard vinyl windows means you'll enjoy ENERGY STAR rated windows. These will help you save on heating and cooling bills every month and also help defer the cost of your home upgrades.
Improving your home with the LAS WeatherGard Vinyl Windows and Polar Wall Plus! siding will not only provide a generous return on your investment, but will showcase your home's curb appeal for you, your neighbors, and a potential buyer when that time comes. Now that's a smart investment!
Call us today for a home improvement quote for replacing windows and siding in Louisiana!
This blog was originally posted: Sep 30, 2014.