Do new double pane windows increase value?

[xm72mhd]

So nobody knows for sure based on market data, if upgraded windows add value?

 

[Mr Rex]

Edd, my market data suggests about 50% of the cost of the new window units (excluding removal/install costs), which when you factor in that the other houses do have windows of some sort, makes perfect sense to me.

 

[Robert Hronek]

I know that siding does not increase the value equal to its cost and I would say that windows would be the same. Vinyl siding costs from $10,000 to $20,000 and I think you are lucky to get back 25-50% of the investment. Windows would be the same.

 

[Mike Garrett RAA]

I know that siding does not increase the value equal to its cost and I would say that windows would be the same. Vinyl siding costs from $10,000 to $20,000 and I think you are lucky to get back 25-50% of the investment. Windows would be the same.

And the basis of your assumption is?

 

[Mark K]

Depends on the house and the area.

There are some subdivisions in this area where I can prove a 3-4% increase in sales prices due only to windows. 40-50 yr. old neighborhood where the original windows were single pane, metal frame sliders or double hung units that usually had ice build-up on the interior faces in cold weather. New vinyl frame, thermopane units increased the value by about 50% of the cost of the windows.

Other areas, new windows seem to have little effect on sales prices.

So, as usual in the appraisal world, the answer seems to be "it depends".

 

[Tim Hicks (Texas)]

I know that siding does not increase the value equal to its cost and I would say that windows would be the same. Vinyl siding costs from $10,000 to $20,000 and I think you are lucky to get back 25-50% of the investment. Windows would be the same.

That is the tin men costs. You will find that you can get the siding 40-50% cheaper if you actually shop around. But then again, the cost still does not come back dollar for dollar. The market dictates what the market dictates. New windows are the same. I would certainly pay a little more for a home with new windows, but not if the market did not support it.

I will never forget in the early 1990's when I let the Alcon salesman come out to give me his estimate for siding on by 75% brick, tract home which amounted to eaves, trim and part of the back of the home. I was a new appraiser and curious because I could never find support for any adjustment for vinyl siding upgrades on these type of homes. Well, the sales pitch included how the siding would increase the value of my home more than the $12,000 cost and I asked him for proof. It ended up with him telling me he made more than me a year and he could afford a Corvette compared to my lowly Ford Ranger. He did not close the sale. But, he did call me a few years later to ask about being an appraiser??? I called a small company in the phone book and they came out and gave me an estimate of $3,800. I almost purchased on price alone, but did not.

 

[JoTetherow]

new window get rid of the lead

there is a lot of old standing ( and some falling down) stock of homes in my area. the city of rochester has the lead paint nazis out there trying to get the lead out of the homes so the kids have a chance of getting to aldulthood with a brain cell or 2 left.

in income properties, new windows are a big thing since a lot of the lead comes from old painted windows. an investor in my area definately pays for new windows. dont know how much because i try to compare apples to apples so i look for comparables that already have new windows.

 

[Wade Liebendorfer]

Windows

Sure new windows increase the value of a home. They are one of the few improvements that actually pay the homeowner back. The savings from new windows versus old windows can be substantial.

Some home improvement companies will charge 10K to replace windows in a 1000 sf rambler and some will charge less than half of that. Window quality does vary, so that can be considered. I will typically adjust for thermal windows on a fraction of the cost, becuase I do think that the market recognizes that new windows have benefit.

 

[Robert Hronek]

And the basis of your assumption is?

Mike I see it in the market data in different neighborhoods. I am not talking about homes that are in poor condition that are in need of repair but rather homes that the owner has decided to side for other reasons.

About 3-4 years ago I picked up a new lender client that worked with a siding company. I did 2 appraisals for them before I got fired for not being a skippy. The first one was in a tract subdivision of 20-25 year old homes. The home was well maintained but no major remodeling other than the siding. Had 3 sales with siding, 2 of which were similar condition the 3rd also had a new kitchen. The lender was looking for a dollar for dollar increase of the prior sale of the subject that had occured 1 year prior. The sales data showed that the new siding was about a 50% recoup of investment.

In 2005 2 of my neighbors sold their homes. Same floor plans. One of the homes had vinyl siding and newer wood floor in the kitchen. Well maintained home. The other home the exterior was recently repainted, it had new vinyl flooring in the kitchen, bath, and foyer. The master shower had also been retiled. This home sold faster and for slightly more. They were on the market at the same time. Both these homes sold for $5,000 more than a house on the same street that a month earlier that didn't have the upgrades but was well maintained. All the homes had similr GLA, floorplans, baths, and garage counts. In this case I estimate that the siding recouped 1/3 of the $15,000 cost 2-3 years earlier. I had been in the two homes many times so I was quite aware of the condition of each.

 

[Mike Kennedy]

"it depends" is the ONLY credible answer; demonstrated by a LOCAL market, researched and defined by a LOCAL, geo-competent Appraiser. (ducks)