Home Improvements Provide Sound Investment

According to national statistics, new home sales are down and existing home values have dropped. That makes home ownership a confusing investment. Should you buy, sell, or hold tight in your current home?A home is often the single largest investment for a person or family, so the importance of making good decisions as a homeowner can’t be overstated.Many Americans are choosing to stay in their current house and make improvements that enhance their home’s comfort and beauty. Others are investing in their homes in order to sell at the best price when the market improves.Replacing inefficient windows saves heating/cooling dollars for people who plan to stay in their homes. They also build the resale value of a home, no matter what the homeowner’s selling timeline may be. Craig Evanich, president of Renewal by Andersen, said current economic factors reinforce why replacement windows are a sound investment. “Heating prices remain at or near historic highs and average home prices have fallen back recently,” he explains. “Replacing windows is a smart home improvement option when you consider how it can address the challenges of both economic realities.”Saving Energy DollarsWhile energy prices aren’t increasing as much as they have in the past couple of years they still remain high. According to the Minnesota Department of Commerce, replacing poor performingwindows can save up to 40 percent of heating energy in winter alone. When you consider that ENERGY STAR® estimates the average American household spends $1,900 annually on energy bills, the dollars can quickly add up.The federal government is doing its part to promote the use of energy efficient windows. People who purchase and install qualifying windows and doors in 2006 or 2007 may be eligible toreceive a one-time credit of up to $500 on their federal income tax.Improvements in window quality have also helped promote energy savings in recent years. When your windows are fitted with high quality glass like the Low-E4™glass, that helps reflect heat back to its source. This glass is 64 percent more energy efficient than ordinary single pane windows and 35 percent more energy efficient than ordinary double pane windows in winter.Building Home ValueMore than one million homes are renovated or remodeled each year, so keeping homes up-to date is important. While some buyers are interested only in aesthetic improvements, most are also interested in improvements that offer day-to-day comfort. Replacement windows offer both.Convenience is a key feature of many new windows. Composite replacement windows are made with a special framing material. It is a combination of wood and a polymer material. By using composite window framing, there is no upkeep such as ongoing scraping and painting.As for home value, Remodeling Magazine estimates that a homeowner may recoup 83.7 percent of the cost of installing low maintenance replacement windows at resale. That means on an$8,000 window replacement project, homeowners may recoup $6,696 at the time of sale. Taken in tandem with energy savings and a possible tax credit, the overall value of replacement windows builds quickly.Finding The Right Replacement WindowsHomeowners shopping for quality windows look for long-term value over price. Choosing an installer based on low price could mean another replacement project just a few years down the road.Other tips include:• Look for the ENERGY STAR label. Products with the ENERGY STAR label can help you achieve substantial savings on heating and cooling costs.• Look for the National Fenestration Rating Council (NFRC) label. It means the window’s performance is certified and provides an “apples-to-apples” comparison between products.• Check the U-Factor (a window with a lower U-Factor has better insulation properties – in colder climates, a factor of 0.35 or lower is recommended).• Check with your local Better Business Bureau.•Read and understand the warranty.• Make sure windows are properly installed to provide long-term energy efficiency. “ENERGY STAR” is a registered trademark of the U.S. Environmental Protection Agency