With the real estate market currently booming, this may be the perfect time to sell your house. That said, some renovations may be necessary in order to maximize your home’s curb appeal. Certain upgrades can even increase the value of your home considerably. For example, replacing your windows is a renovation that practically pays for itself! According to the Appraisal Institute of Canada, you could recover 50% to 75% of the renovation costs for this category of renovations when you sell your house.
Condition of your windows
Potential buyers are interested mainly in the structural aspects of a house. Buyers—as well as the building inspectors they may rely on—are quick to spot windows that are improperly insulated or in poor condition. When they visit a house, conscientious realtors are also in the habit of opening the windows to ensure the hardware is in working order. Inspectors can also detect the exact age of windows, whether they are still energy-efficient and whether their weather seal is intact, and they may recommend replacing them based on their observations. For prospective new owners, replacing the windows is a critical renovation that has to be done immediately, and they will try to incorporate the reno costs into the price they offer.
Since many buyers are looking for a home that’s move-in ready, installing new windows prior to the sale puts you at an advantage. Keep all contracts, invoices and warranties on work performed so that you can show them to prospective buyers. Check also at the time of purchase to ensure that the warranty is transferable when your house sells. New windows with a lifetime warranty are sure to be strong selling point!
Bright, airy rooms
The current trend is toward large windows and rooms bathed in natural light. Light is a critical factor for potential buyers. Unfortunately, the original windows in many older homes are generally smaller. Replacing the original windows with larger windows to let in more light not only makes a room brighter, it makes it seem larger. Larger windows make a big impression on potential buyers who are willing to spend more to get a living space that is bright and airy.
One tip: take time to properly clean your windows before showing your house. Clean windows let in more natural light, eliminate distractions and maximize the appeal of your windows to ensure that your visitors will be wowed.
Energy-efficient windows
Consumers are increasingly concerned about the environment and, as a result, they want homes with energy-efficient windows. Besides reducing your environmental impact, energy-efficient windows help to reduce your power bill, since windows account for 25% of the heat loss in a typical home. Installation of energy-efficient windows also tops the list of the most cost-effective eco-friendly renovations.
In the end, new windows create a major advantage when it comes to maximizing the value of your property. That said, it’s also important to keep in mind that substandard work or an unattractive end product can dramatically affect the recoverable value of renovations. This makes it important to work with professionals to ensure that you get the most value out of your property.
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