Showing posts with label cost vs value in home improvement. Show all posts
Showing posts with label cost vs value in home improvement. Show all posts

A Facelift for your Home with New Windows

If your windows are more than 15 years old, you may be putting up with draftiness, windows that stick in their frames, and skyrocketing energy bills. Energy-efficient windows would be a great improvement, but replacement can be very expensive, from $8,000-$15,000 or more for a typical home. For that reason, think long and hard before committing to new windows. In most cases you can get the same energy savings by investing $1,000 or so in insulation, sealing air leaks, and repairing your windows instead of replacing.

What Your Return on Investment Will Be
The range for energy-efficient window pricing is wide, but Energy Star-qualified windows start around $120 for a 36-by-72-inch, single-hung window and can go up to 10 times that. With labor, you’re looking at about $270-$800+ per window. Typically, windows at the low end of the price spectrum are less energy efficient.

But that doesn’t mean the numbers can’t make sense for you. For starters, window replacement is one of the best home remodeling projects in terms of investment return: For vinyl windows, you can recoup 71.2% of the project cost in added home value, according to Remodeling magazine’s annual Cost vs. Value Report. Based on the replacement projects outlined in Cost vs. Value that use vinyl windows, that’s a value add of about $7,000-$9,300. Plus, if you choose windows that qualify for the federal tax credit, you can effectively lop $200 off the purchase price for windows put into service if installed before Dec. 31, 2013.

You’re also likely to see modest savings on your energy bill. In general, you’ll save $126-$465 a year if single-pane windows in a 2,000 sq. ft. house are replaced with tax-credit-eligible windows, according to the Efficient Windows Collaborative, a coalition of government agencies, research organizations, and manufacturers that promotes efficient window technology.

Keep in mind, though, that the savings can vary widely by climate, local energy costs, and the energy efficiency of both the windows purchased and the windows being replaced. Finally, you may qualify for low-interest loans or other incentives offered by your local utility that can sweeten the deal, although fewer of these are becoming available.

Price vs. Energy Efficiency
The most efficient windows on the market are usually the most expensive, but it’s not necessary to buy the highest-end products to realize utility bill savings or improve comfort and aesthetics. So how do you choose the most energy-efficient models for the price?
Thanks to Energy Star, you really don’t have to. Energy Star labels will tell you whether a window performs well in your climate based on ratings from the National Fenestration Rating Council.

The Language of Windows
It’s also helpful to familiarize yourself with terms that appear on many window labels:
Glazing is simply the glass used in the window. The number of layers of glazing (single, double, or triple) doesn’t necessarily equal greater efficiency; the presence or absence of the other items in this list affects a window’s total energy performance. Glazing coatings can substantially affect a window’s U-factor, or degree of insulation against the outdoors.
Low-E stands for low emissivity, the window’s ability to reflect rather than absorb heat when coated with a thin metallic substance. Low-E coatings add up to 10% to the price of a window.
If your windows are in relatively good shape but you’d like better insulation, you can buy and apply Low-E films to your windows. They’re effective, but not as much as those put between glazing layers during manufacturing. Look for the NFRC rating on these films. Low-E films start at about $0.50/sq. ft., but you may want to check into the cost of having them professionally installed for large or complicated applications.
Gas fills typically consist of argon or krypton gas sandwiched between glazing layers to improve insulation and slow heat transfer. They often won’t work at high altitudes because differences in air pressure cause them to leak out.
Spacers separate sheets of glass in a window to improve insulating quality; the design and material are important to prevent condensation and heat loss.
Frame materials include vinyl, wood, aluminum, fiberglass, or a combination of those. They each have different strengths: Vinyl windows are good insulators and are easy to maintain but contract and expand with temperature changes, affecting the window’s air leakage; wood offers a classic look but is similarly affected by moisture changes and needs regular maintenance; fiberglass is very stable and low-maintenance but can be expensive; and aluminum is lightweight, stable, and a good sound proofer but is a rapid conductor of heat, making it a drain on energy efficiency.
 
Source: What You Need to Know About Buying Energy-Efficient Windows By: Karin Beuerlein
Read more: http://www.houselogic.com/home-advice/windows-doors/replace-old-windows-with-energy-efficient-models/#ixzz2iZZcAddZ Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®  

Repair, Replace, Enjoy! Time for Spring Home Improvements:


Besides cleaning closets and planting flowers and cool-weather vegetables, spring should involve scrutinizing the condition of a house following the rough winter. Repairs and replacements won’t just help you enjoy your property more; it will also keep energy costs down as hot weather rolls in.While most home owners need to prioritize costs, these 10 improvements are at the top of many contractors’ lists. Some of them are even more affordable than ever before, thanks to rebates from local communities, utility companies, and the federal government.
 
1. Replace windows
If your home felt drafty this past winter and you have single-pane windows, there’s a good chance those were one of the culprits. But replacing them all can be costly — $400 to $500 per window, plus $100 to $150 for installation, according to home improvement expert Tom Kraeutler of The Money Pit. Whether that’s the place to spend dollars should depend on how long you plan to stay put or what houses listed in their neighborhood offer if you’re planning on selling. “If you’re the last ones with old, rotting-wood windows, that negative may affect buyer attention,” Kraeutler says. This year’s “Cost vs. Value” report from Remodeling magazine pegs the payback for vinyl windows at 71.2% and for wood windows at a similar 73.3%. Gradually replacing windows in any room that is currently being remodeled is a great way to start and a bit less cost prohibitive than doing them all at once.
2. Install a new heating system and change filters
If a your furnace and boiler were on their last legs this past winter, it may be time to install a new one, or at least provide buyers with a credit toward new equipment if you plan to sell. Any choice should carry an EnergyStar label for best results. Existing systems still in good condition should have filters checked monthly and replaced when dark and clogged, a DIY project.

3. Clean air conditioning units
Before summer temperatures rise and HVAC pros are swamped, clean coils and change filters so your system doesn’t have to work as hard. You may also consider having drain lines cleaned, so moisture is eliminated.

4. Install more insulation
A home’s first line of defense to stop cold or hot air — depending on the season — should be the attic, according to most contractors. An energy audit can determine how much more is needed, if they already have some.
 
5. Switch out inefficient appliances
Sometimes appliances are no longer smart to repair. The determining factors for that should be their age and the cost of repair versus replacement. Here, too, top choices carry an EnergyStar label. If you need to replace most of their kitchen equipment and have a limited budget or plan to move, prioritize and first switch out the range, followed by the refrigerator, dishwasher, and microwave — in that order.

6. Repair or replace roofs, gutters, and downspouts
If you've seen moisture stains on your ceilings from recent rains, make sure you have your roof inspected for leaks before the damage gets worse. Have gutters and downspouts cleaned now so that water can flow through them. Gutter covers can be helpful but often don’t eliminate all debris.

7. Paint
Damage often shows up at this time of year, especially in climates where there’s been a lot of snow melting or winter rains, use the time to reassess your color choice for better curb appeal. Even changing the front door’s color can make a difference.

8. Prune trees
Cutting limbs that may have been damaged during winter and that might fall on a roof or allow squirrels to enter a house is smart, and it can be a cost savings later on. Called “thinning out,” this method gets excess foliage trimmed to allow more natural light into a house. A certified arborist will know the best ways to do this without removing too much of a canopy, which is useful for privacy and shade.

9. Mulch plantings
Along with fall, spring is a key mulch time. Mulch helps plants thrive by holding back weeds, retaining moisture so soil doesn’t dry out, and adding a tidy look, Glassman says. Use bark, shredded fir, leaves, straw, or grass clippings.

10. Replace light bulbs
When it comes to artificial light, most contractors recommend switching burned-out bulbs to LEDs, which last longer than incandescents, consume less energy, and have come down in price — now often just $10. Quality has improved, too, and they’re dimmable and available in colors.

Source:Realtor Magazine

Biggest Return on Investment for Homeowners?

Homeowners looking for the most return on their investment when it comes to remodeling should consider exterior replacement projects. According to the 2013 Remodeling Cost vs. Value Report, REALTORS® rated exterior projects among the most valuable home improvement projects. “REALTORS® know that curb appeal projects offer great bang for your buck, because a home’s exterior is the first thing potential buyers see,” says National Association of REALTORS® President Gary Thomas. “Projects such as siding, window and door replacements can recoup more than 70 percent of their cost at resale. REALTORS® know what home features are important to buyers in your area and can provide helpful insights when considering remodeling projects.”

Results of the report are summarized on NAR’s consumer website HouseLogic.com, which provides information on dozens of remodeling projects, from kitchens and baths to siding replacements, including the recouped value of the project based on a national average. According to the Cost vs. Value Report, REALTORS® judged a steel entry door replacement as the project expected to return the most money, with an estimated 85.6 percent of costs recouped upon resale. The steel entry door replacement is the least expensive project in the report, costing little more than $1,100 on average. A majority of the top 10 most cost-effective projects nationally in terms of value recouped are exterior replacement projects; all of these are estimated to recoup more than 71 percent of costs.

Three different siding replacement projects landed in the top 10, including fiber cement siding, expected to return 79.3 percent of costs, vinyl siding, expected to return 72.9 percent of costs, and foam backed vinyl, expected to return 71.8 percent of costs. Two additional door replacements were also among the top exterior replacement projects. The mid-range and upscale garage door replacement were both expected to return more than 75 percent of costs.

According to the report, two interior remodeling projects in particular can recoup substantial value at resale. A minor kitchen remodel is ranked fifth and is expected to return 75.4 percent of costs. Nationally, the average cost for the project is just under $19,000. The second interior remodeling project in the top 10 is the attic bedroom, which landed at number eight and tied with the vinyl siding replacement with 72.9 percent of costs recouped. With an average national cost of just under $48,000, the attic project adds a bedroom and bathroom within a home’s existing footprint.

The improvement project projected to return the least is the home office remodel, estimated to recoup less than 44 percent. The 2013 Remodeling Cost vs. Value Report compares construction costs with resale values for 35 mid-range and upscale remodeling projects comprising additions, remodels and replacements in 81 markets across the country. Data are grouped in nine U.S. regions, following the divisions established by the U.S. Census Bureau.

This is the 15th consecutive year that the report, which is produced by Remodeling magazine publisher Hanley Wood, LLC, was completed in cooperation with NAR. REALTORS® provided their insights into local markets and buyer home preferences within those markets. The 2013 national average cost-to-value ratio rose to 60.6 percent, ending a six-year decline. The ratio represents nearly a three-point improvement over 2011-2012. Lower construction costs are the principal factor in the upturn, especially when measured against stabilizing house values. In addition, the cost-to-value ratio improved nationally for every project in this year’s report and is higher than it was two years ago for both remodeling and replacement projects.

 “A REALTOR® is the best resource for helping homeowners decide what improvement projects will provide the most upon resale in their market,” says Thomas. “Each neighborhood is different, and the desirability and resale value of a particular remodeling project varies depending on where you live. When making a home remodeling decision, resale value is just one factor that homeowners should take into consideration. Consult a Realtor® to make sure you are making the best decision.”

Most regions followed the national trends; however the Pacific region, consisting of Alaska, California, Hawaii, Oregon and Washington, once again led the nation with an average cost-value ratio of 71.2 percent, due mainly to strong resale values. The next best performing regions were West South Central, South Atlantic, and East South Central. These regions attribute their high ranking to construction costs that were lowest in the country. While still remaining below the national average, most remaining regions showed strong improvement over last year. These are Mountain, New England, East North Central, Middle Atlantic, and West North Central.

To read the full project descriptions and access national and regional project data, visit www.costvsvalue.com “Cost vs. Value” is a registered trademark of Hanley Wood, LLC. For more information, visit www.realtor.org