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®  

Going Green in Housing

Green building is moving into the mainstream. About one in five homes — or 20 percent — built last year were “green,” according to a study by McGraw Hill Construction. What’s more, researchers predict green homes to make up 29 percent and 38 percent of new homes by 2016.

Energy efficient home features are becoming nearly standard practice among some homebuilders nowadays. Many builders see “green” as a way to compete against existing homes, boasting it as a way for home owners to save money on utility bills.

Even in a down economy, home owners have showed a willingness to spend more for green features, according to a separate McGraw-Hill Construction study.

While the thirst for “green” homes is growing, buyers will have to pay more for it.

Nexus Energy Homes COO Bruce McIntosh told The Wall Street Journal that green homes cost about 5 to 10 percent more than homes that aren’t “green.” However, McIntosh notes, material and construction costs for energy-efficient building are on the decline, which may help open the doors more to green building.
Also, home owners hope that green home features will lead to a higher sales price when they go to sell too.

Studies have shown that home owners can see higher sales prices when they go to sell if they’re home boasts green features. For example, last year, researchers from the University of California found that green-certified California homes netted 9 percent more than a comparable house without a green label. Green-certified single-family homes sold for $34,800 more than comparable non-green certified homes, according to the study.

Source:Realtor Magazine

n the wake of a month where consumers’ confidence in home prices remained strong even as mortgage rates leaped, more Americans may rush to buy in order to capitalize on still favorable market conditions, Fannie Mae’s chief economist said about the results of Fannie Mae’s June 2013 National Housing Survey - See more at: http://www.inman.com/2013/07/08/rising-mortgage-rates-could-push-up-housing-demand/#sthash.RHLzIW1U.dpuf

Rising mortgage rates could push up housing demand

Tight inventory may limit impact on sales

Inman News Staff Writer

share this article

Jul 8, 2013

Growth in real estate image via Shutterstock.

In the wake of a month where consumers’ confidence in home prices remained strong even as mortgage rates leaped, more Americans may rush to buy in order to capitalize on still favorable market conditions, Fannie Mae’s chief economist said about the results of Fannie Mae’s June 2013 National Housing Survey.
“The spike in mortgage rate expectations this month seems to have had an impact on a number of the survey’s indicators and may increase housing activity in the near term by driving urgency to buy,” said Doug Duncan, senior vice president and chief economist at Fannie Mae.
“Consumers may recognize that today’s still favorable mortgage rates and homeownership affordability levels will recede over time. Given rising home and rental price expectations and improving personal financial attitudes, more prospective homebuyers may be deciding that now is the time to get off the fence.”
With the average rate on a 30-year fixed-rate mortgage rising by well over one percentage point from early May to the end of June, the share of consumers who believed mortgage rates will increase jumped by 11 percentage points to a record high of 57 percent in June, according to Fannie Mae’s survey.
But despite growing belief in a development that would chip away at affordability, the survey still found that the share of respondents who believed home prices will go up in the next year hit a survey high of 57 percent, while those who believed that home prices would go down remained flat at a survey low of 7 percent.
Still, the average 12-month home price change expectation fell marginally from last month’s survey high of 3.9 percent to 3.8 percent, Fannie Mae reported.

Article continues below

Advertise with Inman

Likely reflecting a recognition that rising mortgage rates may erode affordability, the share of survey respondents who believe that now is a good time to buy fell from 76 to 72 percent, while the share who say now is a good time to sell dropped from 40 to 36 percent.
Though increasing rates could spur some buyers to pull the trigger, today’s inventory shortage could continue to hold back home sales, Trulia Chief Economist Jed Kolko recently tweeted.
“People might want to buy before rates rise, but tight inventory makes it hard to find what you want fast,” he said.

- See more at: http://www.inman.com/2013/07/08/rising-mortgage-rates-could-push-up-housing-demand/#sthash.RHLzIW1U.dpuf

Rising mortgage rates could push up housing demand

Tight inventory may limit impact on sales

Inman News Staff Writer

share this article

Jul 8, 2013

Growth in real estate image via Shutterstock.

In the wake of a month where consumers’ confidence in home prices remained strong even as mortgage rates leaped, more Americans may rush to buy in order to capitalize on still favorable market conditions, Fannie Mae’s chief economist said about the results of Fannie Mae’s June 2013 National Housing Survey.
“The spike in mortgage rate expectations this month seems to have had an impact on a number of the survey’s indicators and may increase housing activity in the near term by driving urgency to buy,” said Doug Duncan, senior vice president and chief economist at Fannie Mae.
“Consumers may recognize that today’s still favorable mortgage rates and homeownership affordability levels will recede over time. Given rising home and rental price expectations and improving personal financial attitudes, more prospective homebuyers may be deciding that now is the time to get off the fence.”
With the average rate on a 30-year fixed-rate mortgage rising by well over one percentage point from early May to the end of June, the share of consumers who believed mortgage rates will increase jumped by 11 percentage points to a record high of 57 percent in June, according to Fannie Mae’s survey.
But despite growing belief in a development that would chip away at affordability, the survey still found that the share of respondents who believed home prices will go up in the next year hit a survey high of 57 percent, while those who believed that home prices would go down remained flat at a survey low of 7 percent.
Still, the average 12-month home price change expectation fell marginally from last month’s survey high of 3.9 percent to 3.8 percent, Fannie Mae reported.

Article continues below

Advertise with Inman

Likely reflecting a recognition that rising mortgage rates may erode affordability, the share of survey respondents who believe that now is a good time to buy fell from 76 to 72 percent, while the share who say now is a good time to sell dropped from 40 to 36 percent.
Though increasing rates could spur some buyers to pull the trigger, today’s inventory shortage could continue to hold back home sales, Trulia Chief Economist Jed Kolko recently tweeted.
“People might want to buy before rates rise, but tight inventory makes it hard to find what you want fast,” he said.

- See more at: http://www.inman.com/2013/07/08/rising-mortgage-rates-could-push-up-housing-demand/#sthash.RHLzIW1U.dpuf

Rising mortgage rates could push up housing demand

Tight inventory may limit impact on sales

Inman News Staff Writer

share this article

Jul 8, 2013

Growth in real estate image via Shutterstock.

In the wake of a month where consumers’ confidence in home prices remained strong even as mortgage rates leaped, more Americans may rush to buy in order to capitalize on still favorable market conditions, Fannie Mae’s chief economist said about the results of Fannie Mae’s June 2013 National Housing Survey.
“The spike in mortgage rate expectations this month seems to have had an impact on a number of the survey’s indicators and may increase housing activity in the near term by driving urgency to buy,” said Doug Duncan, senior vice president and chief economist at Fannie Mae.
“Consumers may recognize that today’s still favorable mortgage rates and homeownership affordability levels will recede over time. Given rising home and rental price expectations and improving personal financial attitudes, more prospective homebuyers may be deciding that now is the time to get off the fence.”
With the average rate on a 30-year fixed-rate mortgage rising by well over one percentage point from early May to the end of June, the share of consumers who believed mortgage rates will increase jumped by 11 percentage points to a record high of 57 percent in June, according to Fannie Mae’s survey.
But despite growing belief in a development that would chip away at affordability, the survey still found that the share of respondents who believed home prices will go up in the next year hit a survey high of 57 percent, while those who believed that home prices would go down remained flat at a survey low of 7 percent.
Still, the average 12-month home price change expectation fell marginally from last month’s survey high of 3.9 percent to 3.8 percent, Fannie Mae reported.

Article continues below

Advertise with Inman

Likely reflecting a recognition that rising mortgage rates may erode affordability, the share of survey respondents who believe that now is a good time to buy fell from 76 to 72 percent, while the share who say now is a good time to sell dropped from 40 to 36 percent.
Though increasing rates could spur some buyers to pull the trigger, today’s inventory shortage could continue to hold back home sales, Trulia Chief Economist Jed Kolko recently tweeted.
“People might want to buy before rates rise, but tight inventory makes it hard to find what you want fast,” he said.

- See more at: http://www.inman.com/2013/07/08/rising-mortgage-rates-could-push-up-housing-demand/#sthash.RHLzIW1U.dpuf

Energy Efficiency Credits Reinstated

If you’re thinking about replacing your windows this year with more energy efficient options, Washington just upped the incentive to actually get the job done. As part of the “fiscal cliff” agreement earlier this year, federal lawmakers agreed to reinstate the energy efficiency home improvement tax credits that had expired with 2011.

Homeowners who did not claim the full credit from 2006-11 can now receive 10 percent of the cost, up to a $200 tax credit, for Energy Star qualifying replacement windows purchased between Jan. 1, 2012 through the end of this year. Homeowners can also claim up to a $500 tax credit for other energy efficient home improvements from heating and cooling systems to insulation. More information on the program eligibility can be found at www.energystar.gov.

High-performance, low-emissivity vinyl windows are the top choice for homeowners looking for maximum energy efficiency. They help keep the heat out during the summer and the warm air in during the winter.
“They’ve come so far,” says Dennis Ewton, owner of King County Window & Glass, LLC in Federal Way, Wash. “The standard (vinyl window) is two coats of the low-E (glaze), but now they have three coats of low-E, so that’s a real plus. The low-E is what really works as far as the performance of the window. During the summer, the high performance low-E, the max, will reflect 94 percent of those ultraviolet rays that come in and fade the furniture, carpet and floors, and really heat the place up. It slows that heat transfer down in the winter. A standard low-E reflects about 84 percent.”

Thought the lure of tax savings can be appealing, replacement windows are a significant investment. Don’t neglect your due diligence and rush into this or any other home improvement project. To start, take time to find a reputable and qualified company that is going to explain your options and provide information on which windows do qualify for the tax credit. There are a variety of sales tactics companies use, the most notorious is the high-pressure sales job in which they offer a “discount” on inflated prices in exchange for an immediate decision.

“I don’t like people to do high-pressure sales on me,” says Jamie Schaffer with Superior Replacement Window & Door, Inc. in Cutler Bay, Fla. “It really turns me off. In my business, we operate on a consultative approach. We try to give our customers as much information as possible, so they can make an educated decision. We don’t ever want them to feel pressured to make a decision right there on the spot.”
Another approach is to offer a super-low price quote only to start tacking on extra charges once they get in the house.

“Don’t go by price alone,” says Jeff Wright of Atlas Window & Siding Co. of Lexington, Ky. “There are companies out there that advertise really low prices. Those really low prices are gimmicks to get their foot in the door, then once they’re in there, people find out it’s a really low-end product. It’s like a bait and switch almost.”

Get bids from at least three different window companies and ask the salesperson to provide the pricing and the ratings for each window type in writing. Also, if your home was built before 1978, be sure the window installers can provide proof of EPA certification for lead paint renovation.
If you plan to claim the credit, consult your tax professional to be sure you’re due the credit, buy the correct materials and have the documentation you need to claim your savings.
Source: AngiesList

Thinking of Selling? How Does Your Home Fit What Buyers Want

Many homeowners and Realtors are wondering not only what today’s home buyers really want, but also what they are ready to leave behind in light of current economic realities. A new study recently released by NAHB, What Home Buyers Really Want ^[2], was designed to answer these questions, and more specifically, to provide the most current and accurate information on buyer preferences.
 
So what do home buyers really want? The first answer is energy efficiency. Four of the top most wanted features involve saving energy: 94 percent of home buyers want energy-star rated appliances, 91 percent want an energy-star rating for the whole home, 89 percent want energy-star rated windows, and 88 percent want ceiling fans.

The second message buyers are sending is they want help keeping their home organized. The laundry room is wanted by 93 percent of buyers; in fact, 57 percent consider it essential and would be unlikely to buy a home without it. This shows that most buyers want to keep the dirty laundry contained in a room and away from plain view. Moreover, nine out of ten buyers want a linen closet in the bathroom to help keep towels and toiletries organized. Space in the garage to store bikes, sports equipment, or gardening tools also ranks high on the buyers’ wish list: 86 percent want it. And a walk-in pantry in the kitchen is something most buyers care a lot about as well (85 percent).

What is even more interesting is what buyers are not interested in buying. For example, 66 percent of buyers do not want to live in a golf course community, 56 percent reject the idea of living in a high density community, 48 percent do not want a gated community, and 44 percent would not buy a home in a mixed use community.

More than half of all buyers also discard the option of having only a shower stall in the master bathroom with no tub (51 percent), and many are saying ‘no’ to two-story spaces as well. About 43 percent of buyers do not want a two-story family room and 38 percent feel the same way about a two-story entry foyer. Many buyers now consider these large, open spaces as energy-inefficient – the last thing they want for their homes.

A complete outdoor kitchen is not an important priority to many buyers either, as 31 percent flat out discard the possibility of washing dishes, cooking, and keeping food refrigerated outdoors. For most buyers (62 percent), an outdoor grill will suffice.
For more information, visit www.nahb.org