Homeowners often ask us about remodeling and home improvement projects that are a good investment and will provide a return at resale. Surprisingly, door and window replacement are two of the best “payback” projects, according to Remodeling magazine’s “Cost vs. Value Report” for 2011-2012.
When we look at return on investment (ROI) for remodeling projects, we reference Remodeling magazine’s analysis for the Mid-Atlantic Region. Here’s the latest cost data:
|Project:||Avg. Job Cost||Resale Value||ROI|
|Steel Entry Door Replacement||$1,293||$863||67.1%|
|Fiberglass Entry Door Replacement||$3,644||$1,976||54.2%|
|Garage Door Replacement||$1,566||$1,025||65.5%|
|Upscale Garage Door Replacement||$3,019||$2,015||66.8%|
|Vinyl Window Replacement||$11,904||$7,441||62.5%|
|Upscale Vinyl Window Replacement||$15,116||$9,167||60.6%|
|Wood Window Replacement||$12,858||$7,838||61.0%|
|Upscale Wood Window Replacement||$19,787||$11,217||56.7%|
Remodeling magazine’s cost report uses fiberglass and steel door estimates because of the prevalence of these products in the marketplace. Fiberglass doors are durable and adaptable to many architectural styles. They are easy to maintain and to paint. Steel doors have good insulating properties and are also very secure.
In addition to payback at resale, homeowners can expect to reduce their home heating costs by an average of 7 to15 percent per year if they replace all old windows with ENERGY STAR products, according to the EPA. These products insulate against both cold and heat. If you are replacing single pane windows with ENERGY STAR windows, on average, you can expect to save about $400 per year on energy costs. ENERGY STAR windows have two or more panes of glass with gas or air in the middle to insulate more efficiently. They also have coatings which block the sun’s heat and ultra violet rays that fade belongings. However, they need to be installed properly and sealed to maximize efficiency.
New windows and doors can make a significant impact on the “curb appeal” of your home for a modest investment and are a major asset at resale.