The thought of replacing your windows might seem costly. You might think that your windows are functioning fine right now, so why should you bother replacing them? If you're wondering whether replacement windows are worthwhile, consider all the ways you can save money on your replacement.
Five ways to save money when replacing windows:
Benefit from tax credits and rebates
Replacement windows can be tax deductible. The government creates incentives for homeowners to make their homes more energy efficient; Homeowners who purchase and install qualifying ENERGY STAR® windows or doors may qualify for a tax credit.1 If you qualify, you could deduct 10 percent of the cost of the replacement windows, up to a maximum deduction of $200. Be sure to confer with a tax professional to determine if you qualify.
Depending on who you purchase your replacement windows from, you may also be able to get a manufacturer’s rebate for additional savings.
Include your energy savings in the cost of replacing the windows
When you factor in the potential reduction in your heating and cooling bills due to more energy efficient windows, the investment in replacing your windows might seem more reasonable. According to the New York Times, old windows are the most significant source of heat loss in the home. On a typical home, replacing your old single pane windows with ENERGY STAR® certified windows can save you between $101 and $583 a year2 And, as the years go by, those savings continue.
How do windows save you that money? Energy efficient windows are more air-tight than traditional windows. They can help reduce the amount of outside air getting in, and help reduce inside air from getting out. Energy efficient windows can also have a special coating on the glass which reflects sunlight in the summer, to keep your home cool, or absorb it, to keep your home warm in the winter.
Improve resale value
Replacing your windows can have an impact on how appealing your home is to homebuyers, should you put it on the market. New windows can improve the curb appeal, and you can even customize your replacement windows so that they fit the architecture of your house and the decor of the interior.
In addition, potential buyers may also be willing to pay more for a home that's more energy efficient. According to the National Association of home realtors, replacing your windows with new energy efficient windows can return 72% of the project cost upon resale.3 Replacement windows can help provide an energy efficient home for years to come.
Save time and money on maintenance
Rather than spending money on maintaining your old, inefficient windows, consider putting that money towards replacement windows. When you factor in cost and time to maintain old, inefficient windows, a window replacement may be the clear choice.
Enjoy convenient cleaning
New windows are designed with convenient features like sashes that tilt in - making them easier to clean and making it less likely you’ll need to hire a cleaning company. Factor what you would have spent on cleaning your old windows into the window replacement cost.
When you consider all the potential savings of replacing your windows, you might find that window replacement is the right choice for you. Qualifying tax deductions and rebates, a potential reduction in your heating and cooling bills and decreased time spent on maintenance and cleaning, make replacing your windows a worthy investment in your home.
1 Consult with a qualified tax advisor to confirm eligibility. Pella Corporation and its sales partners assume no liability regarding the homeowner’s ability to obtain tax credits. For more information, visit energystar.gov/taxcredits.
2 Ranges are based on the average savings among homes in modeled cities. Actual savings will vary based on local climate conditions, utility rates, and individual home characteristics. For more information go to energystar.gov/products/building_products/residential_windows_doors_and_skylights/benefits
3 Ranges are based on the average savings among homes in modeled cities. Actual savings will vary based on local climate conditions, utility rates, and individual home characteristics. For more information go to energystar.gov/products/building_products/residential_windows_doors_and_skylights/benefits