Adding Home Value: A Window of Opportunity When the Market Sags
Adding Home Value: A Window of Opportunity When the Market Sags
- April 7th, 2010By Ann Gregory & Laurie Scarborough, Co-Owners, The Door Store and Windows, Louisville, KY
When a sick economy takes a sudden turn for the worse, as it did in the 2008-2009 recession, your investments can take a long time to recover. Experts may know how the market went bad, but they don’t have a quick cure.
Your home is traditionally among the most secure assets in your portfolio. But it, too, has probably lost value in recent years. Could physical therapy help improve your financial picture? You might be surprised at the answer to that question. In some cases it’s a very big “yes.”
We don’t pretend to be financial planners, but we have a plan that can basically pay for high quality, insulated windows and doors over time and provide a great tax credit.
We challenge homeowners to look into making the most of an investment they already have - their home. Each home is unique. This isn’t for everyone, but it’s definitely worth a close look - especially if you know you have old, drafty windows.
This plan is one that your financial advisors haven’t thought about. It involves an investment in the home you already own. The basic premise is that premium quality replacement windows and doors can practically pay for themselves and pay back rich dividends in comfort and beauty every day. Here’s how:
Home value dividend - When you replace older single-pane windows and storms with new Energy Star rated Marvin windows from The Door Store and Windows, your home value can increase by as much as 70 percent of the window purchase price. In other words, most of your purchase becomes an investment in your real estate - not an expense.
Up to $1,500 tax credit through 2010 - You may qualify for a federal tax credit of up to $1,500 under the federal stimulus program when you install energy-efficient windows or doors. Most Marvin window and door products qualify for a tax credit equal to 30 percent of the product cost. The maximum amount of homeowner credit for all improvements combined (including roofing, insulation, HVAC and water heaters) is $1,500 during 2009 and 2010.
A “green” return - Premium quality windows can reduce your heating and cooling costs by 10 - 40 percent, while you’re doing your part for energy independence.
Reduced maintenance - Every four to eight years, you save about $100 per window because custom-color aluminum clad windows require no exterior painting. And that’s not to mention the annual struggle to wash storm windows that can cost time and money. The easy-open and tilt-in design of the premium windows made by Marvin eliminates or dramatically reduces the expense of professional window washing.
Comfort and beauty bonus - Quality windows add to your home’s aesthetics, but they have other comfort-related advantages, too. The Low-E glass reduces UV ray destruction of prized artwork, oriental rugs, upholstery, draperies, photography antiques, and other furnishings.
Priceless hidden benefits - New windows also can seal out drafts and noise to make your home more comfortable and quiet.
Look into an investment that pays back in home value, comfort and beauty. Contact The Door Store and Windows for an in-home estimate and a home improvement worksheet to see if new windows and doors are a good investment for you. Please call your window consultants at 502-896-1717 or email agregory@doorstoreandwindows.com for more information.
