Do new windows add value to your home?
In the last five years, the number of homeowners choosing to improve their homes rather than move has risen from 3% to 15% in a five year period. This increase represents more than four million households in the UK choosing to upgrade their home rather than make the move to a new property.(1)
The most influential external factor causing this rise in home renovations is the uncertainty of the property market, with over 25% of people claiming higher property prices are the main reason for remaining in their existing properties. 13% asked claimed that stamp duty made making a move too expensive with 7% having difficulty securing a new mortgage.(1)
Renovating your home can be a costly and time-consuming project, but can upgrading your home add value to your property? With the top renovation project being the bathroom (54% of projects) and the kitchen coming in close second (52% of projects), could you improve your home with a less costly upgrade adding more value to your property.(1)
Installing new double glazing windows was ranked as one of the top five renovation projects undertaken by homeowners to add value to their home and improve curb appeal. But how does upgrading the windows in your home add value to your property?(1)
The average cost of a UK home is around £226,906 (2) with the average window installation costing from 2-3% of this value (3). Of course, the style, size and number of windows required will reflect in the price of your installation, but with the development of cost-effective uPVC windows that can be designed to fit the individual needs of the customer, an installation within budget can be achieved.
With double glazing adding anything from 3% to 10% of value to a property (3), installing new windows is a great cost efficient project which effectively pays for itself in the long run. If you are able to secure an installation costing you around 2-3% of your property value, you could think about getting your windows as a cost-neutral investment in your home – that’s not even considering the many other reasons to upgrading to modern double glazing which we’ve included below.
Upgrading to new double glazing can save you money in the long run on your energy bills. On average, double glazed windows retain 10% more heat in the home, resulting in considerably less need for using central heating. 60% of homeowners claim that their home is noticeably warmer since changing their window installation to double glazed units. Keeping your home well insulated with good double glazing will also go some way to reducing the risk of damp and condensation in your property.(4)
Stylish and modern windows create a strong first impression to potential buyers of your home. They also promote good home security which is an essential feature for a desirable home.
Many estate agents agree that double glazing can make your home more ‘sellable’ with a massive 80% of home buyers surveyed by GoCompare stating that double glazing is a ‘must have feature’ when purchasing a property.(3)
(1) Hiscox Renovations and Extensions Report 2018 (2) https://www.gov.uk/government/news/uk-house-price-index-for-april-2018 (3) https://www.theecoexperts.co.uk/double-glazing-costs#property-value (4) https://householdquotes.co.uk/how-much-does-upvc-double-glazing-cost/