What is the ROI on New Windows & Doors?

 

When it comes to home improvement projects, the list can seem never-ending. While some DIY projects add curb appeal, smart homeowners know that when it comes to more extensive and costly projects, the return on investment (ROI) matters. Knowing which projects will pay off when it comes time to sell your home can be a significant consideration when prioritizing home improvements.  

What is ROI?

Return on investment (ROI) is used to determine which projects or investments will add the most value to your property. It can also help you validate the worth of a particular project. Thus, the projects with the highest ROI should be at the top of your to-do list. 

How do I calculate a project ROI?

Before you start any project, make sure you have accurate estimates. By calculating the ROI for each project, you can determine what projects you can afford as well as which ones will provide the highest ROI. To calculate the ROI, use the following formula:

Current Value of Investment / Cost of Investment = ROI

The “current value of investment” is the amount you receive after selling your home (or current market value if you’re not selling). For example, you decide to upgrade your windows at a cost of $17,000 and the current value of the investment is $12,000 - your ROI is 70.5%. Since ROI is a percentage, you can easily use this formula to compare the ROI of each project individually.

What Is A Good ROI?

The actual ROI depends on your location as well as scope and cost of the project. Ideally, you want to gain back as much money as possible with any investment in your home. Seek out projects with a lower cost with higher returns should you decide to refinance or sell your home. 

The Window Depot can help with the following improvements you can add to your property that have consistently high ROI:

Front Door Replacement

In recent years, a front door replacement is among the leaders in home improvement projects with a high ROI. According to the 2020 Cost vs. Value Report, a replacement steel entry door brings a 68.8% ROI. For an investment of $2,000 or less, it also ranks as one of the more affordable improvements. 

Unlike the institutional looking steel doors of yesterday, today’s entry doors come in a variety of styles and colors to fit the decor of your home - including some with glass and textured exteriors to mimic wood. Replacing your door will not only increase your home’s curb appeal, but it also provides better security for you and your family. 

Window Replacement

Window replacement projects still account for one of the highest ROIs for home improvement projects. A vinyl window replacement project can recoup as much as72.3% of their initial cost at resale. Wooden window replacements, however, have a slightly lower ROI of 68.9%. Potential home buyers view vinyl windows as lower maintenance, which may contribute to their higher ROI. 

Replacing your windows may be the most efficient use of your remodeling budget. This single project simultaneously increases your home’s value, energy-efficiency, and curb appeal. Choosing the right replacement windows will not only lower your energy bill year-round, but they will reduce your home’s carbon footprint for years to come. 

Siding Replacement

Siding replacement projects can have an ROI of nearly 78%, depending on the type of siding. Fiber cement siding provides a higher ROI than vinyl siding. Not only is it longer-lasting, it is impact resistant and able to withstand severe storms. Due to this, you’ll likely see a discount on homeowner’s insurance.

Vinyl siding has gained popularity over the years due to its lower cost compared to fiber-cement siding. It helps reduce energy consumption resulting in lower utility bills and home operating costs. Additionally, vinyl siding requires minimal upkeep - with regular cleaning and maintenance, it can last for decades. 

At The Window Depot, we install state-of-the-art, high-quality windows in homes throughout the Palm Harbor, Florida area. Our replacement will not only save you money over the long-term, but they will also improve your home’s energy efficiency and provide protection from severe weather. Call us at (813) 901-5555 or fill out our contact form to schedule an appointment or learn more about our products and services. You can also visit our showroom in Palm Harbor to view our windows firsthand.

 

Sources:

https://www.fortunebuilders.com/time-tested-remodeling-projects-with-the-highest-roi/ 

https://www.houselogic.com/photos/home-improvement/best-home-improvement/slide/steel-entry-door/#replacement-windows

 

 


Location: 4154 Corporate Ct, Palm Harbor, FL 34683, USA

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