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Investment in New Windows and Doors

Replacing old windows and Doors in your home with new, attractive, energy efficient varieties can pay immediate dividends through increased market value and reduced energy and maintenance costs. These findings resulted from two major surveys conducted in Canada and the United States and give added impetus to the trend among home-owners to upgrade their windows and doors whether they intend to sell their homes or not.

The Appraisal Institute of Canada - the organization representing many appraisers working for mortgage companies, real estate firms and similar organizations - recently conducted a survey in Canada to determine what home improvement projects provided the greatest return in increased market value to homeowners. Window and Door replacement ranked in the top ten and was estimated to return, on average, 57 percent of dollars spent.

On another study carried out in the United State by NFO WorldGroup, 2,000 consumers were asked to estimate home prices based on the exterior appearance. The consumers were shown pictures of homes and asked to estimate how much the home was worth. One group of consumers was shown phones of homes with old-style doors, while the others were shown photos of the same homes following the installation of an upgraded front door system.

On average, the consumers estimated the value of the homes with the upgraded front door to be worth 5.3 percent more than the same home prior to the upgrade. Based on a home valued at $200,000, this adds in excess of $10,000 in market value.

In addition to increased market values an investment in replacement windows and doors can improve a home's energy efficiency by up to 20 percent, resulting in a marked decrease in energy bills. On average it costs $1,200 per year to heat a home, and of that, industry standards suggest that about 30 percent is due to window related heat loss. Industry experts estimate that, over the past three years, Canadians have saved almost $2.5 million in energy costs just by installing energy efficient windows.

Finally, homeowners who install new maintenance free windows realize substantial savings as a result of reduced maintenance costs. In Calgary's climate most wood windows require painting every two to three years.