Just recently, I was asked about the possible improvement in resale value if the home owner replaced the windows. Actually, I was asked this very question twice in the last 3 months.
The bottom line is that you won't get your money back.
According to CMHC (Canada Mortgage and Housing), you can expect to recoup about 50-75% of the value of the windows through the sale of the property.
Do you want to see the expected returns on other various renovations? Here's the link.
Rarely does anything provide a better return on your investment when selling a home, than fresh paint and de-cluttering.While they may not translate directly to a bottom line improvement ($$), they will likely decrease the time your home spends sitting on the market. De-cluttering makes your house look larger (and cleaner and better kept). And new paint is fresh and inviting. (and *essential* if the seller was smoker!). Shampooing the broadloom would be next on the list.
Ditto for cleaning the windows.
Dirty windows draw your eyes to the windows.
Clean windows draw your eyes to the view.
Let's say you're living in an older home and several items could use updating.
You choose the windows. And upgrade them.
And then list the house.
I bring a buyer's offer that's less than you want.
You tell me the windows are new(er).
I point to the furnace.
You fix or upgrade the furnace.
I point to the roof.
You fix or upgrade the roof.
I point to the [fill in the blank]......get the idea?
Basically, working for the Buyer, I'm going to point at whatever you *haven't* renovated/upgraded as a justification of my offer price.
And if you tell me they're top-rated "xyz windows", I'll tell you my Buyer had a bad experience with that brand. And they prefer "brand uvwx"
If you tell me the shingles are 100-year shingles, I'll tell you that my Buyer isn't going to live that long and doesn't see the value. (by the way, unless you're planning to live there for the duration, anything more than the standard-life shingle is money you won't get back - unless of course, the rest of the neighbourhood is Marley-roof, then you'd be wise to do likewise.)
On other items that are tied to people's tastes and opinions
- you put in new broadloom, they want hardwood.
- you put in modern, above-counter sinks, they want traditional
- you put in gas fireplace, they prefer wood-burning.
Don't do upgrades that can narrow the types of buyers that look at your house. You want your house to appeal to the broadest range of buyers possible. What they do to it afterwards, is their business!
Like I said - Fresh paint and de-clutter (and clean windows)!
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