Do Window Upgrades Boost the Value of Your Property in Toronto?
People buy properties for residential and commercial reasons every day in Toronto. Some invest in newly-built properties and others enjoy buying old ones so that they can renovate them and live there or sell them at a higher value later. Thus, you are almost guaranteed a ready market whenever you decide to sell your property.
But should you remodel it before selling or should you sell it as it is? If you choose the first option, one important area that you have to invest heavily in is the window section. But, does upgrading your windows improve the resale value of your property? To plausibly answer this question, let’s look at these two arguments.
More Often, It Does
If it cost you $15,000 to upgrade your windows in Toronto, you are likely to improve the resale value of your property by an extra $11,000. Wondering how this is possible? Well, window upgrades demonstrate the following benefits:
- Style Upgrade: Upgrading your windows means going for better modern styles such as double-hung windows, slider windows, awning windows, and casement windows. By upgrading to such options, you are also able to upgrade the overall style of your home. This will attract a lot of property investors who are crazy about contemporary styles.
- Energy-Efficiency: Nowadays, most window upgrades are energy-efficient. They are able to retain heat during the winter and facilitate its expulsion during summer so as to help you enjoy regulated temperatures at home. This means less heating and cooling costs.
- A Brighter Home: Everyone loves a bright home since it’s lively and more inspiring. This is what you get when you upgrade your windows. The new design will guarantee adequate natural lighting so that your house can look brighter and more spacious. Besides, sufficient natural lighting means reduced need for artificial lights and thus fewer electricity costs.
- Comfort and Appeal: Most window upgrades give you a comfortable feeling at home. This is because they are well-insulated and can reduce noise, prevent excess sunlight, and minimize condensation. In addition, they come in attractive designs. So, prospective buyers find them very pleasing. They are also easy to clean, maintain, and operate.
So, the moment most prospective property buyers learn of the advantages of the window upgrades, they won’t hesitate to improve their offer.
A Few Times, It Doesn’t
Window upgrades generally cost a fortune. For s standard size home, it may cost you $10,000 on average to upgrade all your windows in Toronto. This means that you have to quote a higher price when you decide to sell the house so as to at least recover a part of the upgrade costs and get a fair price for the entire house. Such a decision may not please some customers since they’ll see it as expensive. Furthermore, most buyers who go for old houses do it because they want a bargain and thus, they won’t settle for anything else.
Though there are situations where window upgrades don’t seem like a great idea, most times it is. So, why not take the chance if you are looking to cash in on your house sometime in the future? From the first argument, chances are that you won’t regret it.