Exploring Long and Short Term Window Savings
If you’re starting a new window project in your home you probably have one question at the top of your mind: How do I maximize savings? In a March 2021 Modernize survey, we learned that more than 40 percent of homeowners are actively pursuing home improvement projects to save money on their utility and electric bills. From sourcing materials to finding contractors to redeeming discounts, there are a lot of factors you’ll need to consider if want to save money on a window project.
When exploring window options, determine what your timeline will be for the installation before getting started. Do you need your project completed as soon as possible? Then exploring short term window savings options is probably a good idea. Do you have time to complete your window project? Long term savings options could be the best way to save money.
When it comes time to make a purchase decision, look out for your bank account by doing research beforehand.
Short Term Window Savings
Do you have limited time to make your project a reality? While window replacement can be a big job, it can be a smarter financial decision to hold off for seasonal discounts and price comparison. Here’s what you should consider before moving forward.
Discounts on materials
The cost of your window project can vary greatly depending on the materials you use. Since the quote for your project will include materials, it’s a good idea to know which materials you can afford to save money on and search for deals. If you find more inexpensive materials, offer to purchase them yourself to cut down on the total cost you’ll pay the contractor. You can purchase window replacement materials from major retailers like The Home Depot and Lowes, or look for specific materials from secondhand sites like Craigslist or eBay.
Plan for the off-season
It’s no surprise that home renovations are more commonly undertaken in the warmer months, which could serve to drive prices up for both materials and labor. Not only could this increase your estimate, but it could stretch out the timeline of your project, as contractors are busy. Contractors are less likely to offer discounts during peak season.
Starting a project in a low period could help you find savings. To entice homeowners during the off-season, many contractors will offer discounts and specials to attract business. Take advantage of these seasonal offers to save money on your project.
Long-Term Window Savings
It’s also important to consider the longer-term benefits of window repairs and window replacements. Lower monthly utility bills, added home value, and environmentally friendly window options can make paying more upfront worth the expense.
Enjoy lower utility bills
Window installation is actually a great opportunity to lower your monthly utility bills. Though energy-efficient windows often have higher upfront costs, they can pay for themselves by saving you money on monthly energy costs. In fact, local utility companies could actually end up paying you for your surplus energy from solar windows.
When discussing the benefits of energy-efficient windows with contractors, push for details about savings. The thickness of your windows and the way they are sealed can make a big difference when it comes to how much energy remains in your home when you heat or cool it.
Increase the resale value of your home
When it comes time to sell your home, you can benefit from major improvements and renovations you’ve made. Window replacement is an easily recouped home improvement, with an estimated 85 percent of homeowners getting their full investment back with added resale value. When deciding between window replacement choices, opting for the more expensive option will likely become a draw for future buyers.
Explore government rebates for home repair
If you’re looking for additional window savings, government home improvement financial aid might be right for you. There are many financial packages available on a local, regional and federal scale to make your window dreams a reality. On a state level, you might have more options depending on your state of residence. Some states offer financial aid for health and safety purposes, as well as for those who can present proof of financial need.
Check with your local Housing and Urban Development office for more information about applicable home improvement grants and federal aid.