Is It Worth While to Replace My Windows?
Many people want to replace their windows to increase the energy efficiency in their homes and reduce their monthly energy costs.
The average home we do has on average 25 windows. If you are having a company install the windows you can expect on average $1000 per window (some are smaller and cheaper, some are larger and more expensive). For a home with 25 windows you are looking at approximately $25,000 - $30,000 for an average type of windows. If you are replacing with a high quality and efficient window we have heard of quotes around $45,000.
Let’s say your windows are $25,000 and it reduces your energy costs by $100 a month. That would mean in 20.8 years you would recoup the cost of your new windows which puts you at zero. After 20.8 years if your windows are still operating at the same efficiency as they were when they were new then you will start to make a return on your investment.
Here is one main problem you might run into. The average window we repair is 12 years old and on the high side is 17-19 years old before they fog up. In the last couple of years we have been repairing windows that are 4 years old or newer. The chances of you making it to the 20.8 year mark are not looking very favorable. This is also assuming that you save $100 every month on your energy bills. If you only saved $20 a month then it would be 104 years before you broke even.
If instead of pouring $25,000 into windows that you might recover in 20 years let’s say you invest $25,000 and leave it for 20 years in an investment that averages 10% annually. In 20 years your money will be worth a shade over $168,000. Even at 5% is a bit over $66,000. We say you have The Fog Guy repair your windows for pennies on the dollar and take the left over and invest it for the future or grand kids or travelling. For The Fog Guy to repair 25 windows would be right around $2,500 not $25,000.
The Fog Guy gave us the information we needed to make the right decision. Thanks for your time and your help.