Sure they let in the lots of natural light, and that’s good. But they also let in a huge amount of heat in the summer and cold in the winter. As property owners we are then left with the bills resulting from overcoming Mother Nature’s window-related effects. Heating or cooling, the costs add up big time. With winter approaching we are once again forced to consider our windows and their effect on our budgets. Among other things, we debate whether they should be repaired, replaced, re-caulked or just ignored. Here are some things to consider:
- The expense: Will your savings or increased rents be sufficient to produce an increased NOI?
- The condition: Often what appears to be rotted (feels spongy) is just weathered wood (still firm). It would be wise in the case of weathered wood to do some sanding, sealing and repainting.
- The visibility: If your double pane windows fog up, the seal is broken, air is getting in and the efficiency is lost. Double pane windows often cannot be repaired and are best replaced.
Windows are a critical issue. They either enliven a property or give it a dated appearance it and leave it with an impression of being unkempt. Sometimes window upgrades or replacement is a function of long term management and not necessarily an immediate increase in property value through an increased NOI. Ultimately it is a question of the owner’s goals or cash position. Great windows add to a property and save money long term. The question you may have to answer is, “do we do it now or later?” If the answer is to bite the bullet now, here are four things to remember.
- Vinyl replacement windows are typically the best option, particularly when they have “welded” frames. (Some are even foam filled for additional insulation.)
- On double pane windows rubber spacers between the sheets of glass are best and least likely to fail.
- Argon gas and low-E coatings maximize efficiency and reduce ongoing expenses.
- Get a good warrantee and an even better installer. Both will save you money over the life of the windows.
It is a wonderful feeling to stand next to a picture window, sipping hot chocolate and looking out at a cold night’s snowstorm, especially if you don’t feel any cold radiating from the class.
Pick the right windows and your property will operate better and the value in increased rents and reduced expenses should accrue to your long term benefit. We’re glad to help. Let us know what more we can do.