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On average, bay windows are three times as expensive as a standard double-hung window, so up-front cost is a major drawback. They also let in more natural light than most other types of windows, which can be a positive thing, but it can also lead to more aggressive fading and UV damage to furniture and flooring. Larger windows allow for more heat transfer, so bay windows tend to be less energy-efficient due to their size. Finally, window treatments for bay windows can be more challenging to find, and they’re more expensive than those you’d place over standard-sized windows.

In addition to protecting your home from costly storm damage, storm windows increase your home's value if you live in an area that’s prone to severe weather. Storm windows offer about an 80% return on investment (ROI). Therefore, if you install $10,000 worth of storm windows, you can expect to get around $8,000 back if you sell your home within a few years of installation. Additionally, highly hurricane-prone areas, like the Florida coast, offer even higher returns, with ROIs on storm windows reaching up to 86%.

Yes, caulking windows is worth it. Because moisture and air leaks are big sources of common window problems, caulking can be an inexpensive and easy way to eliminate both water and air from getting in. 

Wood windows will help keep an old home's charm, but they are more expensive and harder to maintain. Vinyl or fiberglass windows offer the best benefits in terms of durability and ease of care while still somewhat blending into the look and feel of an older home.  If the vinyl or fiberglass looks too out of place, consider adding shutters or something similar. The cost of plantation shutters is about $2,990, but the charm they bring to a home is unmatched.