If you can see your old wood widows are starting to weaken and fall apart, even if you try to paint them regularly, it's time to update them. You don't want to put your home at risk, or further damage that you could already have because you don't want to spend new money on windows.
You'll want to call around to a few different window contractors to see what the cost is going to be for the new window installation. Have the contractors come to your home to give you a complete estimate. Here are a few things to consider to save money.
If you have the tools and you think you are capable, remove the old windows in your own. If you think that you remove the window from the outer frame without damaging it, so you don't cause more work when the new windows go in, this can lower the cost of the project. You won't have to pay the window contractors labor costs for extracting the windows and you can repurpose or sell the windows.
Sell the Old Windows
People are into using old window frames for crafts. They use the frames as hanging decor pieces, as a display to put up a picture or pictures, they add hooks to make racks and more. You could look at the current rate of old window frames on craft sites or local classified sites, and easily get paid per window. This is going to be a great way to get some money back to pay for the project.
Do the Project in the Off Season
If you can withstand the chilly temperatures in your home to have the project completed early in the spring before the window contractors get busy, or later in the fall after they window installation company has slowed down, they may give you a discount. Most people have their windows replaced when the weather is warm, and they don't have to worry about heat loss.
If you know your windows are faulty you don't want to put off the project any longer. You don't want to end up with mold and warping because water is getting to the structure of the home, and you don't want to pay high heating and cooling bills because your windows aren't efficient. Talk with the window repair and installation contractors about new vinyl clad windows that are insulated and weather resistant.