Value You Can Measure
Bennington property owners have many great reasons to replace their windows. Upgrading old windows, renewing the aesthetics of your home etc… Some such values can be quantified relatively clearly.
To start, windows maintain about 72.3 percent of their initial purchase value in New England according to the Remodeling 2020 Cost vs. Value Report. This places windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, residents of Bennington, are likely to have significant drops on annual spending for heating & cooling. If you already have dual pane windows you may save approximately $168.65 compared to $172 in Concord. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $449.54 every year, compared to $472 in Concord.
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Build your Bennington Home’s Value through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows can increase the asking price of your home. As mentioned before, windows preserve most of their initial value especially given their long life expectancy. At a rate of 72.3% estimated for 2020 an average total window replacement job costing $17,925 would preserve $13,018 of its initial value.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to find out : What’s the return on investment on energy savings if you sell your home? Below is what we estimated in Bennington:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Bennington, your home value could increase by around $1011.91 and $1480.76 for a mid-tier or top-tier Bennington home respectively. For comparison, the same upgrade in Concord could yield somewhere between $1032 and $1510.16.
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Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Bennington homeowners may expect an estimated home value increase of between $2697.22 for mid-tier homes and $3946.93 for the top tier. Compare this to between $2832 and $4144.16 in Concord.
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Put differently, a window upgrade in Bennington can add anywhere from 0.51% percent and 1.99 % percent to the sale price of your home through the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Bennington homeowner is relatively clear.
The variation between the range for Bennington and Concord, which for reference, would yield a potential premium range of 0.52% percent and 0.76% percent respectively, may come from a number of factors, notably; the -0.22% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Manchester-Nashua region, and energy price differences between Bennington and Concord.
The data presented is derived from EnergyStar, the NREL,Department of Energy and extensive research performed by the National Association of Homebuilders. Bennington home value data is provided by Zillow.
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