Value You Can Measure
Bradford homeowners have countless great reasons to upgrade their windows. Upgrading leaky windows, revamping the look and feel of your home etc… Many such benefits can be calculated relatively clearly.
To begin with, windows preserve about 72.3 percent of their initial purchase value in New England according to the Remodeling 2020 Cost vs. Value Report. This puts windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, people living in Bradford, could notice major declines on weekly costs for electricity. If you already have dual pane windows you could save around $171.58 compared to $172 in Concord. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $469.17 every year, compared to $472 in Concord.
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Grow your Bradford Home’s Asking Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows may add to the value 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 determine : What’s the premium for energy savings on the market? Below is what we estimated in Bradford:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Bradford, your home value could increase by between $1029.47 and $1506.46 for a mid-tier or top-tier Bradford home respectively. Compare this to, the same replacement 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. Bradford homeowners may yield an estimated home value gain of between $2815.02 for mid-tier homes and $4119.32 for the top tier. Compare this to between $2832 and $4144.16 in Concord.
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Put differently, a window investment in Bradford can add between 0.42% percent and 1.68 % percent to the asking price of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Bradford homeowner is relatively strong.
The variation between the range for Bradford and Concord, which for reference, would yield a potential premium range of 0.42% percent and 0.61% percent respectively, is dependent on a number of factors, particularly; the -0.03% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Concord region, and heating & cooling price differences between Bradford and Concord.
The data presented is based on EnergyStar, the NREL,Department of Energy and expert research done by the National Association of Homebuilders. Bradford home value data is provided by Zillow.
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