Value You Can Measure
Brooklyn residents have countless good reasons to change their windows. Fixing damaged windows, renewing the style of your home etc… Certain such benefits may be calculated quite precisely.
For starters, 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, households located in Brooklyn, will most probably have important savings on monthly bill for electricity. If you already have dual pane windows you may save about $186.96 compared to $172 in Hartford. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $532.31 every year, compared to $439 in Hartford.
Improve your Brooklyn Home’s Value through Energy Savings
[lme-module module=”market-stats” city=”Brooklyn” state=”CT”]
Switching your windows to EnergyStar rated National Vinyl windows could increase the sale 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 ascertain : What’s the ROI on energy savings if you sell your home? This is what we estimated in Brooklyn:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Brooklyn, your home value could increase by around $1121.73 and $1641.47 for a mid-tier or top-tier Brooklyn home respectively. Compare this to, the same upgrade in Hartford could add somewhere between $1032 and $1510.16.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Brooklyn homeowners may see an estimated home value increase of between $3193.85 for mid-tier homes and $4673.67 for the top tier. Compare this to between $2634 and $3854.42 in Hartford.
In other words, a window investment in Brooklyn can add anywhere from 0.5% percent and 2.06 % percent to the asking price of your home through the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Brooklyn homeowner is relatively clear.
The variation between the range for Brooklyn and Hartford, which for reference, would yield a potential premium range of 0.46% percent and 0.67% percent respectively, is dependent on a number of factors, especially; the 0.97% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Worcester region, and energy price differences between Brooklyn and Hartford.
The data presented is based on EnergyStar, the NREL,Department of Energy and expert research done by the National Association of Homebuilders. Brooklyn home value data is provided by Zillow.
[lme-module module=”market-activity” city=”Brooklyn” state=”CT”]
Directions from Brooklyn to our headquarters