Value You Can Measure
Canaan property owners have a whole host great reasons to replace their windows. Replacing damaged windows, renewing the look and feel of your home etc… Other such benefits should be counted relatively precisely.
For starters, windows conserve 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.
In terms of energy savings, homes in Canaan, can expect to see major declines on monthly spending for energy. If you already have dual pane windows you could save approximately $169.74 compared to $172 in Concord. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $456.84 annually, compared to $472 in Concord.
Improve your Canaan Home’s Value through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows can increase 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 return on investment on energy savings if you put your house up for sale? What follows is what we uncovered in Canaan:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Canaan, your home value could increase by around $1018.44 and $1490.32 for a mid-tier or top-tier Canaan home respectively. Compare this to, the same replacement in Concord could yield somewhere between $1032 and $1510.16.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Canaan homeowners could see an estimated home value gain of between $2741.05 for mid-tier homes and $4011.07 for the top tier. Compare this to between $2832 and $4144.16 in Concord.
In other words, a window investment in Canaan can add between 0.47% percent and 1.86 % percent to the sale price of your home through the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Canaan homeowner is quite strong.
The variation between the range for Canaan and Concord, which for reference, would yield a potential premium range of 0.48% percent and 0.7% percent respectively, is derived from a number of factors, in particular; the -0.15% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the Claremont-Lebanon region, and energy cost differences between Canaan and Concord.
The data presented is derived from EnergyStar, the NREL,Department of Energy and expert research conducted by the National Association of Homebuilders. Canaan home value data is provided by Zillow.
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