Description
Value You Can Measure
Claremont residents have a multitude good reasons to upgrade their windows. Replacing leaky windows, changing the design of your home etc… Some such benefits should be measured rather exactly.
To begin with, windows maintain about 72.3 percent of their initial purchase value in New England according to the Remodeling 2020 Cost vs. Value Report. This sets windows among the top 5 home improvement investments in terms of value retention.
With regards to energy savings, people living in Claremont, should experience large declines on daily spending for home energy. If you already have dual pane windows you may save approximately $165.07 compared to $172 in Concord. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $425.49 every year, compared to $472 in Concord.
Grow your Claremont Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may add to 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 determine : What’s the return on energy savings on the market? This is what we discovered in Claremont:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Claremont, your home value could increase by between $825.33 and $1097.69 for a mid-tier or top-tier Claremont home respectively. Compare this to, the same upgrade in Concord could yield somewhere between $860 and $1143.8.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Claremont homeowners may see an estimated home value increase of between $2127.43 for mid-tier homes and $2829.48 for the top tier. Compare this to between $2360 and $3138.8 in Concord.
Another way to look at it, a window investment in Claremont can add anywhere from 0.59% percent and 2.03 % percent to the asking price of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Claremont homeowner is quite clear.
The variation between the range for Claremont and Concord, which for reference, would yield a potential premium range of 0.62% percent and 0.82% percent respectively, is derived from a number of factors, principally; the -0.45% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the Claremont-Lebanon region, and energy cost differences between Claremont and Concord.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research done by the NAHB. Claremont home value data is provided by Zillow.
Data Sources & Disclaimers
Sources:
https://www.bls.gov/regions/
https://www.eia.gov/consumption/residential/data/2015/index.php?view=consumption
https://www.energy.gov/energysaver/design/windows-doors-and-skylights/update-or-replace-windows
https://www.eia.gov/consumption/residential/data/2015/index.php?view=consumption#by%20end%20uses
https://openei.org/wiki/NSTAR_Electric_Company
https://www.aceee.org/press/2018/10/aceee-2018-state-energy-efficiency
https://www.builderbooks.com/what-home-buyers-really-want–2019-edition-products-9780867187724.php?page_id=32&pid=NAH
http://eyeonhousing.org/2019/04/how-much-are-buyers-willing-to-pay-for-energy-efficiency/
https://www.builderbooks.com/what-home-buyers-really-want–2019-edition-products-9780867187731.php
https://www.remodeling.hw.net/cost-vs-value/2020/new-england/
Disclaimer: The information on our website is general in nature and is not intended as a substitute for competent legal, financial or engineering advice.
Although National Vinyl is a Member of the National Homebuilders association and TrustGard windows are the recipient of EnergyStar’s “Most Efficient”,
we wish to state clearly and unequivocally: the information provided does not consitute an endorsement by or from any third party. We make no representation as to the accuracy of the information entered by third parties.We, our directors or shareholders disclaim any liability for any damages or loss arising from your use thereof.
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Energy Savings & ROI: Claremont vs the rest of New Hampshire
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