Value You Can Measure
Conway residents have countless good reasons to upgrade their windows. Repairing damaged windows, improving the decor of your home etc… Certain such values should be measured relatively accurately.
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 puts windows among the top 5 home improvement investments in terms of value retention.
With regards to energy savings, residents of Conway, can expect to notice dramatic decreases on monthly spending for electricity. If you already have dual pane windows you may save approximately $171.09 compared to $172 in Concord. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $465.9 every year, compared to $472 in Concord.
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Increase your Conway Home’s Value through Energy Savings
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Replacing 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 ROI on energy savings if you sell your home? This is what we estimated in Conway:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Conway, your home value could increase by around $1026.54 and $1502.17 for a mid-tier or top-tier Conway home respectively. For comparison, the same upgrade in Concord may get you 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. Conway homeowners could see an estimated home value increase of between $2795.38 for mid-tier homes and $4090.57 for the top tier. Compare this to between $2832 and $4144.16 in Concord.
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Another way to look at it, a window investment in Conway can add anywhere from 0.43% percent and 1.72 % 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 worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Conway homeowner is relatively strong.
The variation between the range for Conway and Concord, which for reference, would yield a potential premium range of 0.43% percent and 0.64% percent respectively, is dependent on a number of factors, principally; the -0.06% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the region, and energy cost differences between Conway and Concord.
The data presented is based on EnergyStar, the NREL,Department of Energy and professional research executed by the National Association of Homebuilders. Conway home value data is provided by Zillow.
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