Description
Value You Can Measure
Darien residents have countless good reasons to replace their windows. Fixing broken windows, improving the decor of your home etc… Many such benefits can be quantified relatively clearly.
Firstly, windows retain 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.
As for energy savings, people living in Darien, may see large reductions on monthly costs for home energy. If you already have dual pane windows you could save around $328.89 compared to $172 in Hartford. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $1417.83 annually, compared to $439 in Hartford.
Build your Darien Home’s Value through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows may 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to estimate : What’s the return on investment on energy savings if you put your house up for sale? Here is what we found in Darien:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Darien, your home value could increase by between $4275.55 and $6771.48 for a mid-tier or top-tier Darien home respectively. Compare this to, the same replacement in Hartford could yield somewhere between $2236 and $3541.31.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Darien homeowners could see an estimated home value increase of between $18431.76 for mid-tier homes and $29191.66 for the top tier. Compare this to between $5707 and $9038.57 in Hartford.
In other words, a window upgrade in Darien can add anywhere from 0.33% percent and 2.28 % percent to the asking price of your home through 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 Darien homeowner is relatively strong.
The variation between the range for Darien and Hartford, which for reference, would yield a potential premium range of 0.17% percent and 0.28% percent respectively, is derived from a number of factors, principally; the 10.13% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Bridgeport-Stamford-Norwalk region, and heating & cooling cost differences between Darien and Hartford.
The data presented is derived from EnergyStar, the NREL,Department of Energy and meticulous research performed by the NAHB. Darien 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: Darien vs the rest of Connecticut
Find out how investing in new windows in Darien compares to other nearby Connecticut cities.