Savings Category: Replacement Window Savings

Description

Value You Can Measure

Durham residents have a whole host strong reasons to replace their windows. Replacing broken windows, improving the look and feel of your home etc… Many such benefits can be measured rather clearly.

First of all, windows maintain 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 Durham, may experience large savings on monthly bill for heating & cooling. If you already have dual pane windows you could save around $181.16 compared to $172 in Concord. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $533.44 every year, compared to $472 in Concord.

Build your Durham Home’s Asking Price through Energy Savings

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Upgrading 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.

In addition, many buyers are willing to pay a premium for energy savings. Here we try to estimate : What’s the premium for energy savings when it comes time to sell? Below is what we discovered in Durham:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Durham, your home value could increase by between $1086.96 and $1590.58 for a mid-tier or top-tier Durham home respectively. Compare this to, the same upgrade 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. Durham homeowners may see an estimated home value increase of between $3200.65 for mid-tier homes and $4683.61 for the top tier. Compare this to between $2832 and $4144.16 in Concord.

Put differently, a window upgrade in Durham can add between 0.27% percent and 1.17 % percent to the sale 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 initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Durham homeowner is relatively strong.

The variation between the range for Durham and Concord, which for reference, would yield a potential premium range of 0.26% percent and 0.38% percent respectively, is derived from a number of factors, in particular; the 0.59% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the Boston-Cambridge-Newton region, and heating & cooling cost differences between Durham and Concord.

The data presented is based on EnergyStar, the NREL,Department of Energy and extensive research performed by the National Association of Homebuilders. Durham home value data is provided by Zillow.

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