Description
Value You Can Measure
Groveton homeowners have plenty valid reasons to upgrade their windows. Repairing broken windows, changing the style of your home etc… Some such values should be counted quite accurately.
Firstly, windows conserve 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, homeowners in Groveton, are likely to see large drops on weekly bill for heating & cooling. If you already have dual pane windows you may save approximately $160.32 compared to $172 in Concord. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $393.62 per year, compared to $472 in Concord.
Increase your Groveton Home’s Asking Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows could add to 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 answer the question : What’s the return on investment on energy savings on the market? This is what we uncovered in Groveton:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Groveton, your home value could increase by around $801.58 and $1066.1 for a mid-tier or top-tier Groveton home respectively. Compare this to, the same upgrade in Concord could add somewhere between $860 and $1143.8.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Groveton homeowners could yield an estimated home value increase of between $1968.1 for mid-tier homes and $2617.57 for the top tier. Compare this to between $2360 and $3138.8 in Concord.
Put differently, a window investment in Groveton can add anywhere from 1.29% percent and 4.23 % percent to the value of your home via 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 Groveton homeowner is relatively strong.
The variation between the range for Groveton and Concord, which for reference, would yield a potential premium range of 1.39% percent and 1.85% percent respectively, is derived from a number of factors, particularly; the -0.75% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the Berlin region, and energy price differences between Groveton and Concord.
The data presented is based on EnergyStar, the NREL,Department of Energy and meticulous research performed by the National Association of Homebuilders. Groveton 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: Groveton vs the rest of New Hampshire
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