Description
Value You Can Measure
Hampton homeowners have many strong reasons to replace their windows. Repairing damaged windows, renewing the design of your home etc… Some such values should be counted relatively clearly.
To start, 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.
With regards to energy savings, people living in Hampton, should have important decreases on monthly expenditures for heating & cooling. If you already have dual pane windows you could save around $112.81 compared to $100 in Atlantic City. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $359.78 annually, compared to $274 in Atlantic City.
Improve your Hampton Home’s Value through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows could 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 ascertain : What’s the return on investment on energy savings on the market? This is what we estimated in Hampton:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Hampton, your home value could increase by between $676.85 and $990.45 for a mid-tier or top-tier Hampton home respectively. For comparison, the same upgrade in Atlantic City could add somewhere between $600 and $878.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Hampton homeowners may see an estimated home value gain of between $2158.71 for mid-tier homes and $3158.91 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.
In other words, a window investment in Hampton can add anywhere from 0.24% percent and 1.14 % percent to the value of your home through the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Hampton homeowner is relatively strong.
The variation between the range for Hampton and Atlantic City, which for reference, would yield a potential premium range of 0.22% percent and 0.32% percent respectively, can be estimated from a number of factors, particularly; the 1.42% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the New York-Newark-Jersey City region, and heating & cooling price differences between Hampton and Atlantic City.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and meticulous research performed by the NAHB. Hampton 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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