Description
Value You Can Measure
Henniker property owners have plenty strong reasons to change their windows. Upgrading broken windows, changing the design of your home etc… Other such values can be measured quite explicitly.
First of all, windows conserve 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.
As for energy savings, homeowners in Henniker, could experience dramatic decreases on annual costs for heating & cooling. If you already have dual pane windows you could save about $172.7 compared to $172 in Concord. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $476.68 annually, compared to $472 in Concord.
Build your Henniker Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows can add to the sale 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 answer the question : What’s the premium for energy savings on the market? The following is what we found in Henniker:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Henniker, your home value could increase by around $1036.19 and $1516.29 for a mid-tier or top-tier Henniker home respectively. For comparison, the same replacement in Concord may get you somewhere between $1032 and $1510.16.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Henniker homeowners could see an estimated home value gain of between $2860.09 for mid-tier homes and $4185.27 for the top tier. Compare this to between $2832 and $4144.16 in Concord.
In other words, a window investment in Henniker can add between 0.39% percent and 1.59 % 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 Henniker homeowner is relatively clear.
The variation between the range for Henniker and Concord, which for reference, would yield a potential premium range of 0.39% percent and 0.57% percent respectively, may come from a number of factors, especially; the 0.05% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the Concord region, and energy cost differences between Henniker and Concord.
The data presented is derived from EnergyStar, the NREL,Department of Energy and professional research conducted by the NAHB. Henniker 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: Henniker vs the rest of New Hampshire
Find out how investing in new windows in Henniker compares to other nearby New Hampshire cities.