Value You Can Measure
Hillsborough residents have many excellent reasons to upgrade their windows. Upgrading leaky windows, refining the aesthetics of your home etc… Certain such features should be counted quite clearly.
For starters, windows conserve 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, houses in Hillsborough, should see impressive savings on annual expenditures for home energy. If you already have dual pane windows you could save about $169.05 compared to $172 in Concord. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $452.2 per year, compared to $472 in Concord.
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Improve your Hillsborough Home’s Value through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows can 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to determine : What’s the return on energy savings if you sell your home? Here is what we discovered in Hillsborough:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Hillsborough, your home value could increase by between $1014.29 and $1484.24 for a mid-tier or top-tier Hillsborough home respectively. For comparison, the same replacement in Concord could yield somewhere between $1032 and $1510.16.
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Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Hillsborough homeowners could yield an estimated home value increase of between $2713.2 for mid-tier homes and $3970.31 for the top tier. Compare this to between $2832 and $4144.16 in Concord.
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Put differently, a window upgrade in Hillsborough can add anywhere from 0.5% percent and 1.94 % percent to the asking price of your home via the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Hillsborough homeowner is quite strong.
The variation between the range for Hillsborough and Concord, which for reference, would yield a potential premium range of 0.5% percent and 0.74% percent respectively, is dependent on a number of factors, principally; the -0.19% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the Manchester-Nashua region, and heating & cooling cost differences between Hillsborough and Concord.
The data presented is derived from EnergyStar, the NREL,Department of Energy and extensive research performed by the NAHB. Hillsborough home value data is provided by Zillow.
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