Description
Value You Can Measure
Hinsdale property owners have a whole host good reasons to change their windows. Upgrading damaged windows, changing the aesthetics of your home etc… Many such values may be counted rather precisely.
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 puts windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, homeowners in Hinsdale, should notice dramatic declines on daily costs for home energy. If you already have dual pane windows you could save approximately $166.06 compared to $172 in Concord. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $432.15 per annum, compared to $472 in Concord.
Build your Hinsdale Home’s Asking Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows can increase 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 evaluate : What’s the premium for energy savings on the market? This is what we estimated in Hinsdale:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Hinsdale, your home value could increase by around $996.35 and $1458 for a mid-tier or top-tier Hinsdale 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. Hinsdale homeowners may expect an estimated home value increase of between $2592.87 for mid-tier homes and $3794.24 for the top tier. Compare this to between $2832 and $4144.16 in Concord.
In other words, a window upgrade in Hinsdale can add between 0.64% percent and 2.44 % percent to the sale price of your home through the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Hinsdale homeowner is quite clear.
The variation between the range for Hinsdale and Concord, which for reference, would yield a potential premium range of 0.66% percent and 0.97% percent respectively, is dependent on a number of factors, especially; the -0.38% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the Keene region, and heating & cooling price differences between Hinsdale and Concord.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research conducted by the National Association of Homebuilders. Hinsdale 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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