Description
Value You Can Measure
Lancaster residents have many good reasons to change their windows. Repairing old windows, changing the aesthetics of your home etc… Many such benefits should be measured quite accurately.
To start, windows maintain 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.
With regards to energy savings, people living in Lancaster, will most probably see impressive reductions on monthly spending for electricity. If you already have dual pane windows you could save about $166.36 compared to $172 in Concord. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $434.16 annually, compared to $472 in Concord.
Improve your Lancaster Home’s Resale Price through Energy Savings
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Replacing 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 figure out : What’s the return on investment on energy savings if you sell your home? Below is what we uncovered in Lancaster:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Lancaster, your home value could increase by around $998.16 and $1460.64 for a mid-tier or top-tier Lancaster home respectively. For comparison, the same replacement in Concord could yield somewhere between $1032 and $1510.16.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Lancaster homeowners may expect an estimated home value increase of between $2604.99 for mid-tier homes and $3811.97 for the top tier. Compare this to between $2832 and $4144.16 in Concord.
In other words, a window investment in Lancaster can add between 0.62% percent and 2.37 % percent to the sale price of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Lancaster homeowner is relatively strong.
The variation between the range for Lancaster and Concord, which for reference, would yield a potential premium range of 0.64% percent and 0.94% percent respectively, is dependent on a number of factors, especially; the -0.36% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Berlin region, and heating & cooling price differences between Lancaster and Concord.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research executed by the NAHB. Lancaster 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: Lancaster vs the rest of New Hampshire
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