Description
Value You Can Measure
Lincoln property owners have many great reasons to change their windows. Upgrading leaky windows, improving the aesthetics of your home etc… Some such values should be measured rather precisely.
For starters, windows preserve 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 Lincoln, will most probably experience dramatic savings on annual expenditures for energy. If you already have dual pane windows you may save about $169.65 compared to $172 in Concord. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $456.24 annually, compared to $472 in Concord.
Increase your Lincoln Home’s Value through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows could increase 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to uncover : What’s the return on energy savings on the market? This is what we found in Lincoln:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Lincoln, your home value could increase by around $1017.9 and $1489.53 for a mid-tier or top-tier Lincoln home respectively. For comparison, the same upgrade 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. Lincoln homeowners could expect an estimated home value gain of between $2737.43 for mid-tier homes and $4005.78 for the top tier. Compare this to between $2832 and $4144.16 in Concord.
Another way to look at it, a window upgrade in Lincoln can add anywhere from 0.48% percent and 1.87 % percent to the asking price of your home through 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 Lincoln homeowner is quite strong.
The variation between the range for Lincoln and Concord, which for reference, would yield a potential premium range of 0.48% percent and 0.7% percent respectively, can be estimated from a number of factors, primarily; the -0.15% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the Claremont-Lebanon region, and heating & cooling price differences between Lincoln and Concord.
The data presented is based on EnergyStar, the NREL,Department of Energy and expert research done by the NAHB. Lincoln 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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