Value You Can Measure
Meriden homeowners have plenty valid reasons to upgrade their windows. Upgrading broken windows, improving the decor of your home etc… Other such benefits should be measured relatively accurately.
First of all, windows retain 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, people living in Meriden, should experience important reductions on monthly expenditures for electricity. If you already have dual pane windows you could save around $179.82 compared to $172 in Hartford. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $487.82 per year, compared to $439 in Hartford.
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Grow your Meriden Home’s Resale Price through Energy Savings
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Switching 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 return on energy savings if you put your house up for sale? The following is what we estimated in Meriden:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Meriden, your home value could increase by around $1078.95 and $1578.86 for a mid-tier or top-tier Meriden home respectively. Compare this to, the same replacement in Hartford 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. Meriden homeowners may expect an estimated home value gain of between $2926.89 for mid-tier homes and $4283.02 for the top tier. Compare this to between $2634 and $3854.42 in Hartford.
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In other words, a window upgrade in Meriden can add anywhere from 0.62% percent and 2.47 % percent to the value of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Meriden homeowner is quite clear.
The variation between the range for Meriden and Hartford, which for reference, would yield a potential premium range of 0.6% percent and 0.87% percent respectively, is derived from a number of factors, especially; the 0.51% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the New Haven-Milford region, and heating & cooling price differences between Meriden and Hartford.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and meticulous research conducted by the National Association of Homebuilders. Meriden home value data is provided by Zillow.
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