Description
Value You Can Measure
Naugatuck homeowners have a multitude valid reasons to change their windows. Upgrading old windows, changing the decor of your home etc… Other such benefits can be measured quite accurately.
To start, windows retain 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, homes in Naugatuck, should have dramatic drops on weekly spending for energy. If you already have dual pane windows you could save around $182.49 compared to $172 in Hartford. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $504.43 per annum, compared to $439 in Hartford.
Build your Naugatuck Home’s Value through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows can increase the value 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 find out : What’s the return on energy savings if you sell your home? Here is what we uncovered in Naugatuck:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Naugatuck, your home value could increase by between $1094.93 and $1602.24 for a mid-tier or top-tier Naugatuck home respectively. Compare this to, the same replacement in Hartford 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. Naugatuck homeowners could expect an estimated home value increase of between $3026.61 for mid-tier homes and $4428.93 for the top tier. Compare this to between $2634 and $3854.42 in Hartford.
Another way to look at it, a window upgrade in Naugatuck can add between 0.57% percent and 2.29 % percent to the sale price of your home through the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Naugatuck homeowner is quite strong.
The variation between the range for Naugatuck and Hartford, which for reference, would yield a potential premium range of 0.53% percent and 0.78% percent respectively, is dependent on a number of factors, primarily; the 0.68% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the New Haven-Milford region, and energy price differences between Naugatuck and Hartford.
The data presented is derived from EnergyStar, the NREL,Department of Energy and incredible research executed by the National Association of Homebuilders. Naugatuck 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: Naugatuck vs the rest of Connecticut
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