Value You Can Measure
New Britain property owners have a whole host good reasons to replace their windows. Repairing broken windows, improving the design of your home etc… Certain such values may be counted rather explicitly.
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 puts windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, residents of New Britain, can expect to notice important decreases on monthly costs for home energy. If you already have dual pane windows you may save around $127.72 compared to $116 in Philadelphia. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $366.59 annually, compared to $294 in Philadelphia.
Increase your New Britain Home’s Resale Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may add to 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to ascertain : What’s the ROI on energy savings if you sell your home? Below is what we discovered in New Britain:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in New Britain, your home value could increase by around $766.3 and $1121.35 for a mid-tier or top-tier New Britain home respectively. Compare this to, the same upgrade in Philadelphia could add somewhere between $696 and $1018.48.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. New Britain homeowners could expect an estimated home value gain of between $2199.52 for mid-tier homes and $3218.63 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
Another way to look at it, a window upgrade in New Britain can add anywhere from 0.2% percent and 0.82 % percent to the value of your home via 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 New Britain homeowner is quite clear.
The variation between the range for New Britain and Philadelphia, which for reference, would yield a potential premium range of 0.18% percent and 0.26% percent respectively, may come from a number of factors, especially; the 1.12% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Philadelphia-Camden-Wilmington region, and energy cost differences between New Britain and Philadelphia.
The data presented is derived from EnergyStar, the NREL,Department of Energy and meticulous research done by the NAHB. New Britain home value data is provided by Zillow.
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