Description
Value You Can Measure
New London homeowners have many valid reasons to upgrade their windows. Replacing broken windows, renewing the style of your home etc… Certain such features can be counted relatively explicitly.
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, houses in New London, will most probably experience large drops on annual spending for electricity. If you already have dual pane windows you may save approximately $180.61 compared to $172 in Concord. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $529.76 per year, compared to $472 in Concord.
Grow your New London Home’s Value through Energy Savings
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Upgrading 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.
In addition, 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? This is what we discovered in New London:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in New London, your home value could increase by around $1083.66 and $1585.76 for a mid-tier or top-tier New London 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. New London homeowners could see an estimated home value increase of between $3178.55 for mid-tier homes and $4651.28 for the top tier. Compare this to between $2832 and $4144.16 in Concord.
Another way to look at it, a window investment in New London can add anywhere from 0.28% percent and 1.18 % percent to the asking price of your home via 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 New London homeowner is relatively strong.
The variation between the range for New London and Concord, which for reference, would yield a potential premium range of 0.26% percent and 0.38% percent respectively, may come from a number of factors, notably; the 0.56% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the Concord region, and heating & cooling cost differences between New London and Concord.
The data presented is derived from EnergyStar, the NREL,Department of Energy and incredible research performed by the NAHB. New London 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: New London vs the rest of New Hampshire
Find out how investing in new windows in New London compares to other nearby New Hampshire cities.