Value You Can Measure
North Haven property owners have plenty excellent reasons to replace their windows. Updating leaky windows, revamping the aesthetics of your home etc… Many such features can be measured quite exactly.
Firstly, 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, homes in North Haven, can expect to experience significant declines on annual bill for electricity. If you already have dual pane windows you could save around $194.84 compared to $172 in Hartford. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $581.51 every year, compared to $439 in Hartford.
Build your North Haven Home’s Asking Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows could add to 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to find out : What’s the ROI on energy savings on the market? Below is what we found in North Haven:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in North Haven, your home value could increase by around $1169.05 and $1710.71 for a mid-tier or top-tier North Haven home respectively. Compare this to, the same replacement in Hartford could add somewhere between $1032 and $1510.16.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. North Haven homeowners could see an estimated home value gain of between $3489.06 for mid-tier homes and $5105.66 for the top tier. Compare this to between $2634 and $3854.42 in Hartford.
Another way to look at it, a window investment in North Haven can add between 0.41% percent and 1.79 % percent to the value of your home through the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a North Haven homeowner is quite strong.
The variation between the range for North Haven and Hartford, which for reference, would yield a potential premium range of 0.36% percent and 0.53% percent respectively, is dependent on a number of factors, particularly; the 1.48% 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 North Haven and Hartford.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and meticulous research executed by the NAHB. North Haven home value data is provided by Zillow.
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