Description
Value You Can Measure
Shelton homeowners have plenty good reasons to upgrade their windows. Repairing old windows, renewing the design of your home etc… Some such values should be measured quite accurately.
For starters, windows conserve 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, residents of Shelton, can expect to notice significant declines on annual bill for energy. If you already have dual pane windows you may save approximately $200.93 compared to $172 in Hartford. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $619.47 per year, compared to $439 in Hartford.
Increase your Shelton Home’s Resale Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows could increase 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to determine : What’s the return on investment on energy savings on the market? This is what we estimated in Shelton:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Shelton, your home value could increase by around $1205.56 and $1764.13 for a mid-tier or top-tier Shelton home respectively. Compare this to, the same replacement in Hartford 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. Shelton homeowners could expect an estimated home value gain of between $3716.82 for mid-tier homes and $5438.94 for the top tier. Compare this to between $2634 and $3854.42 in Hartford.
Another way to look at it, a window upgrade in Shelton can add between 0.37% percent and 1.65 % percent to the asking price of your home through the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Shelton homeowner is quite strong.
The variation between the range for Shelton and Hartford, which for reference, would yield a potential premium range of 0.31% percent and 0.46% percent respectively, is dependent on a number of factors, particularly; the 1.87% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Bridgeport-Stamford-Norwalk region, and heating & cooling cost differences between Shelton and Hartford.
The data presented is derived from EnergyStar, the NREL,Department of Energy and professional research executed by the NAHB. Shelton 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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