Value You Can Measure
South Coventry property owners have many valid reasons to replace their windows. Repairing leaky windows, renewing the aesthetics of your home etc… Some such values can be quantified relatively accurately.
To start, windows preserve 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.
With regards to energy savings, homeowners in South Coventry, can expect to experience major drops on monthly spending for home energy. If you already have dual pane windows you may save approximately $189.28 compared to $172 in Hartford. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $546.83 every year, compared to $439 in Hartford.
Increase your South Coventry Home’s Resale Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows could increase 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to determine : What’s the premium for energy savings when it comes time to sell? Here is what we estimated in South Coventry:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in South Coventry, your home value could increase by around $1135.7 and $1661.91 for a mid-tier or top-tier South Coventry 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. South Coventry homeowners could see an estimated home value increase of between $3281 for mid-tier homes and $4801.2 for the top tier. Compare this to between $2634 and $3854.42 in Hartford.
Another way to look at it, a window investment in South Coventry can add between 0.47% percent and 1.97 % percent to the sale price of your home via the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a South Coventry homeowner is quite strong.
The variation between the range for South Coventry and Hartford, which for reference, would yield a potential premium range of 0.42% percent and 0.62% percent respectively, is derived from a number of factors, especially; the 1.12% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the Hartford-West Hartford-East Hartford region, and energy cost differences between South Coventry and Hartford.
The data presented is based on EnergyStar, the NREL,Department of Energy and professional research executed by the NAHB. South Coventry home value data is provided by Zillow.
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