Description
Value You Can Measure
Stratford homeowners have a multitude valid reasons to replace their windows. Repairing leaky windows, improving the style of your home etc… Many such features may be calculated quite accurately.
To start, windows retain 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.
In terms of energy savings, people living in Stratford, should notice major decreases on monthly spending for home energy. If you already have dual pane windows you may save approximately $191.14 compared to $172 in Hartford. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $558.39 every year, compared to $439 in Hartford.
Build your Stratford Home’s Value 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 evaluate : What’s the return on energy savings if you sell your home? Here is what we found in Stratford:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Stratford, your home value could increase by around $1146.82 and $1678.18 for a mid-tier or top-tier Stratford home respectively. For comparison, the same upgrade 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. Stratford homeowners may see an estimated home value increase of between $3350.36 for mid-tier homes and $4902.7 for the top tier. Compare this to between $2634 and $3854.42 in Hartford.
Put differently, a window upgrade in Stratford can add anywhere from 0.45% percent and 1.9 % percent to the asking price of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Stratford homeowner is quite strong.
The variation between the range for Stratford and Hartford, which for reference, would yield a potential premium range of 0.4% percent and 0.59% percent respectively, is dependent on a number of factors, especially; the 1.24% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the Bridgeport-Stamford-Norwalk region, and energy price differences between Stratford and Hartford.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and expert research executed by the NAHB. Stratford 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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