Description
Value You Can Measure
Troy homeowners have a whole host strong reasons to replace their windows. Updating broken windows, revamping the style of your home etc… Some such values may be quantified rather accurately.
First of all, 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.
In terms of energy savings, people living in Troy, could experience significant declines on daily bill for electricity. If you already have dual pane windows you could save approximately $167.42 compared to $172 in Concord. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $441.3 per annum, compared to $472 in Concord.
Increase your Troy 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 ascertain : What’s the premium for energy savings on the market? What follows is what we uncovered in Troy:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Troy, your home value could increase by between $1004.54 and $1469.98 for a mid-tier or top-tier Troy home respectively. Compare this to, the same replacement in Concord 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. Troy homeowners could see an estimated home value increase of between $2647.79 for mid-tier homes and $3874.6 for the top tier. Compare this to between $2832 and $4144.16 in Concord.
In other words, a window upgrade in Troy can add between 0.56% percent and 2.18 % percent to the value of your home via the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Troy homeowner is relatively strong.
The variation between the range for Troy and Concord, which for reference, would yield a potential premium range of 0.58% percent and 0.85% percent respectively, is dependent on a number of factors, notably; the -0.3% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the Keene region, and heating & cooling cost differences between Troy and Concord.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and meticulous research performed by the NAHB. Troy 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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