Value You Can Measure
Wilton homeowners have a multitude valid reasons to upgrade their windows. Repairing old windows, renewing the look and feel of your home etc… Some such features may be counted quite clearly.
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 puts windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, homes in Wilton, will most probably experience large declines on annual spending for energy. If you already have dual pane windows you could save approximately $174.31 compared to $172 in Concord. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $487.48 annually, compared to $472 in Concord.
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Improve your Wilton Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may 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.
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 when selling the house? The following is what we found in Wilton:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Wilton, your home value could increase by around $1045.84 and $1530.42 for a mid-tier or top-tier Wilton home respectively. For comparison, the same replacement in Concord could add somewhere between $1032 and $1510.16.
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Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Wilton homeowners could expect an estimated home value increase of between $2924.87 for mid-tier homes and $4280.06 for the top tier. Compare this to between $2832 and $4144.16 in Concord.
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Another way to look at it, a window investment in Wilton can add between 0.36% percent and 1.47 % percent to the sale 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 upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Wilton homeowner is quite strong.
The variation between the range for Wilton and Concord, which for reference, would yield a potential premium range of 0.36% percent and 0.52% percent respectively, is derived from a number of factors, in particular; the 0.15% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Manchester-Nashua region, and heating & cooling price differences between Wilton and Concord.
The data presented is based on EnergyStar, the NREL,Department of Energy and meticulous research done by the National Association of Homebuilders. Wilton home value data is provided by Zillow.
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