Value You Can Measure
Windsor Locks homeowners have a whole host good reasons to change their windows. Updating old windows, changing the style of your home etc… Many such values should be counted rather 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 places windows among the top 5 home improvement investments in terms of value retention.
In terms of energy savings, houses in Windsor Locks, should see impressive decreases on annual expenditures for home energy. If you already have dual pane windows you may save around $182.92 compared to $172 in Hartford. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $507.11 annually, compared to $439 in Hartford.
Increase your Windsor Locks Home’s Resale Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows can 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to figure out : What’s the premium for energy savings if you put your house up for sale? The following is what we discovered in Windsor Locks:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Windsor Locks, your home value could increase by between $1097.5 and $1606.01 for a mid-tier or top-tier Windsor Locks 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. Windsor Locks homeowners may yield an estimated home value gain of between $3042.66 for mid-tier homes and $4452.43 for the top tier. Compare this to between $2634 and $3854.42 in Hartford.
In other words, a window investment in Windsor Locks can add between 0.56% percent and 2.27 % percent to the value of your home through 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 Windsor Locks homeowner is relatively clear.
The variation between the range for Windsor Locks and Hartford, which for reference, would yield a potential premium range of 0.53% percent and 0.77% percent respectively, can be estimated from a number of factors, in particular; the 0.71% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Hartford-West Hartford-East Hartford region, and energy cost differences between Windsor Locks and Hartford.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and extensive research conducted by the National Association of Homebuilders. Windsor Locks home value data is provided by Zillow.
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