Description
Value You Can Measure
Moosup property owners have many good reasons to change their windows. Fixing old windows, revamping the decor of your home etc… Certain such benefits should be quantified rather clearly.
For starters, windows conserve 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.
With regards to energy savings, homes in Moosup, should experience significant decreases on monthly expenditures for energy. If you already have dual pane windows you may save approximately $181.68 compared to $172 in Hartford. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $499.4 every year, compared to $439 in Hartford.
Improve your Moosup Home’s Asking Price 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to ascertain : What’s the ROI on energy savings if you sell your home? This is what we uncovered in Moosup:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Moosup, your home value could increase by between $1090.09 and $1595.17 for a mid-tier or top-tier Moosup home respectively. Compare this to, 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. Moosup homeowners could yield an estimated home value increase of between $2996.43 for mid-tier homes and $4384.77 for the top tier. Compare this to between $2634 and $3854.42 in Hartford.
Put differently, a window investment in Moosup can add anywhere from 0.58% percent and 2.34 % percent to the sale price of your home through 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 Moosup homeowner is quite clear.
The variation between the range for Moosup and Hartford, which for reference, would yield a potential premium range of 0.55% percent and 0.81% percent respectively, can be estimated from a number of factors, particularly; the 0.63% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the Worcester region, and energy price differences between Moosup and Hartford.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and meticulous research executed by the National Association of Homebuilders. Moosup 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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