Description
Value You Can Measure
North Falmouth homeowners have a variety valid reasons to change their windows. Updating damaged windows, refining the look and feel of your home etc… Many such benefits may be calculated quite clearly.
To begin with, windows maintain 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.
As for energy savings, homeowners in North Falmouth, will most probably have significant decreases on monthly expenditures for electricity. If you already have dual pane windows you could save about $112.83 compared to $114 in Boston. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $335.34 per annum, compared to $344 in Boston.
Grow your North Falmouth Home’s Asking Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows could add to the value 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 premium for energy savings when it comes time to sell? This is what we discovered in North Falmouth:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in North Falmouth, your home value could increase by between $1191.45 and $1661.48 for a mid-tier or top-tier North Falmouth home respectively. For comparison, the same upgrade in Boston could yield somewhere between $1203.84 and $1678.76.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. North Falmouth homeowners could expect an estimated home value gain of between $3541.22 for mid-tier homes and $4938.26 for the top tier. Compare this to between $3632.64 and $5065.74 in Boston.
In other words, a window investment in North Falmouth can add between 0.21% percent and 0.88 % percent to the value of your home by way of 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 North Falmouth homeowner is quite clear.
The variation between the range for North Falmouth and Boston, which for reference, would yield a potential premium range of 0.21% percent and 0.3% percent respectively, can be estimated from a number of factors, especially; the -0.11% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the Barnstable Town region, and energy price differences between North Falmouth and Boston.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research performed by the NAHB. North Falmouth 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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Energy Savings & ROI: North Falmouth vs the rest of Massachusetts
Find out how investing in new windows in North Falmouth compares to other nearby Massachusetts cities.