Description
Value You Can Measure
Salisbury property owners have many strong reasons to upgrade their windows. Updating broken windows, renewing the decor of your home etc… Many such values should be measured quite exactly.
To start, windows conserve 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.
As for energy savings, homeowners in Salisbury, can expect to notice impressive savings on daily spending for electricity. If you already have dual pane windows you could save approximately $110.06 compared to $114 in Boston. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $314.93 per year, compared to $344 in Boston.
Grow your Salisbury Home’s Value 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to ascertain : What’s the return on investment on energy savings when it comes time to sell? This is what we uncovered in Salisbury:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Salisbury, your home value could increase by between $660.36 and $966.32 for a mid-tier or top-tier Salisbury home respectively. Compare this to, the same upgrade in Boston could yield somewhere between $684 and $1000.92.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Salisbury homeowners may see an estimated home value gain of between $1889.6 for mid-tier homes and $2765.11 for the top tier. Compare this to between $2064 and $3020.32 in Boston.
Another way to look at it, a window investment in Salisbury can add anywhere from 0.17% percent and 0.71 % percent to the asking price 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 Salisbury homeowner is relatively strong.
The variation between the range for Salisbury and Boston, which for reference, would yield a potential premium range of 0.17% percent and 0.26% percent respectively, may come from a number of factors, primarily; the -0.38% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the Boston-Cambridge-Newton region, and heating & cooling cost differences between Salisbury and Boston.
The data presented is based on EnergyStar, the NREL,Department of Energy and expert research performed by the National Association of Homebuilders. Salisbury 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: Salisbury vs the rest of Massachusetts
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