Description
Value You Can Measure
Boxford residents have countless good reasons to upgrade their windows. Updating old windows, refining the style of your home etc… Many such values should be calculated relatively explicitly.
To begin with, 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.
With regards to energy savings, houses in Boxford, can expect to see significant decreases on annual bill for energy. If you already have dual pane windows you may save approximately $114.92 compared to $114 in Boston. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $350.77 every year, compared to $344 in Boston.
Build your Boxford Home’s Value through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows can increase 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to figure out : What’s the return on investment on energy savings if you put your house up for sale? What follows is what we estimated in Boxford:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Boxford, your home value could increase by between $1213.54 and $1692.29 for a mid-tier or top-tier Boxford home respectively. For comparison, the same replacement in Boston may get you 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. Boxford homeowners may see an estimated home value gain of between $3704.18 for mid-tier homes and $5165.51 for the top tier. Compare this to between $3632.64 and $5065.74 in Boston.
In other words, a window upgrade in Boxford can add between 0.18% percent and 0.75 % 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 initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Boxford homeowner is relatively strong.
The variation between the range for Boxford and Boston, which for reference, would yield a potential premium range of 0.17% percent and 0.24% percent respectively, is dependent on a number of factors, in particular; the 0.09% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the Boston-Cambridge-Newton region, and heating & cooling cost differences between Boxford and Boston.
The data presented is based on EnergyStar, the NREL,Department of Energy and incredible research conducted by the NAHB. Boxford 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: Boxford vs the rest of Massachusetts
Find out how investing in new windows in Boxford compares to other nearby Massachusetts cities.