Value You Can Measure
Brookfield homeowners have a variety valid reasons to change their windows. Replacing leaky windows, improving the style of your home etc… Many such features may be quantified quite explicitly.
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 puts windows among the top 5 home improvement investments in terms of value retention.
With regards to energy savings, houses in Brookfield, will most probably see major decreases on weekly costs for heating & cooling. If you already have dual pane windows you could save about $107.82 compared to $114 in Boston. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $298.43 per annum, compared to $344 in Boston.
Increase your Brookfield Home’s Resale Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows could add to 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 evaluate : What’s the return on energy savings on the market? The following is what we discovered in Brookfield:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Brookfield, your home value could increase by around $646.93 and $946.68 for a mid-tier or top-tier Brookfield home respectively. Compare this to, the same replacement in Boston may get you somewhere between $684 and $1000.92.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Brookfield homeowners may see an estimated home value gain of between $1790.58 for mid-tier homes and $2620.22 for the top tier. Compare this to between $2064 and $3020.32 in Boston.
Put differently, a window investment in Brookfield can add anywhere from 0.26% percent and 1.04 % percent to the asking price of your home via the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Brookfield homeowner is quite strong.
The variation between the range for Brookfield and Boston, which for reference, would yield a potential premium range of 0.27% percent and 0.4% percent respectively, can be estimated from a number of factors, in particular; the -0.6% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Worcester region, and energy cost differences between Brookfield and Boston.
The data presented is based on EnergyStar, the NREL,Department of Energy and extensive research conducted by the National Association of Homebuilders. Brookfield home value data is provided by Zillow.
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