Description
Value You Can Measure
Clinton property owners have a whole host good reasons to change their windows. Upgrading old windows, changing the decor of your home etc… Many such values should be quantified relatively precisely.
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 puts windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, houses in Clinton, can expect to see considerable drops on weekly expenditures for home energy. If you already have dual pane windows you may save around $108.47 compared to $114 in Boston. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $303.23 per year, compared to $344 in Boston.
Build your Clinton Home’s Value through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may increase the asking 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 determine : What’s the return on investment on energy savings on the market? Below is what we uncovered in Clinton:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Clinton, your home value could increase by around $650.84 and $952.39 for a mid-tier or top-tier Clinton home respectively. For comparison, the same replacement in Boston could add somewhere between $684 and $1000.92.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Clinton homeowners may yield an estimated home value increase of between $1819.38 for mid-tier homes and $2662.36 for the top tier. Compare this to between $2064 and $3020.32 in Boston.
In other words, a window investment in Clinton can add anywhere from 0.22% percent and 0.91 % percent to the sale price of your home via the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Clinton homeowner is quite strong.
The variation between the range for Clinton and Boston, which for reference, would yield a potential premium range of 0.23% percent and 0.34% percent respectively, can be estimated from a number of factors, notably; the -0.54% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Worcester region, and heating & cooling cost differences between Clinton and Boston.
The data presented is derived from EnergyStar, the NREL,Department of Energy and expert research conducted by the NAHB. Clinton 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: Clinton vs the rest of Massachusetts
Find out how investing in new windows in Clinton compares to other nearby Massachusetts cities.