Value You Can Measure
Dedham residents have a variety good reasons to change their windows. Replacing damaged windows, revamping the aesthetics of your home etc… Some such values may be measured relatively accurately.
First of all, windows retain 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, people living in Dedham, are likely to see impressive reductions on monthly expenditures for home energy. If you already have dual pane windows you could save approximately $112.43 compared to $114 in Boston. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $332.44 annually, compared to $344 in Boston.
Increase your Dedham Home’s Value 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to ascertain : What’s the ROI on energy savings on the market? The following is what we uncovered in Dedham:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Dedham, your home value could increase by around $1187.29 and $1655.69 for a mid-tier or top-tier Dedham home respectively. Compare this to, the same upgrade 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. Dedham homeowners could yield an estimated home value increase of between $3510.58 for mid-tier homes and $4895.54 for the top tier. Compare this to between $3632.64 and $5065.74 in Boston.
Put differently, a window upgrade in Dedham can add between 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 Dedham homeowner is quite strong.
The variation between the range for Dedham and Boston, which for reference, would yield a potential premium range of 0.22% percent and 0.31% percent respectively, may come from a number of factors, particularly; the -0.15% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the Boston-Cambridge-Newton region, and energy cost differences between Dedham and Boston.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and professional research done by the NAHB. Dedham home value data is provided by Zillow.
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