Value You Can Measure
Deerfield residents have countless excellent reasons to replace their windows. Upgrading leaky windows, refining the look and feel of your home etc… Many such values may be counted relatively clearly.
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.
As for energy savings, people living in Deerfield, may notice considerable reductions on weekly expenditures for electricity. If you already have dual pane windows you may save around $108.37 compared to $114 in Boston. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $302.47 per annum, compared to $344 in Boston.
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Improve your Deerfield Home’s Asking Price through Energy Savings
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Replacing 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to estimate : What’s the return on investment on energy savings when selling the house? What follows is what we found in Deerfield:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Deerfield, your home value could increase by around $650.22 and $951.48 for a mid-tier or top-tier Deerfield home respectively. For comparison, the same replacement in Boston may get you somewhere between $684 and $1000.92.
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Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Deerfield homeowners may expect an estimated home value gain of between $1814.8 for mid-tier homes and $2655.65 for the top tier. Compare this to between $2064 and $3020.32 in Boston.
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In other words, a window upgrade in Deerfield can add between 0.23% percent and 0.93 % percent to the asking price of your home by way of 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 Deerfield homeowner is quite strong.
The variation between the range for Deerfield and Boston, which for reference, would yield a potential premium range of 0.24% percent and 0.35% percent respectively, is derived from a number of factors, particularly; the -0.55% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Greenfield Town region, and heating & cooling price differences between Deerfield and Boston.
The data presented is derived from EnergyStar, the NREL,Department of Energy and expert research conducted by the National Association of Homebuilders. Deerfield home value data is provided by Zillow.
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