Value You Can Measure
Dover residents have countless good reasons to change their windows. Replacing leaky windows, renewing the look and feel of your home etc… Many such features should be measured rather exactly.
For starters, 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, homeowners in Dover, should notice important decreases on weekly bill for electricity. If you already have dual pane windows you may save around $122.83 compared to $114 in Boston. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $409.14 per annum, compared to $344 in Boston.
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Increase your Dover Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows can increase 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 figure out : What’s the ROI on energy savings if you put your house up for sale? Below is what we uncovered in Dover:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Dover, your home value could increase by around $1596.8 and $2528.96 for a mid-tier or top-tier Dover home respectively. Compare this to, the same replacement in Boston could add somewhere between $1482 and $2347.15.
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Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Dover homeowners could expect an estimated home value increase of between $5318.77 for mid-tier homes and $8423.71 for the top tier. Compare this to between $4472 and $7082.62 in Boston.
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Another way to look at it, a window upgrade in Dover can add between 0.13% percent and 0.71 % 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 initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Dover homeowner is quite strong.
The variation between the range for Dover and Boston, which for reference, would yield a potential premium range of 0.13% percent and 0.2% percent respectively, may come from a number of factors, particularly; the 0.86% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the Boston-Cambridge-Newton region, and heating & cooling cost differences between Dover and Boston.
The data presented is based on EnergyStar, the NREL,Department of Energy and expert research performed by the National Association of Homebuilders. Dover home value data is provided by Zillow.
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