Description
Value You Can Measure
Duxbury property owners have plenty great reasons to change their windows. Upgrading old windows, changing the style of your home etc… Some such benefits may be quantified relatively explicitly.
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 sets windows among the top 5 home improvement investments in terms of value retention.
With regards to energy savings, people living in Duxbury, are likely to notice considerable reductions on weekly bill for heating & cooling. If you already have dual pane windows you could save about $114.08 compared to $114 in Boston. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $344.58 per year, compared to $344 in Boston.
Improve your Duxbury Home’s Resale Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows can 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 estimate : What’s the premium for energy savings if you sell your home? Here is what we estimated in Duxbury:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Duxbury, your home value could increase by around $1204.67 and $1679.93 for a mid-tier or top-tier Duxbury home respectively. For comparison, 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. Duxbury homeowners could expect an estimated home value gain of between $3638.79 for mid-tier homes and $5074.32 for the top tier. Compare this to between $3632.64 and $5065.74 in Boston.
In other words, a window investment in Duxbury can add between 0.19% percent and 0.79 % percent to the value 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 worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Duxbury homeowner is quite strong.
The variation between the range for Duxbury and Boston, which for reference, would yield a potential premium range of 0.19% percent and 0.26% percent respectively, can be estimated from a number of factors, especially; the 0.01% 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 heating & cooling price differences between Duxbury and Boston.
The data presented is derived from EnergyStar, the NREL,Department of Energy and meticulous research executed by the NAHB. Duxbury 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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