Value You Can Measure
East Providence homeowners have a variety valid reasons to replace their windows. Replacing old windows, changing the style of your home etc… Some such benefits should be quantified relatively precisely.
Firstly, windows preserve 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.
With regards to energy savings, residents of East Providence, should have impressive decreases on weekly costs for electricity. If you already have dual pane windows you could save about $118.7 compared to $118 in Providence. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $353.01 every year, compared to $348 in Providence.
Grow your East Providence Home’s Resale Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows can add to 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to find out : What’s the return on energy savings if you sell your home? What follows is what we estimated in East Providence:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in East Providence, your home value could increase by around $712.17 and $1042.15 for a mid-tier or top-tier East Providence home respectively. Compare this to, the same upgrade in Providence may get you somewhere between $708 and $1036.04.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. East Providence homeowners could expect an estimated home value increase of between $2118.09 for mid-tier homes and $3099.47 for the top tier. Compare this to between $2088 and $3055.44 in Providence.
In other words, a window upgrade in East Providence can add between 0.28% percent and 1.21 % 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 value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a East Providence homeowner is relatively clear.
The variation between the range for East Providence and Providence, which for reference, would yield a potential premium range of 0.28% percent and 0.41% percent respectively, is dependent on a number of factors, in particular; the 0.07% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Providence-Warwick region, and heating & cooling cost differences between East Providence and Providence.
The data presented is derived from EnergyStar, the NREL,Department of Energy and incredible research performed by the NAHB. East Providence home value data is provided by Zillow.
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