Value You Can Measure
Fitchburg residents have a whole host great reasons to replace their windows. Repairing leaky windows, revamping the decor of your home etc… Many such benefits should be quantified relatively precisely.
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.
With regards to energy savings, people living in Fitchburg, should notice important savings on weekly costs for home energy. If you already have dual pane windows you may save approximately $107.48 compared to $114 in Boston. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $295.88 per annum, compared to $344 in Boston.
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Improve your Fitchburg Home’s Value through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows may add to 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to estimate : What’s the ROI on energy savings on the market? Below is what we uncovered in Fitchburg:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Fitchburg, your home value could increase by between $644.86 and $943.64 for a mid-tier or top-tier Fitchburg home respectively. Compare this to, the same replacement in Boston could add 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. Fitchburg homeowners could expect an estimated home value increase of between $1775.28 for mid-tier homes and $2597.83 for the top tier. Compare this to between $2064 and $3020.32 in Boston.
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Another way to look at it, a window upgrade in Fitchburg can add between 0.28% percent and 1.12 % percent to the value of your home via the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Fitchburg homeowner is relatively strong.
The variation between the range for Fitchburg and Boston, which for reference, would yield a potential premium range of 0.3% percent and 0.43% percent respectively, is derived from a number of factors, especially; the -0.64% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Worcester region, and heating & cooling cost differences between Fitchburg and Boston.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and professional research executed by the NAHB. Fitchburg home value data is provided by Zillow.
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