Description
Value You Can Measure
Forestdale residents have countless excellent reasons to replace their windows. Updating old windows, refining the design of your home etc… Certain such values may be measured quite exactly.
Firstly, windows maintain 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.
As for energy savings, homes in Forestdale, will most probably experience dramatic reductions on annual spending for home energy. If you already have dual pane windows you could save approximately $109.88 compared to $114 in Boston. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $313.61 per annum, compared to $344 in Boston.
Increase your Forestdale Home’s Resale Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows can increase 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to ascertain : What’s the return on investment on energy savings when it comes time to sell? Here is what we uncovered in Forestdale:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Forestdale, your home value could increase by between $659.28 and $964.74 for a mid-tier or top-tier Forestdale home respectively. Compare this to, the same replacement in Boston could add somewhere between $684 and $1000.92.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Forestdale homeowners may see an estimated home value increase of between $1881.65 for mid-tier homes and $2753.48 for the top tier. Compare this to between $2064 and $3020.32 in Boston.
Put differently, a window upgrade in Forestdale can add between 0.17% percent and 0.72 % 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 Forestdale homeowner is relatively clear.
The variation between the range for Forestdale and Boston, which for reference, would yield a potential premium range of 0.18% percent and 0.26% percent respectively, may come from a number of factors, notably; the -0.4% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the Barnstable Town region, and energy cost differences between Forestdale and Boston.
The data presented is based on EnergyStar, the NREL,Department of Energy and expert research done by the NAHB. Forestdale 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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Energy Savings & ROI: Forestdale vs the rest of Massachusetts
Find out how investing in new windows in Forestdale compares to other nearby Massachusetts cities.