Description
Value You Can Measure
Hanson residents have a multitude good reasons to change their windows. Fixing broken windows, revamping the design of your home etc… Some such benefits may be counted relatively explicitly.
For starters, 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, homeowners in Hanson, will most probably notice impressive savings on weekly spending for energy. If you already have dual pane windows you may save approximately $110.43 compared to $114 in Boston. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $317.68 per annum, compared to $344 in Boston.
Build your Hanson Home’s Resale Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may add to 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to evaluate : What’s the ROI on energy savings if you put your house up for sale? The following is what we found in Hanson:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Hanson, your home value could increase by between $662.59 and $969.59 for a mid-tier or top-tier Hanson home respectively. Compare this to, the same replacement in Boston could yield somewhere between $684 and $1000.92.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Hanson homeowners may see an estimated home value gain of between $1906.06 for mid-tier homes and $2789.21 for the top tier. Compare this to between $2064 and $3020.32 in Boston.
Another way to look at it, a window investment in Hanson can add anywhere from 0.16% percent and 0.67 % percent to the sale price of your home through the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Hanson homeowner is quite strong.
The variation between the range for Hanson and Boston, which for reference, would yield a potential premium range of 0.16% percent and 0.24% percent respectively, can be estimated from a number of factors, particularly; the -0.35% 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 energy price differences between Hanson and Boston.
The data presented is based on EnergyStar, the NREL,Department of Energy and meticulous research executed by the NAHB. Hanson 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: Hanson vs the rest of Massachusetts
Find out how investing in new windows in Hanson compares to other nearby Massachusetts cities.