Value You Can Measure
Hatfield homeowners have a variety great reasons to upgrade their windows. Replacing leaky windows, changing the design of your home etc… Other such benefits can be measured relatively clearly.
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 places windows among the top 5 home improvement investments in terms of value retention.
With regards to energy savings, houses in Hatfield, are likely to have considerable decreases on weekly spending for energy. If you already have dual pane windows you may save approximately $109.07 compared to $114 in Boston. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $307.61 every year, compared to $344 in Boston.
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Improve your Hatfield Home’s Asking Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows can increase 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to ascertain : What’s the premium for energy savings if you put your house up for sale? What follows is what we uncovered in Hatfield:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Hatfield, your home value could increase by between $654.4 and $957.6 for a mid-tier or top-tier Hatfield 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. Hatfield homeowners may yield an estimated home value increase of between $1845.66 for mid-tier homes and $2700.82 for the top tier. Compare this to between $2064 and $3020.32 in Boston.
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Put differently, a window upgrade in Hatfield can add between 0.2% percent and 0.82 % percent to the value of your home via the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Hatfield homeowner is quite clear.
The variation between the range for Hatfield and Boston, which for reference, would yield a potential premium range of 0.21% percent and 0.3% percent respectively, is dependent on a number of factors, primarily; the -0.48% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Springfield region, and energy price differences between Hatfield and Boston.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and extensive research done by the National Association of Homebuilders. Hatfield home value data is provided by Zillow.
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