Value You Can Measure
Haverhill homeowners have many strong reasons to change their windows. Fixing broken windows, changing the design of your home etc… Other such features may be counted rather clearly.
To start, windows preserve about 72.3 percent of their initial purchase value in New England according to the Remodeling 2020 Cost vs. Value Report. This puts windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, homeowners in Haverhill, could have major drops on annual spending for home energy. If you already have dual pane windows you could save about $109.26 compared to $114 in Boston. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $309.05 every year, compared to $344 in Boston.
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Build your Haverhill Home’s Value through Energy Savings
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Replacing 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 determine : What’s the return on investment on energy savings when selling the house? Here is what we discovered in Haverhill:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Haverhill, your home value could increase by between $655.57 and $959.32 for a mid-tier or top-tier Haverhill home respectively. For comparison, the same replacement in Boston may get you 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. Haverhill homeowners could see an estimated home value gain of between $1854.3 for mid-tier homes and $2713.45 for the top tier. Compare this to between $2064 and $3020.32 in Boston.
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Put differently, a window upgrade in Haverhill can add anywhere from 0.19% percent and 0.79 % percent to the asking price of your home via the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Haverhill homeowner is relatively strong.
The variation between the range for Haverhill and Boston, which for reference, would yield a potential premium range of 0.2% percent and 0.29% percent respectively, is dependent on a number of factors, especially; the -0.46% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the Boston-Cambridge-Newton region, and heating & cooling price differences between Haverhill and Boston.
The data presented is derived from EnergyStar, the NREL,Department of Energy and extensive research done by the NAHB. Haverhill home value data is provided by Zillow.
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