Description
Value You Can Measure
Marshfield residents have a variety excellent reasons to change their windows. Fixing broken windows, revamping the look and feel of your home etc… Some such values should be counted relatively explicitly.
Firstly, 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.
In terms of energy savings, households located in Marshfield, can expect to see large decreases on monthly spending for heating & cooling. If you already have dual pane windows you may save about $111.38 compared to $114 in Boston. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $324.66 every year, compared to $344 in Boston.
Build your Marshfield Home’s Asking Price through Energy Savings
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Upgrading 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to determine : What’s the premium for energy savings if you put your house up for sale? The following is what we discovered in Marshfield:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Marshfield, your home value could increase by between $668.27 and $977.9 for a mid-tier or top-tier Marshfield home respectively. Compare this to, the same upgrade in Boston may get you somewhere between $684 and $1000.92.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Marshfield homeowners could see an estimated home value gain of between $1947.94 for mid-tier homes and $2850.49 for the top tier. Compare this to between $2064 and $3020.32 in Boston.
Put differently, a window investment in Marshfield can add anywhere from 0.14% percent and 0.6 % percent to the sale price of your home through 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 Marshfield homeowner is relatively strong.
The variation between the range for Marshfield and Boston, which for reference, would yield a potential premium range of 0.14% percent and 0.21% percent respectively, is dependent on a number of factors, primarily; the -0.26% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the Boston-Cambridge-Newton region, and energy price differences between Marshfield and Boston.
The data presented is based on EnergyStar, the NREL,Department of Energy and expert research done by the NAHB. Marshfield 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: Marshfield vs the rest of Massachusetts
Find out how investing in new windows in Marshfield compares to other nearby Massachusetts cities.