Value You Can Measure
Medford homeowners have a multitude strong reasons to change their windows. Upgrading leaky windows, improving the decor of your home etc… Many such features can be measured relatively accurately.
To start, windows conserve 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.
In terms of energy savings, homes in Medford, may notice major decreases on monthly bill for electricity. If you already have dual pane windows you could save about $211.18 compared to $174 in Buffalo. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $688.08 every year, compared to $452 in Buffalo.
Grow your Medford Home’s Resale Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows could 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 evaluate : What’s the premium for energy savings if you put your house up for sale? What follows is what we found in Medford:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Medford, your home value could increase by around $1267.07 and $1854.15 for a mid-tier or top-tier Medford home respectively. Compare this to, the same upgrade in Buffalo could add somewhere between $1044 and $1527.72.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Medford homeowners could yield an estimated home value increase of between $4128.5 for mid-tier homes and $6041.37 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.
Another way to look at it, a window upgrade in Medford can add anywhere from 0.36% percent and 1.71 % percent to the sale price of your home via 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 Medford homeowner is quite strong.
The variation between the range for Medford and Buffalo, which for reference, would yield a potential premium range of 0.3% percent and 0.43% percent respectively, is dependent on a number of factors, in particular; the 2.37% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the New York-Newark-Jersey City region, and energy cost differences between Medford and Buffalo.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research done by the NAHB. Medford home value data is provided by Zillow.
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