Value You Can Measure
Milton homeowners have plenty excellent reasons to replace their windows. Upgrading old windows, renewing the style of your home etc… Some such values can be counted rather precisely.
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 puts windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, people living in Milton, are likely to have dramatic decreases on monthly bill for heating & cooling. If you already have dual pane windows you could save approximately $199.38 compared to $197 in Burlington. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $569.32 per year, compared to $553 in Burlington.
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Increase your Milton Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows could 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 find out : What’s the return on investment on energy savings on the market? Below is what we discovered in Milton:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Milton, your home value could increase by between $1196.27 and $1750.55 for a mid-tier or top-tier Milton home respectively. For comparison, the same replacement in Burlington could yield somewhere between $1182 and $1729.66.
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Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Milton homeowners may see an estimated home value gain of between $3415.94 for mid-tier homes and $4998.66 for the top tier. Compare this to between $3318 and $4855.34 in Burlington.
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In other words, a window investment in Milton can add between 0.4% percent and 1.67 % 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 Milton homeowner is quite strong.
The variation between the range for Milton and Burlington, which for reference, would yield a potential premium range of 0.39% percent and 0.58% percent respectively, may come from a number of factors, notably; the 0.13% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the Burlington-South Burlington region, and energy price differences between Milton and Burlington.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and professional research performed by the NAHB. Milton home value data is provided by Zillow.
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