Description
Value You Can Measure
North Brookfield residents have a whole host valid reasons to replace their windows. Updating old windows, improving the style of your home etc… Certain such benefits can be measured relatively clearly.
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.
As for energy savings, homes in North Brookfield, should experience large declines on monthly costs for home energy. If you already have dual pane windows you could save approximately $107.61 compared to $114 in Boston. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $296.89 per annum, compared to $344 in Boston.
Grow your North Brookfield Home’s Value through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows can 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 evaluate : What’s the premium for energy savings if you sell your home? Here is what we uncovered in North Brookfield:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in North Brookfield, your home value could increase by around $645.68 and $944.84 for a mid-tier or top-tier North Brookfield home respectively. For comparison, the same replacement in Boston could add somewhere between $684 and $1000.92.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. North Brookfield homeowners may expect an estimated home value increase of between $1781.32 for mid-tier homes and $2606.67 for the top tier. Compare this to between $2064 and $3020.32 in Boston.
Another way to look at it, a window investment in North Brookfield can add between 0.27% percent and 1.09 % percent to the value of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a North Brookfield homeowner is relatively clear.
The variation between the range for North Brookfield and Boston, which for reference, would yield a potential premium range of 0.29% percent and 0.42% percent respectively, can be estimated from a number of factors, especially; the -0.62% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Worcester region, and heating & cooling price differences between North Brookfield and Boston.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and expert research executed by the National Association of Homebuilders. North Brookfield 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: North Brookfield vs the rest of Massachusetts
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