Value You Can Measure
Northfield residents have plenty great reasons to upgrade their windows. Fixing leaky windows, improving the style of your home etc… Some such values should be counted quite exactly.
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 places windows among the top 5 home improvement investments in terms of value retention.
With regards to energy savings, households located in Northfield, may see impressive savings on weekly spending for heating & cooling. If you already have dual pane windows you may save approximately $205.2 compared to $197 in Burlington. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $609.27 every year, compared to $553 in Burlington.
Grow your Northfield Home’s Value through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows could increase 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to estimate : What’s the premium for energy savings if you sell your home? This is what we discovered in Northfield:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Northfield, your home value could increase by between $1231.2 and $1801.66 for a mid-tier or top-tier Northfield home respectively. For comparison, the same upgrade in Burlington may get you somewhere between $1182 and $1729.66.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Northfield homeowners may see an estimated home value gain of between $3655.6 for mid-tier homes and $5349.36 for the top tier. Compare this to between $3318 and $4855.34 in Burlington.
Another way to look at it, a window upgrade in Northfield can add anywhere from 0.66% percent and 2.88 % percent to the value of your home via 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 Northfield homeowner is quite clear.
The variation between the range for Northfield and Burlington, which for reference, would yield a potential premium range of 0.64% percent and 0.93% percent respectively, is derived from a number of factors, primarily; 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 Barre region, and energy cost differences between Northfield and Burlington.
The data presented is based on EnergyStar, the NREL,Department of Energy and professional research performed by the National Association of Homebuilders. Northfield home value data is provided by Zillow.
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