Savings Category: Replacement Window Savings

Description

Value You Can Measure

Norwood property owners have many great reasons to upgrade their windows. Fixing damaged windows, refining the decor of your home etc… Certain such benefits may be quantified rather exactly.

To begin with, windows retain 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, houses in Norwood, can expect to experience impressive decreases on weekly bill for energy. If you already have dual pane windows you could save around $111.76 compared to $114 in Boston. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $327.51 annually, compared to $344 in Boston.

Increase your Norwood Home’s Asking Price through Energy Savings

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Replacing your windows to EnergyStar rated National Vinyl windows may 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 answer the question : What’s the ROI on energy savings when it comes time to sell? Below is what we estimated in Norwood:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Norwood, your home value could increase by around $670.58 and $981.29 for a mid-tier or top-tier Norwood home respectively. For comparison, 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. Norwood homeowners could expect an estimated home value gain of between $1965.03 for mid-tier homes and $2875.5 for the top tier. Compare this to between $2064 and $3020.32 in Boston.

Another way to look at it, a window upgrade in Norwood can add between 0.13% percent and 0.58 % percent to the asking price of your home through the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Norwood homeowner is quite clear.

The variation between the range for Norwood and Boston, which for reference, would yield a potential premium range of 0.14% percent and 0.2% percent respectively, may come from a number of factors, principally; the -0.22% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the Boston-Cambridge-Newton region, and energy price differences between Norwood and Boston.

The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and expert research executed by the NAHB. Norwood home value data is provided by Zillow.

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