Description
Value You Can Measure
Norwood residents have countless valid reasons to change their windows. Fixing leaky windows, refining the decor of your home etc… Many such features can be counted quite explicitly.
Firstly, 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 Norwood, should notice dramatic savings on monthly spending for heating & cooling. If you already have dual pane windows you may save around $134.3 compared to $100 in Atlantic City. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $503.73 per year, compared to $274 in Atlantic City.
Increase your Norwood Home’s Resale Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows can 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to figure out : What’s the return on energy savings if you put your house up for sale? This 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 between $1418.2 and $1977.68 for a mid-tier or top-tier Norwood home respectively. Compare this to, the same replacement in Atlantic City could add somewhere between $1056 and $1472.6.
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 $5319.35 for mid-tier homes and $7417.87 for the top tier. Compare this to between $2893.44 and $4034.92 in Atlantic City.
In other words, a window investment in Norwood can add between 0.26% percent and 1.34 % percent to the asking price 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 Norwood homeowner is relatively clear.
The variation between the range for Norwood and Atlantic City, which for reference, would yield a potential premium range of 0.19% percent and 0.27% percent respectively, can be estimated from a number of factors, especially; the 3.81% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the New York-Newark-Jersey City region, and energy price differences between Norwood and Atlantic City.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research executed by the National Association of Homebuilders. Norwood 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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