Value You Can Measure
Provincetown property owners have a variety excellent reasons to change their windows. Upgrading leaky windows, improving the style of your home etc… Many such values can be counted rather clearly.
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.
As for energy savings, residents of Provincetown, are likely to experience impressive drops on annual costs for home energy. If you already have dual pane windows you may save about $113.37 compared to $114 in Boston. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $339.36 annually, compared to $344 in Boston.
Build your Provincetown Home’s Resale Price through Energy Savings
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Replacing 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 estimate : What’s the return on energy savings when selling the house? What follows is what we discovered in Provincetown:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Provincetown, your home value could increase by between $1197.2 and $1669.5 for a mid-tier or top-tier Provincetown home respectively. Compare this to, the same replacement in Boston could yield somewhere between $1203.84 and $1678.76.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Provincetown homeowners could expect an estimated home value gain of between $3583.65 for mid-tier homes and $4997.42 for the top tier. Compare this to between $3632.64 and $5065.74 in Boston.
Another way to look at it, a window investment in Provincetown can add anywhere from 0.2% percent and 0.84 % percent to the value of your home through 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 Provincetown homeowner is quite strong.
The variation between the range for Provincetown and Boston, which for reference, would yield a potential premium range of 0.2% percent and 0.28% percent respectively, can be estimated from a number of factors, especially; the -0.06% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the Barnstable Town region, and heating & cooling cost differences between Provincetown and Boston.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and professional research done by the National Association of Homebuilders. Provincetown home value data is provided by Zillow.
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