Description
Value You Can Measure
Rowley homeowners have a whole host great reasons to replace their windows. Updating damaged windows, refining the look and feel of your home etc… Some such features can be counted quite clearly.
To begin with, 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.
With regards to energy savings, people living in Rowley, can expect to have large decreases on daily spending for home energy. If you already have dual pane windows you could save about $112.2 compared to $114 in Boston. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $330.75 per annum, compared to $344 in Boston.
Improve your Rowley Home’s Asking Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows may add to 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 ascertain : What’s the premium for energy savings when selling the house? Here is what we discovered in Rowley:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Rowley, your home value could increase by between $1184.87 and $1652.31 for a mid-tier or top-tier Rowley home respectively. For comparison, the same upgrade 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. Rowley homeowners could see an estimated home value gain of between $3492.73 for mid-tier homes and $4870.64 for the top tier. Compare this to between $3632.64 and $5065.74 in Boston.
In other words, a window upgrade in Rowley can add between 0.23% percent and 0.93 % percent to the sale 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 Rowley homeowner is relatively clear.
The variation between the range for Rowley and Boston, which for reference, would yield a potential premium range of 0.23% percent and 0.32% percent respectively, can be estimated from a number of factors, particularly; the -0.18% 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 Rowley and Boston.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research executed by the National Association of Homebuilders. Rowley 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: Rowley vs the rest of Massachusetts
Find out how investing in new windows in Rowley compares to other nearby Massachusetts cities.