Description
Value You Can Measure
Scituate residents have countless valid reasons to replace their windows. Repairing broken windows, refining the decor of your home etc… Certain such values can be counted quite accurately.
Firstly, windows maintain 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, homeowners in Scituate, will most probably have important savings on monthly costs for home energy. If you already have dual pane windows you may save approximately $113.39 compared to $114 in Boston. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $339.49 annually, compared to $344 in Boston.
Improve your Scituate Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows can add to 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 answer the question : What’s the premium for energy savings if you put your house up for sale? Below is what we discovered in Scituate:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Scituate, your home value could increase by between $1197.39 and $1669.76 for a mid-tier or top-tier Scituate home respectively. For comparison, 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. Scituate homeowners could see an estimated home value increase of between $3585.04 for mid-tier homes and $4999.36 for the top tier. Compare this to between $3632.64 and $5065.74 in Boston.
Put differently, a window upgrade in Scituate can add between 0.2% percent and 0.84 % percent to the sale price of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Scituate homeowner is quite strong.
The variation between the range for Scituate and Boston, which for reference, would yield a potential premium range of 0.2% percent and 0.28% percent respectively, is dependent on a number of factors, notably; the -0.06% 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 Scituate and Boston.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research done by the NAHB. Scituate 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: Scituate vs the rest of Massachusetts
Find out how investing in new windows in Scituate compares to other nearby Massachusetts cities.