Description
Value You Can Measure
Sharon homeowners have plenty good reasons to replace their windows. Upgrading old windows, changing the decor of your home etc… Other such benefits should be counted rather clearly.
For starters, windows conserve 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, homes in Sharon, will most probably notice important declines on daily costs for energy. If you already have dual pane windows you may save around $113.15 compared to $114 in Boston. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $337.7 annually, compared to $344 in Boston.
Improve your Sharon Home’s Resale Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows could 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 estimate : What’s the ROI on energy savings when selling the house? What follows is what we estimated in Sharon:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Sharon, your home value could increase by around $1194.82 and $1666.18 for a mid-tier or top-tier Sharon home respectively. For comparison, the same upgrade in Boston may get you 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. Sharon homeowners may expect an estimated home value gain of between $3566.08 for mid-tier homes and $4972.93 for the top tier. Compare this to between $3632.64 and $5065.74 in Boston.
Another way to look at it, a window upgrade in Sharon can add between 0.21% percent and 0.85 % percent to the asking price of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Sharon homeowner is relatively clear.
The variation between the range for Sharon and Boston, which for reference, would yield a potential premium range of 0.21% percent and 0.29% percent respectively, is derived from a number of factors, notably; the -0.08% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the Boston-Cambridge-Newton region, and energy price differences between Sharon and Boston.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and meticulous research executed by the National Association of Homebuilders. Sharon 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: Sharon vs the rest of Massachusetts
Find out how investing in new windows in Sharon compares to other nearby Massachusetts cities.