Savings Category: Replacement Window Savings

Description

Value You Can Measure

Somerville property owners have plenty strong reasons to upgrade their windows. Replacing old windows, renewing the look and feel of your home etc… Some such values may be quantified relatively exactly.

To begin with, windows retain 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, people living in Somerville, should see considerable declines on weekly costs for heating & cooling. If you already have dual pane windows you may save around $115.97 compared to $114 in Boston. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $358.53 per year, compared to $344 in Boston.

Increase your Somerville Home’s Resale Price through Energy Savings

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Upgrading your windows to EnergyStar rated National Vinyl windows can increase 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 answer the question : What’s the premium for energy savings if you sell your home? Below is what we found in Somerville:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Somerville, your home value could increase by around $1224.65 and $1707.78 for a mid-tier or top-tier Somerville home respectively. For comparison, the same replacement in Boston could add 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. Somerville homeowners may see an estimated home value increase of between $3786.11 for mid-tier homes and $5279.76 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 Somerville can add between 0.16% percent and 0.7 % percent to the sale price of your home via the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Somerville homeowner is quite clear.

The variation between the range for Somerville and Boston, which for reference, would yield a potential premium range of 0.16% percent and 0.22% percent respectively, can be estimated from a number of factors, particularly; the 0.19% 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 heating & cooling cost differences between Somerville and Boston.

The data presented is derived from EnergyStar, the NREL,Department of Energy and extensive research conducted by the NAHB. Somerville home value data is provided by Zillow.

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