Description
Value You Can Measure
Sturbridge residents have a whole host great reasons to change their windows. Updating leaky windows, renewing the look and feel of your home etc… Other such benefits may be quantified relatively exactly.
For starters, 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, people living in Sturbridge, will most probably see considerable savings on daily spending for energy. If you already have dual pane windows you could save about $108.82 compared to $114 in Boston. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $305.79 annually, compared to $344 in Boston.
Build your Sturbridge Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may 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 estimate : What’s the ROI on energy savings when selling the house? Below is what we discovered in Sturbridge:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Sturbridge, your home value could increase by between $652.92 and $955.44 for a mid-tier or top-tier Sturbridge home respectively. For comparison, the same upgrade in Boston may get you somewhere between $684 and $1000.92.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Sturbridge homeowners may expect an estimated home value gain of between $1834.76 for mid-tier homes and $2684.86 for the top tier. Compare this to between $2064 and $3020.32 in Boston.
Put differently, a window investment in Sturbridge can add anywhere from 0.21% percent and 0.85 % percent to the sale 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 upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Sturbridge homeowner is quite strong.
The variation between the range for Sturbridge and Boston, which for reference, would yield a potential premium range of 0.22% percent and 0.32% percent respectively, may come from a number of factors, principally; the -0.5% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Worcester region, and heating & cooling price differences between Sturbridge and Boston.
The data presented is derived from EnergyStar, the NREL,Department of Energy and extensive research conducted by the NAHB. Sturbridge 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: Sturbridge vs the rest of Massachusetts
Find out how investing in new windows in Sturbridge compares to other nearby Massachusetts cities.