Description
Value You Can Measure
Topsfield homeowners have a variety valid reasons to upgrade their windows. Upgrading damaged windows, refining the decor of your home etc… Certain such values should be quantified relatively precisely.
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 sets windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, homeowners in Topsfield, should notice large savings on weekly expenditures for electricity. If you already have dual pane windows you could save around $113.98 compared to $114 in Boston. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $343.82 every year, compared to $344 in Boston.
Improve your Topsfield Home’s Asking 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to ascertain : What’s the return on investment on energy savings on the market? The following is what we discovered in Topsfield:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Topsfield, your home value could increase by around $1203.59 and $1678.41 for a mid-tier or top-tier Topsfield home respectively. Compare this to, 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. Topsfield homeowners could yield an estimated home value gain of between $3630.77 for mid-tier homes and $5063.13 for the top tier. Compare this to between $3632.64 and $5065.74 in Boston.
Put differently, a window investment in Topsfield can add between 0.19% percent and 0.8 % percent to the asking 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 Topsfield homeowner is quite strong.
The variation between the range for Topsfield and Boston, which for reference, would yield a potential premium range of 0.19% percent and 0.26% percent respectively, is dependent on a number of factors, primarily; the 0% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Boston-Cambridge-Newton region, and heating & cooling price differences between Topsfield and Boston.
The data presented is derived from EnergyStar, the NREL,Department of Energy and meticulous research performed by the National Association of Homebuilders. Topsfield 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: Topsfield vs the rest of Massachusetts
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