Value You Can Measure
Walpole property owners have plenty great reasons to change their windows. Replacing leaky windows, refining the design of your home etc… Some such values can be counted rather explicitly.
First of all, windows conserve 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, households located in Walpole, could have considerable reductions on weekly spending for home energy. If you already have dual pane windows you may save approximately $112.32 compared to $114 in Boston. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $331.58 annually, compared to $344 in Boston.
Improve your Walpole Home’s Asking Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows could add to the asking 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 find out : What’s the return on energy savings if you put your house up for sale? Here is what we uncovered in Walpole:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Walpole, your home value could increase by between $1186.05 and $1653.96 for a mid-tier or top-tier Walpole home respectively. For comparison, the same upgrade 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. Walpole homeowners may yield an estimated home value increase of between $3501.44 for mid-tier homes and $4882.78 for the top tier. Compare this to between $3632.64 and $5065.74 in Boston.
In other words, a window upgrade in Walpole can add anywhere from 0.22% percent and 0.92 % 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 initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Walpole homeowner is quite clear.
The variation between the range for Walpole and Boston, which for reference, would yield a potential premium range of 0.23% percent and 0.32% percent respectively, can be estimated from a number of factors, in particular; the -0.16% 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 energy price differences between Walpole and Boston.
The data presented is derived from EnergyStar, the NREL,Department of Energy and meticulous research performed by the NAHB. Walpole home value data is provided by Zillow.
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