Description
Value You Can Measure
Webster residents have a multitude great reasons to upgrade their windows. Repairing old windows, refining the design of your home etc… Other such values can be counted rather clearly.
Firstly, 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.
With regards to energy savings, houses in Webster, will most probably experience major declines on daily spending for home energy. If you already have dual pane windows you may save around $108.01 compared to $114 in Boston. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $299.84 every year, compared to $344 in Boston.
Increase your Webster Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows can increase 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 estimate : What’s the return on investment on energy savings when selling the house? Here is what we discovered in Webster:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Webster, your home value could increase by between $648.08 and $948.36 for a mid-tier or top-tier Webster 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. Webster homeowners may see an estimated home value increase of between $1799.06 for mid-tier homes and $2632.62 for the top tier. Compare this to between $2064 and $3020.32 in Boston.
Another way to look at it, a window investment in Webster can add between 0.24% percent and 0.99 % percent to the asking price of your home through 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 Webster homeowner is quite clear.
The variation between the range for Webster and Boston, which for reference, would yield a potential premium range of 0.26% percent and 0.38% percent respectively, is dependent on a number of factors, principally; the -0.58% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the Worcester region, and heating & cooling cost differences between Webster and Boston.
The data presented is derived from EnergyStar, the NREL,Department of Energy and incredible research conducted by the NAHB. Webster 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: Webster vs the rest of Massachusetts
Find out how investing in new windows in Webster compares to other nearby Massachusetts cities.