Value You Can Measure
Westborough homeowners have a multitude strong reasons to change their windows. Repairing leaky windows, revamping the decor of your home etc… Certain such values may be measured rather explicitly.
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 places windows among the top 5 home improvement investments in terms of value retention.
In terms of energy savings, homeowners in Westborough, can expect to have dramatic savings on daily spending for energy. If you already have dual pane windows you could save approximately $111.91 compared to $114 in Boston. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $328.59 per year, compared to $344 in Boston.
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Increase your Westborough Home’s Asking Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows may increase the value 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 return on energy savings if you put your house up for sale? What follows is what we found in Westborough:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Westborough, your home value could increase by between $1181.78 and $1648 for a mid-tier or top-tier Westborough home respectively. For comparison, the same upgrade in Boston may get you somewhere between $1203.84 and $1678.76.
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Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Westborough homeowners could yield an estimated home value gain of between $3469.92 for mid-tier homes and $4838.83 for the top tier. Compare this to between $3632.64 and $5065.74 in Boston.
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Put differently, a window upgrade in Westborough can add between 0.23% percent and 0.96 % 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 value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Westborough homeowner is relatively clear.
The variation between the range for Westborough and Boston, which for reference, would yield a potential premium range of 0.24% percent and 0.33% percent respectively, can be estimated from a number of factors, especially; the -0.2% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the Worcester region, and energy price differences between Westborough and Boston.
The data presented is based on EnergyStar, the NREL,Department of Energy and meticulous research executed by the National Association of Homebuilders. Westborough home value data is provided by Zillow.
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