Description
Value You Can Measure
Weymouth property owners have a variety good reasons to upgrade their windows. Fixing old windows, refining the look and feel of your home etc… Certain such benefits can be calculated quite accurately.
For starters, windows preserve 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, houses in Weymouth, could see major declines on monthly costs for energy. If you already have dual pane windows you may save around $110.52 compared to $114 in Boston. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $318.33 per year, compared to $344 in Boston.
Increase your Weymouth Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows could 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 ROI on energy savings on the market? Here is what we estimated in Weymouth:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Weymouth, your home value could increase by around $663.12 and $970.37 for a mid-tier or top-tier Weymouth home respectively. For comparison, the same replacement in Boston could add somewhere between $684 and $1000.92.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Weymouth homeowners may expect an estimated home value gain of between $1909.99 for mid-tier homes and $2794.95 for the top tier. Compare this to between $2064 and $3020.32 in Boston.
Put differently, a window investment in Weymouth can add anywhere from 0.16% percent and 0.67 % 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 Weymouth homeowner is quite clear.
The variation between the range for Weymouth and Boston, which for reference, would yield a potential premium range of 0.16% percent and 0.24% percent respectively, can be estimated from a number of factors, especially; the -0.34% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the Boston-Cambridge-Newton region, and energy cost differences between Weymouth and Boston.
The data presented is derived from EnergyStar, the NREL,Department of Energy and extensive research done by the National Association of Homebuilders. Weymouth 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: Weymouth vs the rest of Massachusetts
Find out how investing in new windows in Weymouth compares to other nearby Massachusetts cities.