Description
Value You Can Measure
Wilbraham homeowners have many good reasons to replace their windows. Updating broken windows, changing the aesthetics of your home etc… Many such features may be counted quite explicitly.
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, people living in Wilbraham, could have dramatic declines on daily expenditures for home energy. If you already have dual pane windows you may save about $108.7 compared to $114 in Boston. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $304.88 every year, compared to $344 in Boston.
Build your Wilbraham 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 answer the question : What’s the return on energy savings when selling the house? Below is what we uncovered in Wilbraham:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Wilbraham, your home value could increase by between $652.18 and $954.36 for a mid-tier or top-tier Wilbraham home respectively. For comparison, the same upgrade 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. Wilbraham homeowners may see an estimated home value gain of between $1829.28 for mid-tier homes and $2676.85 for the top tier. Compare this to between $2064 and $3020.32 in Boston.
Another way to look at it, a window investment in Wilbraham can add between 0.21% percent and 0.87 % percent to the sale 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 value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Wilbraham homeowner is quite clear.
The variation between the range for Wilbraham and Boston, which for reference, would yield a potential premium range of 0.22% percent and 0.33% percent respectively, may come from a number of factors, notably; the -0.52% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Springfield region, and heating & cooling cost differences between Wilbraham and Boston.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and professional research performed by the NAHB. Wilbraham 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: Wilbraham vs the rest of Massachusetts
Find out how investing in new windows in Wilbraham compares to other nearby Massachusetts cities.