Value You Can Measure
Wilmington property owners have many valid reasons to upgrade their windows. Upgrading broken windows, improving the design of your home etc… Other such features can be quantified relatively clearly.
To begin with, windows conserve about 72.3 percent of their initial purchase value in New England according to the Remodeling 2020 Cost vs. Value Report. This puts windows among the top 5 home improvement investments in terms of value retention.
With regards to energy savings, homes in Wilmington, may notice major drops on daily costs for home energy. If you already have dual pane windows you may save about $112.42 compared to $114 in Boston. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $332.34 per annum, compared to $344 in Boston.
Build your Wilmington Home’s Value through Energy Savings
[lme-module module=”market-stats” city=”Wilmington” state=”MA”]
Upgrading your windows to EnergyStar rated National Vinyl windows may 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 uncover : What’s the return on energy savings if you sell your home? This is what we uncovered in Wilmington:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Wilmington, your home value could increase by around $1187.15 and $1655.49 for a mid-tier or top-tier Wilmington home respectively. For comparison, the same upgrade in Boston may get you 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. Wilmington homeowners may see an estimated home value increase of between $3509.56 for mid-tier homes and $4894.11 for the top tier. Compare this to between $3632.64 and $5065.74 in Boston.
In other words, a window investment in Wilmington can add between 0.22% percent and 0.91 % percent to the asking 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 initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Wilmington homeowner is quite strong.
The variation between the range for Wilmington and Boston, which for reference, would yield a potential premium range of 0.22% percent and 0.31% percent respectively, can be estimated from a number of factors, primarily; the -0.15% 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 cost differences between Wilmington and Boston.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research performed by the NAHB. Wilmington home value data is provided by Zillow.
[lme-module module=”market-activity” city=”Wilmington” state=”MA”]
Directions from Wilmington to our headquarters