Description
Value You Can Measure
Winchester property owners have a multitude great reasons to replace their windows. Upgrading old windows, refining the aesthetics of your home etc… Other such values may be measured quite exactly.
Firstly, windows conserve 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.
With regards to energy savings, homeowners in Winchester, could see considerable decreases on monthly spending for home energy. If you already have dual pane windows you may save approximately $120.46 compared to $114 in Boston. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $391.68 per annum, compared to $344 in Boston.
Grow your Winchester Home’s Value through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows can 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to uncover : What’s the premium for energy savings if you sell your home? Here is what we discovered in Winchester:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Winchester, your home value could increase by around $1566.03 and $2480.23 for a mid-tier or top-tier Winchester home respectively. Compare this to, the same upgrade in Boston may get you somewhere between $1482 and $2347.15.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Winchester homeowners may yield an estimated home value gain of between $5091.81 for mid-tier homes and $8064.25 for the top tier. Compare this to between $4472 and $7082.62 in Boston.
Another way to look at it, a window investment in Winchester can add between 0.15% percent and 0.78 % 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 initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Winchester homeowner is quite clear.
The variation between the range for Winchester and Boston, which for reference, would yield a potential premium range of 0.14% percent and 0.23% percent respectively, may come from a number of factors, especially; the 0.63% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Boston-Cambridge-Newton region, and heating & cooling price differences between Winchester and Boston.
The data presented is derived from EnergyStar, the NREL,Department of Energy and expert research performed by the NAHB. Winchester 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: Winchester vs the rest of Massachusetts
Find out how investing in new windows in Winchester compares to other nearby Massachusetts cities.