Description
Value You Can Measure
Montpelier residents have a whole host excellent reasons to upgrade their windows. Repairing old windows, renewing the decor of your home etc… Many such features may be counted relatively accurately.
To start, windows preserve 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, houses in Montpelier, may see impressive declines on weekly bill for heating & cooling. If you already have dual pane windows you could save approximately $202.03 compared to $197 in Burlington. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $587.5 per year, compared to $553 in Burlington.
Increase your Montpelier Home’s Resale Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows could add to 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 sell your home? This is what we discovered in Montpelier:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Montpelier, your home value could increase by between $1212.17 and $1773.8 for a mid-tier or top-tier Montpelier home respectively. Compare this to, the same replacement in Burlington may get you somewhere between $1182 and $1729.66.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Montpelier homeowners may see an estimated home value gain of between $3525 for mid-tier homes and $5158.25 for the top tier. Compare this to between $3318 and $4855.34 in Burlington.
In other words, a window upgrade in Montpelier can add between 0.49% percent and 2.08 % 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 value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Montpelier homeowner is quite clear.
The variation between the range for Montpelier and Burlington, which for reference, would yield a potential premium range of 0.48% percent and 0.7% percent respectively, is dependent on a number of factors, notably; the 0.28% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Barre region, and heating & cooling cost differences between Montpelier and Burlington.
The data presented is based on EnergyStar, the NREL,Department of Energy and extensive research conducted by the NAHB. Montpelier 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: Montpelier vs the rest of Vermont
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