Savings Category: Replacement Window Savings

Description

Value You Can Measure

Alfred property owners have a variety good reasons to upgrade their windows. Repairing damaged windows, revamping the design of your home etc… Other such features may be counted relatively accurately.

First of all, windows maintain 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.

In terms of energy savings, people living in Alfred, will most probably see significant reductions on monthly spending for heating & cooling. If you already have dual pane windows you may save around $114.26 compared to $117 in Portland. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $368.6 annually, compared to $391 in Portland.

Grow your Alfred 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 determine : What’s the return on energy savings if you put your house up for sale? Below is what we estimated in Alfred:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Alfred, your home value could increase by around $685.55 and $1003.18 for a mid-tier or top-tier Alfred home respectively. For comparison, the same upgrade in Portland may get you somewhere between $702 and $1027.26.

Single-Pane to National Vinyl

When upgrading from low-efficiency single-pane windows, the potential is even greater. Alfred homeowners may expect an estimated home value increase of between $2211.6 for mid-tier homes and $3236.3 for the top tier. Compare this to between $2346 and $3432.98 in Portland.

Put differently, a window upgrade in Alfred can add anywhere from 0.27% percent and 1.29 % percent to the value of your home through 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 Alfred homeowner is relatively strong.

The variation between the range for Alfred and Portland, which for reference, would yield a potential premium range of 0.28% percent and 0.41% percent respectively, may come from a number of factors, in particular; the -0.26% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the Portland-South Portland region, and heating & cooling cost differences between Alfred and Portland.

The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and expert research conducted by the National Association of Homebuilders. Alfred home value data is provided by Zillow.

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Energy Savings & ROI: Alfred vs the rest of Maine

Find out how investing in new windows in Alfred compares to other nearby Maine cities.