Savings Category: Replacement Window Savings

Description

Value You Can Measure

Auburn property owners have plenty strong reasons to replace their windows. Fixing leaky windows, renewing the aesthetics of your home etc… Certain such features should be calculated rather explicitly.

To start, windows retain 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.

As for energy savings, people living in Auburn, will most probably have dramatic reductions on daily spending for heating & cooling. If you already have dual pane windows you could save around $111.97 compared to $117 in Portland. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $349.89 every year, compared to $391 in Portland.

Improve your Auburn Home’s Value through Energy Savings

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Switching your windows to EnergyStar rated National Vinyl windows could increase the sale 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 ascertain : What’s the return on investment on energy savings on the market? The following is what we estimated in Auburn:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Auburn, your home value could increase by between $671.81 and $983.08 for a mid-tier or top-tier Auburn home respectively. For comparison, the same replacement in Portland could add somewhere between $702 and $1027.26.

Single-Pane to National Vinyl

When upgrading from low-efficiency single-pane windows, the potential is even greater. Auburn homeowners could expect an estimated home value increase of between $2099.36 for mid-tier homes and $3072.06 for the top tier. Compare this to between $2346 and $3432.98 in Portland.

Another way to look at it, a window investment in Auburn can add anywhere from 0.38% percent and 1.74 % 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 upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Auburn homeowner is quite clear.

The variation between the range for Auburn and Portland, which for reference, would yield a potential premium range of 0.4% percent and 0.58% percent respectively, is dependent on a number of factors, primarily; the -0.48% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the Lewiston-Auburn region, and energy cost differences between Auburn and Portland.

The data presented is based on EnergyStar, the NREL,Department of Energy and incredible research executed by the NAHB. Auburn home value data is provided by Zillow.

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