Value You Can Measure
Bath residents have many valid reasons to replace their windows. Repairing damaged windows, improving the design of your home etc… Other such values should be quantified relatively exactly.
For starters, 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.
As for energy savings, homeowners in Bath, may see impressive reductions on annual expenditures for heating & cooling. If you already have dual pane windows you could save around $112.6 compared to $117 in Portland. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $355.02 per year, compared to $391 in Portland.
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Grow your Bath Home’s Value through Energy Savings
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Upgrading 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 ascertain : What’s the ROI on energy savings when selling the house? The following is what we discovered in Bath:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Bath, your home value could increase by around $675.57 and $988.59 for a mid-tier or top-tier Bath home respectively. Compare this to, the same replacement in Portland could add somewhere between $702 and $1027.26.
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Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Bath homeowners could yield an estimated home value gain of between $2130.13 for mid-tier homes and $3117.08 for the top tier. Compare this to between $2346 and $3432.98 in Portland.
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Another way to look at it, a window upgrade in Bath can add between 0.34% percent and 1.59 % percent to the asking price of your home via 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 Bath homeowner is quite clear.
The variation between the range for Bath and Portland, which for reference, would yield a potential premium range of 0.36% percent and 0.52% percent respectively, is derived from a number of factors, principally; the -0.42% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the Portland-South Portland region, and heating & cooling cost differences between Bath and Portland.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and professional research conducted by the National Association of Homebuilders. Bath home value data is provided by Zillow.
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