Savings Category: Replacement Window Savings

Description

Value You Can Measure

Bowdoinham property owners have plenty strong reasons to upgrade their windows. Upgrading old windows, renewing the look and feel of your home etc… Many such values can be quantified relatively precisely.

For starters, windows preserve 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, houses in Bowdoinham, could have major savings on daily bill for energy. If you already have dual pane windows you could save around $113.65 compared to $117 in Portland. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $363.6 per year, compared to $391 in Portland.

Build your Bowdoinham Home’s Resale Price through Energy Savings

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Switching your windows to EnergyStar rated National Vinyl windows can 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.

Moreover, many buyers are willing to pay a premium for energy savings. Here we try to ascertain : What’s the premium for energy savings when it comes time to sell? Below is what we discovered in Bowdoinham:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Bowdoinham, your home value could increase by around $681.87 and $997.81 for a mid-tier or top-tier Bowdoinham home respectively. For comparison, the same replacement in Portland could yield somewhere between $702 and $1027.26.

Single-Pane to National Vinyl

When upgrading from low-efficiency single-pane windows, the potential is even greater. Bowdoinham homeowners could yield an estimated home value increase of between $2181.58 for mid-tier homes and $3192.39 for the top tier. Compare this to between $2346 and $3432.98 in Portland.

Put differently, a window investment in Bowdoinham can add anywhere from 0.3% percent and 1.39 % percent to the sale 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 value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Bowdoinham homeowner is relatively clear.

The variation between the range for Bowdoinham and Portland, which for reference, would yield a potential premium range of 0.3% percent and 0.45% percent respectively, is derived from a number of factors, primarily; the -0.32% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the Portland-South Portland region, and heating & cooling price differences between Bowdoinham and Portland.

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

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