Description
Value You Can Measure
Cambridge residents have a multitude valid reasons to replace their windows. Replacing old windows, improving the style of your home etc… Some such features can be quantified rather clearly.
To start, windows maintain 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.
With regards to energy savings, people living in Cambridge, could notice significant savings on annual bill for heating & cooling. If you already have dual pane windows you may save approximately $201.74 compared to $197 in Burlington. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $585.5 per annum, compared to $553 in Burlington.
Improve your Cambridge Home’s Asking Price through Energy Savings
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Upgrading 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to evaluate : What’s the premium for energy savings if you put your house up for sale? Below is what we found in Cambridge:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Cambridge, your home value could increase by between $1210.41 and $1771.24 for a mid-tier or top-tier Cambridge home respectively. For comparison, the same upgrade in Burlington could add somewhere between $1182 and $1729.66.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Cambridge homeowners could yield an estimated home value gain of between $3512.97 for mid-tier homes and $5140.65 for the top tier. Compare this to between $3318 and $4855.34 in Burlington.
Put differently, a window investment in Cambridge can add between 0.48% percent and 2.03 % percent to the asking price of your home via the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Cambridge homeowner is quite clear.
The variation between the range for Cambridge and Burlington, which for reference, would yield a potential premium range of 0.47% percent and 0.68% percent respectively, may come from a number of factors, in particular; the 0.27% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the region, and heating & cooling cost differences between Cambridge and Burlington.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and extensive research executed by the NAHB. Cambridge 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: Cambridge vs the rest of Vermont
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