Description
Value You Can Measure
Chelsea homeowners have a variety valid reasons to replace their windows. Updating old windows, revamping the style of your home etc… Some such values can 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 places windows among the top 5 home improvement investments in terms of value retention.
In terms of energy savings, homeowners in Chelsea, should notice large savings on annual expenditures for home energy. If you already have dual pane windows you may save around $206.34 compared to $197 in Burlington. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $617.11 every year, compared to $553 in Burlington.
Increase your Chelsea Home’s Resale Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to evaluate : What’s the ROI on energy savings if you put your house up for sale? Below is what we estimated in Chelsea:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Chelsea, your home value could increase by around $1238.06 and $1811.69 for a mid-tier or top-tier Chelsea home respectively. For comparison, the same replacement in Burlington may get you somewhere between $1182 and $1729.66.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Chelsea homeowners may yield an estimated home value increase of between $3702.65 for mid-tier homes and $5418.22 for the top tier. Compare this to between $3318 and $4855.34 in Burlington.
Another way to look at it, a window investment in Chelsea can add between 0.76% percent and 3.31 % 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 worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Chelsea homeowner is quite clear.
The variation between the range for Chelsea and Burlington, which for reference, would yield a potential premium range of 0.72% percent and 1.06% percent respectively, is derived from a number of factors, notably; the 0.53% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the Claremont-Lebanon region, and heating & cooling cost differences between Chelsea and Burlington.
The data presented is derived from EnergyStar, the NREL,Department of Energy and meticulous research done by the National Association of Homebuilders. Chelsea 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: Chelsea vs the rest of Vermont
Find out how investing in new windows in Chelsea compares to other nearby Vermont cities.