Description
Value You Can Measure
Derby Center homeowners have countless great reasons to replace their windows. Upgrading damaged windows, revamping the style of your home etc… Some such values may be calculated relatively precisely.
Firstly, 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.
In terms of energy savings, households located in Derby Center, should experience large declines on annual spending for heating & cooling. If you already have dual pane windows you may save around $205.98 compared to $197 in Burlington. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $614.63 per annum, compared to $553 in Burlington.
Increase your Derby Center Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may increase the asking 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 ascertain : What’s the premium for energy savings when it comes time to sell? Below is what we uncovered in Derby Center:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Derby Center, your home value could increase by around $1235.89 and $1808.52 for a mid-tier or top-tier Derby Center home respectively. Compare this to, 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. Derby Center homeowners may see an estimated home value gain of between $3687.78 for mid-tier homes and $5396.45 for the top tier. Compare this to between $3318 and $4855.34 in Burlington.
Put differently, a window investment in Derby Center can add between 0.72% percent and 3.16 % percent to the sale price of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Derby Center homeowner is quite strong.
The variation between the range for Derby Center and Burlington, which for reference, would yield a potential premium range of 0.69% percent and 1.01% percent respectively, can be estimated from a number of factors, primarily; the 0.51% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the region, and heating & cooling cost differences between Derby Center and Burlington.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research executed by the NAHB. Derby Center 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: Derby Center vs the rest of Vermont
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