Description
Value You Can Measure
Derby Line homeowners have a multitude valid reasons to replace their windows. Updating broken windows, renewing the decor of your home etc… Some such benefits may be counted quite clearly.
First of all, windows preserve 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, people living in Derby Line, can expect to experience large declines on daily costs for energy. If you already have dual pane windows you could save approximately $207.11 compared to $197 in Burlington. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $622.38 per year, compared to $553 in Burlington.
Improve your Derby Line Home’s Resale Price through Energy Savings
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Switching 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to answer the question : What’s the return on energy savings if you put your house up for sale? The following is what we uncovered in Derby Line:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Derby Line, your home value could increase by between $1035.55 and $1377.28 for a mid-tier or top-tier Derby Line home respectively. Compare this to, the same upgrade in Burlington could yield somewhere between $985 and $1310.05.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Derby Line homeowners may see an estimated home value gain of between $3111.88 for mid-tier homes and $4138.8 for the top tier. Compare this to between $2765 and $3677.45 in Burlington.
Another way to look at it, a window upgrade in Derby Line can add anywhere from 0.7% percent and 2.78 % percent to the value of your home via 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 Derby Line homeowner is quite clear.
The variation between the range for Derby Line and Burlington, which for reference, would yield a potential premium range of 0.66% percent and 0.88% percent respectively, is derived from a number of factors, primarily; the 0.57% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the region, and energy cost differences between Derby Line and Burlington.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and meticulous research performed by the NAHB. Derby Line 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 Line vs the rest of Vermont
Find out how investing in new windows in Derby Line compares to other nearby Vermont cities.