Description
Value You Can Measure
Fair Haven homeowners have a multitude excellent reasons to replace their windows. Replacing damaged windows, improving the decor of your home etc… Certain such values should be calculated quite clearly.
First of all, windows retain 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.
In terms of energy savings, houses in Fair Haven, can expect to notice large decreases on annual spending for home energy. If you already have dual pane windows you may save about $207.61 compared to $197 in Burlington. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $625.78 every year, compared to $553 in Burlington.
Improve your Fair Haven Home’s Value through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows could 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 return on energy savings when selling the house? What follows is what we discovered in Fair Haven:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Fair Haven, your home value could increase by between $1038.04 and $1380.59 for a mid-tier or top-tier Fair Haven home respectively. Compare this to, the same replacement in Burlington may get you somewhere between $985 and $1310.05.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Fair Haven homeowners may see an estimated home value increase of between $3128.92 for mid-tier homes and $4161.46 for the top tier. Compare this to between $2765 and $3677.45 in Burlington.
Put differently, a window investment in Fair Haven can add anywhere from 0.75% percent and 3 % percent to the asking 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 initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Fair Haven homeowner is quite clear.
The variation between the range for Fair Haven and Burlington, which for reference, would yield a potential premium range of 0.71% percent and 0.94% percent respectively, can be estimated from a number of factors, in particular; the 0.6% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Rutland region, and energy price differences between Fair Haven and Burlington.
The data presented is based on EnergyStar, the NREL,Department of Energy and professional research executed by the NAHB. Fair Haven 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: Fair Haven vs the rest of Vermont
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