Value You Can Measure
Falmouth homeowners have plenty good reasons to upgrade their windows. Replacing broken windows, renewing the style of your home etc… Some such values can be counted rather clearly.
For starters, windows conserve 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.
With regards to energy savings, homeowners in Falmouth, are likely to experience major drops on annual spending for heating & cooling. If you already have dual pane windows you could save around $122.59 compared to $117 in Portland. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $436.7 per annum, compared to $391 in Portland.
Improve your Falmouth Home’s Value through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows could 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 estimate : What’s the return on energy savings when selling the house? What follows is what we discovered in Falmouth:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Falmouth, your home value could increase by between $1294.59 and $1805.32 for a mid-tier or top-tier Falmouth home respectively. Compare this to, the same upgrade in Portland could add somewhere between $1235.52 and $1722.94.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Falmouth homeowners could see an estimated home value increase of between $4611.51 for mid-tier homes and $6430.79 for the top tier. Compare this to between $4128.96 and $5757.87 in Portland.
In other words, a window upgrade in Falmouth can add anywhere from 0.25% percent and 1.24 % percent to the sale 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 Falmouth homeowner is quite strong.
The variation between the range for Falmouth and Portland, which for reference, would yield a potential premium range of 0.24% percent and 0.33% percent respectively, may come 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 point in the Portland-South Portland region, and heating & cooling cost differences between Falmouth and Portland.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and professional research done by the NAHB. Falmouth home value data is provided by Zillow.
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