Savings Category: Replacement Window Savings

Description

Value You Can Measure

Freeport residents have many valid reasons to change their windows. Upgrading damaged windows, refining the look and feel of your home etc… Some such values should be quantified rather precisely.

To begin with, windows maintain 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.

As for energy savings, homeowners in Freeport, can expect to experience large declines on weekly spending for energy. If you already have dual pane windows you may save approximately $118.94 compared to $117 in Portland. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $406.85 per annum, compared to $391 in Portland.

Improve your Freeport Home’s Resale Price through Energy Savings

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Switching your windows to EnergyStar rated National Vinyl windows may add to 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.

Moreover, many buyers are willing to pay a premium for energy savings. Here we try to answer the question : What’s the return on investment on energy savings on the market? This is what we found in Freeport:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Freeport, your home value could increase by between $713.64 and $1044.3 for a mid-tier or top-tier Freeport home respectively. For comparison, the same replacement in Portland could yield somewhere between $702 and $1027.26.

Single-Pane to National Vinyl

When upgrading from low-efficiency single-pane windows, the potential is even greater. Freeport homeowners may see an estimated home value increase of between $2441.11 for mid-tier homes and $3572.16 for the top tier. Compare this to between $2346 and $3432.98 in Portland.

Put differently, a window investment in Freeport can add anywhere from 0.18% percent and 0.89 % 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 Freeport homeowner is quite strong.

The variation between the range for Freeport and Portland, which for reference, would yield a potential premium range of 0.18% percent and 0.26% percent respectively, may come from a number of factors, especially; the 0.18% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the Portland-South Portland region, and energy price differences between Freeport and Portland.

The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research done by the NAHB. Freeport home value data is provided by Zillow.

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