Description
Value You Can Measure
Island Pond homeowners have a whole host good reasons to upgrade their windows. Fixing damaged windows, renewing the decor of your home etc… Other such values can be calculated quite precisely.
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 places windows among the top 5 home improvement investments in terms of value retention.
In terms of energy savings, homes in Island Pond, could have dramatic reductions on daily expenditures for electricity. If you already have dual pane windows you may save about $208.61 compared to $197 in Burlington. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $632.65 every year, compared to $553 in Burlington.
Improve your Island Pond Home’s Asking Price through Energy Savings
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Replacing 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 evaluate : What’s the return on investment on energy savings if you sell your home? Here is what we discovered in Island Pond:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Island Pond, your home value could increase by between $1043.04 and $1387.25 for a mid-tier or top-tier Island Pond home respectively. For comparison, the same upgrade in Burlington could add somewhere between $985 and $1310.05.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Island Pond homeowners may yield an estimated home value gain of between $3163.27 for mid-tier homes and $4207.15 for the top tier. Compare this to between $2765 and $3677.45 in Burlington.
Put differently, a window investment in Island Pond can add anywhere from 0.87% percent and 3.52 % percent to the sale price of your home through the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Island Pond homeowner is relatively clear.
The variation between the range for Island Pond and Burlington, which for reference, would yield a potential premium range of 0.82% percent and 1.1% percent respectively, may come from a number of factors, in particular; the 0.65% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the Berlin region, and heating & cooling price differences between Island Pond and Burlington.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and expert research conducted by the National Association of Homebuilders. Island Pond 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: Island Pond vs the rest of Vermont
Find out how investing in new windows in Island Pond compares to other nearby Vermont cities.