Description
Value You Can Measure
Newport homeowners have plenty valid reasons to change their windows. Replacing damaged windows, refining the look and feel of your home etc… Other such values should be counted rather exactly.
To start, 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, residents of Newport, can expect to experience significant reductions on monthly costs for heating & cooling. If you already have dual pane windows you could save around $206.68 compared to $197 in Burlington. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $619.44 per annum, compared to $553 in Burlington.
Build your Newport Home’s Value 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 ascertain : What’s the return on investment on energy savings when selling the house? This is what we found in Newport:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Newport, your home value could increase by around $1240.1 and $1814.68 for a mid-tier or top-tier Newport home respectively. For comparison, the same upgrade in Burlington could yield somewhere between $1182 and $1729.66.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Newport homeowners could yield an estimated home value gain of between $3716.67 for mid-tier homes and $5438.73 for the top tier. Compare this to between $3318 and $4855.34 in Burlington.
In other words, a window upgrade in Newport can add between 0.79% percent and 3.46 % 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 upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Newport homeowner is quite strong.
The variation between the range for Newport and Burlington, which for reference, would yield a potential premium range of 0.75% percent and 1.1% percent respectively, is derived from a number of factors, especially; the 0.55% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the region, and energy cost differences between Newport and Burlington.
The data presented is based on EnergyStar, the NREL,Department of Energy and extensive research conducted by the National Association of Homebuilders. Newport 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: Newport vs the rest of Vermont
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