Value You Can Measure
Norway homeowners have countless great reasons to change their windows. Replacing broken windows, changing the decor of your home etc… Other such features may be counted relatively accurately.
To start, 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.
With regards to energy savings, residents of Norway, could notice dramatic savings on annual expenditures for home energy. If you already have dual pane windows you may save about $112.23 compared to $117 in Portland. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $352 per year, compared to $391 in Portland.
Improve your Norway Home’s Value through Energy Savings
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Upgrading 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 uncover : What’s the premium for energy savings on the market? Below is what we discovered in Norway:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Norway, your home value could increase by between $673.35 and $985.34 for a mid-tier or top-tier Norway home respectively. For comparison, the same replacement in Portland may get you somewhere between $702 and $1027.26.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Norway homeowners may see an estimated home value gain of between $2111.98 for mid-tier homes and $3090.53 for the top tier. Compare this to between $2346 and $3432.98 in Portland.
Another way to look at it, a window upgrade in Norway can add anywhere from 0.36% percent and 1.67 % percent to the sale price of your home through the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Norway homeowner is quite clear.
The variation between the range for Norway and Portland, which for reference, would yield a potential premium range of 0.38% percent and 0.56% percent respectively, may come from a number of factors, especially; the -0.45% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the region, and heating & cooling cost differences between Norway and Portland.
The data presented is based on EnergyStar, the NREL,Department of Energy and expert research conducted by the NAHB. Norway home value data is provided by Zillow.
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Directions from Norway to our headquarters