Value You Can Measure
Orleans residents have plenty great reasons to upgrade their windows. Updating damaged windows, renewing the design of your home etc… Some such benefits should be measured rather explicitly.
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 sets windows among the top 5 home improvement investments in terms of value retention.
With regards to energy savings, households located in Orleans, should have large decreases on monthly costs for energy. If you already have dual pane windows you could save around $114.03 compared to $114 in Boston. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $344.25 per year, compared to $344 in Boston.
Improve your Orleans Home’s Resale Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows may increase 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 premium for energy savings if you sell your home? The following is what we found in Orleans:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Orleans, your home value could increase by around $1204.19 and $1679.25 for a mid-tier or top-tier Orleans home respectively. For comparison, the same replacement in Boston may get you somewhere between $1203.84 and $1678.76.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Orleans homeowners could yield an estimated home value gain of between $3635.23 for mid-tier homes and $5069.35 for the top tier. Compare this to between $3632.64 and $5065.74 in Boston.
In other words, a window upgrade in Orleans can add anywhere from 0.19% percent and 0.79 % percent to the value of your home via the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Orleans homeowner is relatively clear.
The variation between the range for Orleans and Boston, which for reference, would yield a potential premium range of 0.19% percent and 0.26% percent respectively, can be estimated from a number of factors, primarily; the 0% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Barnstable Town region, and energy price differences between Orleans and Boston.
The data presented is derived from EnergyStar, the NREL,Department of Energy and expert research done by the NAHB. Orleans home value data is provided by Zillow.
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