Description
Value You Can Measure
Orleans residents have many valid reasons to replace their windows. Fixing damaged windows, improving the look and feel of your home etc… Many such features may be counted relatively precisely.
For starters, windows retain 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, homeowners in Orleans, could experience large declines on annual expenditures for heating & cooling. If you already have dual pane windows you could save about $209.55 compared to $197 in Burlington. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $639.12 annually, compared to $553 in Burlington.
Increase your Orleans Home’s Resale Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may increase the asking 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.
In addition, 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 on the market? Below 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 between $1047.75 and $1393.51 for a mid-tier or top-tier Orleans home respectively. Compare this to, the same replacement in Burlington may get you somewhere between $985 and $1310.05.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Orleans homeowners could expect an estimated home value gain of between $3195.61 for mid-tier homes and $4250.16 for the top tier. Compare this to between $2765 and $3677.45 in Burlington.
In other words, a window investment in Orleans can add between 1.04% percent and 4.21 % percent to the value of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Orleans homeowner is quite strong.
The variation between the range for Orleans and Burlington, which for reference, would yield a potential premium range of 0.97% percent and 1.3% percent respectively, is dependent on a number of factors, primarily; the 0.71% 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 Orleans and Burlington.
The data presented is derived from EnergyStar, the NREL,Department of Energy and professional research conducted by the National Association of Homebuilders. Orleans 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: Orleans vs the rest of Vermont
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