Richmond-Maine Savings

Build your Richmond Home’s Asking Price through Energy Savings

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Switching your windows to EnergyStar rated National Vinyl windows can 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 figure out : What’s the return on investment on energy savings when it comes time to sell? This is what we uncovered in Richmond:

Put differently, a window investment in Richmond can add between 0.36% percent and 1.65 % percent to the value 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 Richmond homeowner is quite clear.

The variation between the range for Richmond and Portland, which for reference, would yield a potential premium range of 0.37% percent and 0.55% percent respectively, is derived from a number of factors, primarily; the -0.44% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Portland-South Portland region, and heating & cooling cost differences between Richmond and Portland.

The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and expert research performed by the NAHB. Richmond home value data is provided by Zillow.

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