Description
Value You Can Measure
Rutland property owners have a multitude great reasons to upgrade their windows. Fixing broken windows, renewing the look and feel of your home etc… Many such values can be calculated relatively accurately.
For starters, windows preserve 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.
As for energy savings, residents of Rutland, can expect to have considerable decreases on daily bill for heating & cooling. If you already have dual pane windows you could save approximately $205.29 compared to $197 in Burlington. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $609.86 annually, compared to $553 in Burlington.
Grow your Rutland Home’s Asking Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows could increase 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to answer the question : What’s the premium for energy savings when it comes time to sell? Below is what we uncovered in Rutland:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Rutland, your home value could increase by between $1231.72 and $1802.42 for a mid-tier or top-tier Rutland home respectively. For comparison, the same upgrade in Burlington could add somewhere between $1182 and $1729.66.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Rutland homeowners could yield an estimated home value gain of between $3659.17 for mid-tier homes and $5354.59 for the top tier. Compare this to between $3318 and $4855.34 in Burlington.
In other words, a window upgrade in Rutland can add between 0.67% percent and 2.91 % percent to the asking price 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 Rutland homeowner is quite clear.
The variation between the range for Rutland and Burlington, which for reference, would yield a potential premium range of 0.64% percent and 0.94% percent respectively, may come from a number of factors, in particular; the 0.47% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Rutland region, and energy cost differences between Rutland and Burlington.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and professional research done by the National Association of Homebuilders. Rutland 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: Rutland vs the rest of Vermont
Find out how investing in new windows in Rutland compares to other nearby Vermont cities.