Description
Value You Can Measure
Stowe residents have a whole host valid reasons to upgrade their windows. Replacing leaky windows, improving the decor of your home etc… Certain such benefits can be counted relatively precisely.
First of all, windows retain 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, residents of Stowe, are likely to experience considerable savings on monthly spending for heating & cooling. If you already have dual pane windows you may save approximately $190.51 compared to $197 in Burlington. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $508.48 annually, compared to $553 in Burlington.
Increase your Stowe Home’s Value through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows can 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 figure out : What’s the premium for energy savings on the market? This is what we discovered in Stowe:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Stowe, your home value could increase by around $1143.07 and $1672.69 for a mid-tier or top-tier Stowe home respectively. Compare this to, the same replacement in Burlington may get you somewhere between $1182 and $1729.66.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Stowe homeowners could yield an estimated home value gain of between $3050.88 for mid-tier homes and $4464.46 for the top tier. Compare this to between $3318 and $4855.34 in Burlington.
Put differently, a window upgrade in Stowe can add between 0.24% percent and 0.95 % percent to the asking price of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Stowe homeowner is quite strong.
The variation between the range for Stowe and Burlington, which for reference, would yield a potential premium range of 0.25% percent and 0.37% percent respectively, is derived from a number of factors, principally; the -0.37% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the region, and energy cost differences between Stowe and Burlington.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and extensive research done by the NAHB. Stowe 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: Stowe vs the rest of Vermont
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