Description
Value You Can Measure
West Burke property owners have a whole host excellent reasons to change their windows. Fixing old windows, improving the look and feel of your home etc… Certain such features can be measured rather precisely.
For starters, 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, homes in West Burke, are likely to see large drops on weekly costs for heating & cooling. If you already have dual pane windows you may save approximately $208.17 compared to $197 in Burlington. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $629.63 per year, compared to $553 in Burlington.
Build your West Burke Home’s Resale Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may add to 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to find out : What’s the return on energy savings if you put your house up for sale? This is what we found in West Burke:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in West Burke, your home value could increase by between $1040.84 and $1384.31 for a mid-tier or top-tier West Burke home respectively. Compare this to, the same replacement in Burlington could add somewhere between $985 and $1310.05.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. West Burke homeowners could expect an estimated home value gain of between $3148.14 for mid-tier homes and $4187.03 for the top tier. Compare this to between $2765 and $3677.45 in Burlington.
Put differently, a window investment in West Burke can add anywhere from 0.81% percent and 3.27 % percent to the asking price of your home through the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a West Burke homeowner is relatively clear.
The variation between the range for West Burke and Burlington, which for reference, would yield a potential premium range of 0.77% percent and 1.02% percent respectively, is dependent on a number of factors, notably; the 0.63% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the region, and heating & cooling cost differences between West Burke and Burlington.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and professional research conducted by the NAHB. West Burke 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: West Burke vs the rest of Vermont
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