Savings Category: Replacement Window Savings

Description

Value You Can Measure

Wiscasset residents have many valid reasons to replace their windows. Replacing damaged windows, refining the style of your home etc… Other such values should be measured relatively precisely.

To begin with, 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.

With regards to energy savings, people living in Wiscasset, may have impressive drops on weekly expenditures for heating & cooling. If you already have dual pane windows you could save around $112.91 compared to $117 in Portland. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $357.55 per annum, compared to $391 in Portland.

Improve your Wiscasset Home’s Value through Energy Savings

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Replacing your windows to EnergyStar rated National Vinyl windows could add to 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 find out : What’s the return on energy savings on the market? Here is what we estimated in Wiscasset:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Wiscasset, your home value could increase by around $677.44 and $991.31 for a mid-tier or top-tier Wiscasset home respectively. For comparison, the same upgrade in Portland could add somewhere between $702 and $1027.26.

Single-Pane to National Vinyl

When upgrading from low-efficiency single-pane windows, the potential is even greater. Wiscasset homeowners could see an estimated home value gain of between $2145.33 for mid-tier homes and $3139.33 for the top tier. Compare this to between $2346 and $3432.98 in Portland.

In other words, a window upgrade in Wiscasset can add between 0.33% percent and 1.52 % 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 upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Wiscasset homeowner is quite strong.

The variation between the range for Wiscasset and Portland, which for reference, would yield a potential premium range of 0.34% percent and 0.5% percent respectively, may come from a number of factors, notably; the -0.39% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the region, and heating & cooling cost differences between Wiscasset and Portland.

The data presented is based on EnergyStar, the NREL,Department of Energy and professional research done by the National Association of Homebuilders. Wiscasset home value data is provided by Zillow.

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