Description
Value You Can Measure
Ballston Spa homeowners have many good reasons to replace their windows. Fixing broken windows, refining the decor of your home etc… Other such values should be measured quite precisely.
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 sets windows among the top 5 home improvement investments in terms of value retention.
With regards to energy savings, houses in Ballston Spa, could experience large drops on monthly spending for electricity. If you already have dual pane windows you may save around $191.25 compared to $174 in Buffalo. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $561.53 per year, compared to $452 in Buffalo.
Grow your Ballston Spa Home’s Asking 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 determine : What’s the ROI on energy savings if you put your house up for sale? This is what we discovered in Ballston Spa:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Ballston Spa, your home value could increase by between $1147.5 and $1679.17 for a mid-tier or top-tier Ballston Spa home respectively. For comparison, the same upgrade in Buffalo could yield somewhere between $1044 and $1527.72.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Ballston Spa homeowners may yield an estimated home value increase of between $3369.21 for mid-tier homes and $4930.27 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.
Another way to look at it, a window upgrade in Ballston Spa can add between 0.52% percent and 2.24 % percent to the sale price of your home through the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Ballston Spa homeowner is relatively strong.
The variation between the range for Ballston Spa and Buffalo, which for reference, would yield a potential premium range of 0.47% percent and 0.69% percent respectively, can be estimated from a number of factors, principally; the 1.1% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the Albany-Schenectady-Troy region, and energy cost differences between Ballston Spa and Buffalo.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and extensive research conducted by the National Association of Homebuilders. Ballston Spa 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: Ballston Spa vs the rest of New York
Find out how investing in new windows in Ballston Spa compares to other nearby New York cities.