Description
Value You Can Measure
Bloomingburg homeowners have a whole host strong reasons to replace their windows. Replacing leaky windows, refining the style of your home etc… Other such benefits can be calculated quite clearly.
To begin with, windows conserve 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.
In terms of energy savings, households located in Bloomingburg, may see large declines on daily costs for home energy. If you already have dual pane windows you may save around $197.5 compared to $174 in Buffalo. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $601.19 per annum, compared to $452 in Buffalo.
Grow your Bloomingburg Home’s Resale Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows may add to 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to find out : What’s the premium for energy savings when selling the house? Below is what we uncovered in Bloomingburg:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Bloomingburg, your home value could increase by between $1184.97 and $1734.01 for a mid-tier or top-tier Bloomingburg home respectively. For comparison, the same upgrade in Buffalo could add somewhere between $1044 and $1527.72.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Bloomingburg homeowners could yield an estimated home value gain of between $3607.17 for mid-tier homes and $5278.49 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.
In other words, a window investment in Bloomingburg can add anywhere from 0.45% percent and 2.01 % percent to the value of your home via 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 Bloomingburg homeowner is quite clear.
The variation between the range for Bloomingburg and Buffalo, which for reference, would yield a potential premium range of 0.4% percent and 0.58% percent respectively, can be estimated from a number of factors, notably; the 1.5% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the region, and energy price differences between Bloomingburg and Buffalo.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and extensive research done by the National Association of Homebuilders. Bloomingburg 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: Bloomingburg vs the rest of New York
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