Description
Value You Can Measure
Moriches homeowners have a multitude valid reasons to change their windows. Upgrading leaky windows, improving the aesthetics of your home etc… Certain such benefits may be measured relatively clearly.
For starters, 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, homeowners in Moriches, should have significant drops on weekly spending for electricity. If you already have dual pane windows you may save approximately $215.53 compared to $174 in Buffalo. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $715.72 annually, compared to $452 in Buffalo.
Grow your Moriches Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may increase 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to figure out : What’s the return on energy savings when selling the house? This is what we uncovered in Moriches:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Moriches, your home value could increase by between $1293.19 and $1892.37 for a mid-tier or top-tier Moriches home respectively. For comparison, the same replacement 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. Moriches homeowners could see an estimated home value gain of between $4294.34 for mid-tier homes and $6284.04 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.
In other words, a window investment in Moriches can add between 0.34% percent and 1.64 % percent to the value 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 Moriches homeowner is relatively clear.
The variation between the range for Moriches and Buffalo, which for reference, would yield a potential premium range of 0.27% percent and 0.4% percent respectively, can be estimated from a number of factors, in particular; the 2.65% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the New York-Newark-Jersey City region, and heating & cooling cost differences between Moriches and Buffalo.
The data presented is based on EnergyStar, the NREL,Department of Energy and extensive research executed by the NAHB. Moriches 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: Moriches vs the rest of New York
Find out how investing in new windows in Moriches compares to other nearby New York cities.