Description
Value You Can Measure
West Hempstead property owners have a whole host good reasons to replace their windows. Upgrading leaky windows, revamping the design of your home etc… Some such features can be measured rather precisely.
First of all, windows maintain 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.
As for energy savings, houses in West Hempstead, will most probably have large savings on monthly spending for energy. If you already have dual pane windows you could save about $237 compared to $174 in Buffalo. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $852.05 annually, compared to $452 in Buffalo.
Increase your West Hempstead Home’s Resale Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows can 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to evaluate : What’s the return on energy savings when selling the house? The following is what we estimated in West Hempstead:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in West Hempstead, your home value could increase by around $2502.73 and $3490.07 for a mid-tier or top-tier West Hempstead home respectively. Compare this to, the same replacement in Buffalo may get you somewhere between $1837.44 and $2562.32.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. West Hempstead homeowners may yield an estimated home value gain of between $8997.66 for mid-tier homes and $12547.3 for the top tier. Compare this to between $4773.12 and $6656.15 in Buffalo.
Another way to look at it, a window investment in West Hempstead can add between 0.48% percent and 2.38 % percent to the asking price of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a West Hempstead homeowner is quite strong.
The variation between the range for West Hempstead and Buffalo, which for reference, would yield a potential premium range of 0.35% percent and 0.49% percent respectively, is dependent on a number of factors, principally; the 4.02% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the New York-Newark-Jersey City region, and heating & cooling cost differences between West Hempstead and Buffalo.
The data presented is derived from EnergyStar, the NREL,Department of Energy and extensive research done by the NAHB. West Hempstead 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 Hempstead vs the rest of New York
Find out how investing in new windows in West Hempstead compares to other nearby New York cities.