Description
Value You Can Measure
Windsor property owners have a whole host good reasons to change their windows. Repairing broken windows, refining the style of your home etc… Other such features can be measured rather exactly.
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 sets windows among the top 5 home improvement investments in terms of value retention.
With regards to energy savings, households located in Windsor, will most probably notice important decreases on monthly expenditures for heating & cooling. If you already have dual pane windows you may save about $178.11 compared to $174 in Buffalo. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $478.09 every year, compared to $452 in Buffalo.
Increase your Windsor Home’s Asking Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows can 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to estimate : What’s the return on energy savings if you put your house up for sale? What follows is what we estimated in Windsor:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Windsor, your home value could increase by between $890.54 and $1184.42 for a mid-tier or top-tier Windsor home respectively. For comparison, the same upgrade in Buffalo could yield somewhere between $870 and $1157.1.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Windsor homeowners may yield an estimated home value gain of between $2390.44 for mid-tier homes and $3179.28 for the top tier. Compare this to between $2260 and $3005.8 in Buffalo.
In other words, a window investment in Windsor can add between 0.67% percent and 2.4 % percent to the value of your home via 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 Windsor homeowner is relatively clear.
The variation between the range for Windsor and Buffalo, which for reference, would yield a potential premium range of 0.66% percent and 0.87% percent respectively, is dependent on a number of factors, primarily; the 0.26% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Binghamton region, and energy cost differences between Windsor and Buffalo.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and expert research executed by the National Association of Homebuilders. Windsor 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: Windsor vs the rest of New York
Find out how investing in new windows in Windsor compares to other nearby New York cities.