Savings Category: Replacement Window Savings

Description

Value You Can Measure

Albany homeowners have a variety excellent reasons to upgrade their windows. Upgrading leaky windows, refining the decor of your home etc… Some such values can be counted rather exactly.

Firstly, windows preserve 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.

In terms of energy savings, houses in Albany, will most probably notice dramatic drops on monthly costs for home energy. If you already have dual pane windows you may save about $186.33 compared to $174 in Buffalo. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $530.32 per year, compared to $452 in Buffalo.

Grow your Albany Home’s Value through Energy Savings

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Upgrading your windows to EnergyStar rated National Vinyl windows could 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 ascertain : What’s the premium for energy savings when it comes time to sell? This is what we uncovered in Albany:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Albany, your home value could increase by around $1118.01 and $1636.02 for a mid-tier or top-tier Albany home respectively. Compare this to, the same upgrade in Buffalo may get you somewhere between $1044 and $1527.72.

Single-Pane to National Vinyl

When upgrading from low-efficiency single-pane windows, the potential is even greater. Albany homeowners may yield an estimated home value gain of between $3181.93 for mid-tier homes and $4656.23 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.

Another way to look at it, a window investment in Albany can add anywhere from 0.6% percent and 2.48 % percent to the asking price of your home through the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Albany homeowner is relatively strong.

The variation between the range for Albany and Buffalo, which for reference, would yield a potential premium range of 0.56% percent and 0.81% percent respectively, may come from a number of factors, particularly; the 0.79% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Albany-Schenectady-Troy region, and energy cost differences between Albany and Buffalo.

The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and extensive research executed by the NAHB. Albany home value data is provided by Zillow.

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