Value You Can Measure
Altmar homeowners have a variety valid reasons to change their windows. Replacing leaky windows, renewing the look and feel of your home etc… Some such values can be calculated relatively 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 sets windows among the top 5 home improvement investments in terms of value retention.
In terms of energy savings, households located in Altmar, will most probably see significant declines on weekly costs for electricity. If you already have dual pane windows you could save approximately $170.64 compared to $174 in Buffalo. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $430.66 per annum, compared to $452 in Buffalo.
Build your Altmar Home’s Value through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may 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 find out : What’s the premium for energy savings when it comes time to sell? Here is what we estimated in Altmar:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Altmar, your home value could increase by between $853.2 and $1134.75 for a mid-tier or top-tier Altmar home respectively. For comparison, the same replacement in Buffalo may get you somewhere between $870 and $1157.1.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Altmar homeowners could see an estimated home value increase of between $2153.3 for mid-tier homes and $2863.89 for the top tier. Compare this to between $2260 and $3005.8 in Buffalo.
Another way to look at it, a window upgrade in Altmar can add anywhere from 1.04% percent and 3.48 % percent to the sale price 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 Altmar homeowner is quite clear.
The variation between the range for Altmar and Buffalo, which for reference, would yield a potential premium range of 1.06% percent and 1.4% percent respectively, may come from a number of factors, in particular; the -0.21% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Syracuse region, and heating & cooling cost differences between Altmar and Buffalo.
The data presented is based on EnergyStar, the NREL,Department of Energy and professional research performed by the NAHB. Altmar home value data is provided by Zillow.
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