Savings Category: Replacement Window Savings

Description

Value You Can Measure

Beacon property owners have a multitude excellent reasons to change their windows. Replacing damaged windows, changing the style of your home etc… Other such values should be counted rather precisely.

For starters, windows retain 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, residents of Beacon, should notice dramatic savings on monthly bill for electricity. If you already have dual pane windows you could save about $209.07 compared to $174 in Buffalo. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $674.69 every year, compared to $452 in Buffalo.

Build your Beacon Home’s Asking Price through Energy Savings

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Upgrading your windows to EnergyStar rated National Vinyl windows could add to the value 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 when selling the house? Below is what we found in Beacon:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Beacon, your home value could increase by between $1254.42 and $1835.63 for a mid-tier or top-tier Beacon home respectively. For comparison, 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. Beacon homeowners could see an estimated home value gain of between $4048.14 for mid-tier homes and $5923.78 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.

Put differently, a window upgrade in Beacon can add anywhere from 0.37% percent and 1.74 % percent to the sale price 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 Beacon homeowner is quite strong.

The variation between the range for Beacon and Buffalo, which for reference, would yield a potential premium range of 0.31% percent and 0.45% percent respectively, can be estimated from a number of factors, especially; the 2.24% percent difference in median home prices, a buyers’ likelihood 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 Beacon and Buffalo.

The data presented is based on EnergyStar, the NREL,Department of Energy and meticulous research done by the National Association of Homebuilders. Beacon home value data is provided by Zillow.

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Energy Savings & ROI: Beacon vs the rest of New York

Find out how investing in new windows in Beacon compares to other nearby New York cities.