Description
Value You Can Measure
Chappaqua property owners have a variety excellent reasons to replace their windows. Repairing broken windows, changing the aesthetics of your home etc… Some such values can be calculated quite clearly.
To begin with, windows maintain about 72.3 percent of their initial purchase value in New England according to the Remodeling 2020 Cost vs. Value Report. This puts windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, homeowners in Chappaqua, should see considerable reductions on monthly expenditures for heating & cooling. If you already have dual pane windows you may save about $288.24 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 $1177.44 per annum, compared to $452 in Buffalo.
Grow your Chappaqua Home’s Asking Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows may increase 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 uncover : What’s the ROI on energy savings on the market? Below is what we discovered in Chappaqua:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Chappaqua, your home value could increase by between $3043.85 and $4244.67 for a mid-tier or top-tier Chappaqua home respectively. For comparison, the same replacement in Buffalo could yield 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. Chappaqua homeowners could see an estimated home value increase of between $12433.74 for mid-tier homes and $17338.95 for the top tier. Compare this to between $4773.12 and $6656.15 in Buffalo.
In other words, a window investment in Chappaqua can add between 0.35% percent and 1.99 % percent to the sale 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 Chappaqua homeowner is relatively strong.
The variation between the range for Chappaqua and Buffalo, which for reference, would yield a potential premium range of 0.21% percent and 0.29% percent respectively, may come from a number of factors, primarily; the 7.3% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the New York-Newark-Jersey City region, and energy price differences between Chappaqua and Buffalo.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and extensive research performed by the NAHB. Chappaqua 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: Chappaqua vs the rest of New York
Find out how investing in new windows in Chappaqua compares to other nearby New York cities.