Description
Value You Can Measure
Chazy residents have countless valid reasons to replace their windows. Replacing damaged windows, changing the style of your home etc… Other such features should be measured relatively precisely.
To start, windows conserve 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.
In terms of energy savings, homes in Chazy, may have significant drops on monthly expenditures for electricity. If you already have dual pane windows you could save around $178.12 compared to $174 in Buffalo. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $478.19 every year, compared to $452 in Buffalo.
Improve your Chazy Home’s Resale Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows can increase the sale 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 answer the question : What’s the premium for energy savings on the market? What follows is what we uncovered in Chazy:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Chazy, your home value could increase by between $890.62 and $1184.53 for a mid-tier or top-tier Chazy home respectively. For comparison, the same replacement 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. Chazy homeowners could expect an estimated home value increase of between $2390.96 for mid-tier homes and $3179.97 for the top tier. Compare this to between $2260 and $3005.8 in Buffalo.
Another way to look at it, a window investment in Chazy 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 initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Chazy homeowner is quite strong.
The variation between the range for Chazy and Buffalo, which for reference, would yield a potential premium range of 0.66% percent and 0.87% percent respectively, can be estimated from a number of factors, primarily; the 0.26% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the Plattsburgh region, and energy price differences between Chazy and Buffalo.
The data presented is based on EnergyStar, the NREL,Department of Energy and incredible research executed by the National Association of Homebuilders. Chazy 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: Chazy vs the rest of New York
Find out how investing in new windows in Chazy compares to other nearby New York cities.