Value You Can Measure
Chester residents have countless good reasons to change their windows. Upgrading damaged windows, refining the style of your home etc… Some such benefits may be calculated relatively explicitly.
To start, windows retain 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, residents of Chester, will most probably see large declines on annual spending for energy. If you already have dual pane windows you could save approximately $205.85 compared to $174 in Buffalo. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $654.22 per annum, compared to $452 in Buffalo.
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Increase your Chester Home’s Resale Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows may 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 determine : What’s the ROI on energy savings when it comes time to sell? What follows is what we estimated in Chester:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Chester, your home value could increase by around $1235.08 and $1807.33 for a mid-tier or top-tier Chester home respectively. Compare this to, the same replacement in Buffalo could yield somewhere between $1044 and $1527.72.
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Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Chester homeowners could see an estimated home value gain of between $3925.33 for mid-tier homes and $5744.06 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.
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Another way to look at it, a window investment in Chester can add between 0.39% percent and 1.81 % percent to the asking price of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Chester homeowner is quite clear.
The variation between the range for Chester and Buffalo, which for reference, would yield a potential premium range of 0.33% percent and 0.48% percent respectively, is dependent on a number of factors, principally; the 2.03% 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 heating & cooling cost differences between Chester and Buffalo.
The data presented is based on EnergyStar, the NREL,Department of Energy and incredible research performed by the National Association of Homebuilders. Chester home value data is provided by Zillow.
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