Value You Can Measure
Clinton homeowners have a variety strong reasons to upgrade their windows. Repairing leaky windows, improving the aesthetics of your home etc… Certain such values should be measured quite clearly.
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 places windows among the top 5 home improvement investments in terms of value retention.
With regards to energy savings, homes in Clinton, are likely to experience considerable drops on weekly costs for electricity. If you already have dual pane windows you may save around $187.83 compared to $174 in Buffalo. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $539.82 per year, compared to $452 in Buffalo.
Improve your Clinton Home’s Asking Price through Energy Savings
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Switching 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 answer the question : What’s the premium for energy savings when it comes time to sell? The following is what we estimated in Clinton:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Clinton, your home value could increase by around $1126.98 and $1649.15 for a mid-tier or top-tier Clinton home respectively. Compare this to, the same replacement in Buffalo could yield somewhere between $1044 and $1527.72.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Clinton homeowners may expect an estimated home value increase of between $3238.93 for mid-tier homes and $4739.63 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.
In other words, a window investment in Clinton can add anywhere from 0.57% percent and 2.4 % percent to the value 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 initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Clinton homeowner is quite strong.
The variation between the range for Clinton and Buffalo, which for reference, would yield a potential premium range of 0.53% percent and 0.77% percent respectively, is derived from a number of factors, in particular; the 0.88% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the Utica-Rome region, and energy price differences between Clinton and Buffalo.
The data presented is derived from EnergyStar, the NREL,Department of Energy and extensive research done by the National Association of Homebuilders. Clinton home value data is provided by Zillow.
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