Value You Can Measure
Cold Spring Harbor residents have countless great reasons to upgrade their windows. Updating broken windows, improving the look and feel of your home etc… Some such benefits can be measured rather accurately.
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.
With regards to energy savings, houses in Cold Spring Harbor, should have important savings on monthly spending for heating & cooling. If you already have dual pane windows you could save about $321.85 compared to $174 in Buffalo. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $1390.83 per annum, compared to $452 in Buffalo.
Build your Cold Spring Harbor Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows could increase the asking 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 find out : What’s the return on investment on energy savings if you sell your home? Here is what we discovered in Cold Spring Harbor:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Cold Spring Harbor, your home value could increase by between $4184.03 and $6626.54 for a mid-tier or top-tier Cold Spring Harbor home respectively. Compare this to, the same replacement in Buffalo may get you somewhere between $2262 and $3582.49.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Cold Spring Harbor homeowners may yield an estimated home value gain of between $18080.77 for mid-tier homes and $28635.76 for the top tier. Compare this to between $5876 and $9306.23 in Buffalo.
In other words, a window investment in Cold Spring Harbor can add between 0.38% percent and 2.62 % percent to the sale price of your home via 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 Cold Spring Harbor homeowner is relatively strong.
The variation between the range for Cold Spring Harbor and Buffalo, which for reference, would yield a potential premium range of 0.21% percent and 0.33% percent respectively, is dependent on a number of factors, primarily; the 9.44% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the New York-Newark-Jersey City region, and energy cost differences between Cold Spring Harbor and Buffalo.
The data presented is derived from EnergyStar, the NREL,Department of Energy and meticulous research executed by the NAHB. Cold Spring Harbor home value data is provided by Zillow.
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