Description
Value You Can Measure
Cooperstown homeowners have a multitude excellent reasons to upgrade their windows. Updating broken windows, revamping the aesthetics of your home etc… Other such benefits should be calculated rather 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 Cooperstown, will most probably experience dramatic decreases on annual costs for energy. If you already have dual pane windows you could save about $200.96 compared to $174 in Buffalo. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $623.21 per annum, compared to $452 in Buffalo.
Build your Cooperstown Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows could 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to ascertain : What’s the ROI on energy savings when selling the house? Below is what we uncovered in Cooperstown:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Cooperstown, your home value could increase by around $1205.77 and $1764.45 for a mid-tier or top-tier Cooperstown home respectively. Compare this to, the same upgrade in Buffalo may get you somewhere between $1044 and $1527.72.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Cooperstown homeowners could expect an estimated home value increase of between $3739.25 for mid-tier homes and $5471.77 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.
Put differently, a window upgrade in Cooperstown can add anywhere from 0.42% percent and 1.92 % percent to the value 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 Cooperstown homeowner is relatively clear.
The variation between the range for Cooperstown and Buffalo, which for reference, would yield a potential premium range of 0.37% percent and 0.54% percent respectively, is dependent on a number of factors, notably; the 1.72% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the Oneonta region, and energy cost differences between Cooperstown and Buffalo.
The data presented is derived from EnergyStar, the NREL,Department of Energy and expert research performed by the NAHB. Cooperstown 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: Cooperstown vs the rest of New York
Find out how investing in new windows in Cooperstown compares to other nearby New York cities.