Value You Can Measure
Dobbs Ferry property owners have countless strong reasons to change their windows. Updating damaged windows, refining the aesthetics of your home etc… Certain such benefits can be counted 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, people living in Dobbs Ferry, can expect to notice significant decreases on daily expenditures for heating & cooling. If you already have dual pane windows you may save around $263.12 compared to $174 in Buffalo. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $1017.94 per year, compared to $452 in Buffalo.
Improve your Dobbs Ferry Home’s Resale Price through Energy Savings
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Upgrading 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 return on investment on energy savings on the market? This is what we found in Dobbs Ferry:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Dobbs Ferry, your home value could increase by between $2778.6 and $3874.78 for a mid-tier or top-tier Dobbs Ferry home respectively. Compare this to, the same replacement in Buffalo may get you somewhere between $1837.44 and $2562.32.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Dobbs Ferry homeowners may expect an estimated home value increase of between $10749.42 for mid-tier homes and $14990.15 for the top tier. Compare this to between $4773.12 and $6656.15 in Buffalo.
Put differently, a window investment in Dobbs Ferry can add anywhere from 0.4% percent and 2.14 % 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 initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Dobbs Ferry homeowner is quite strong.
The variation between the range for Dobbs Ferry and Buffalo, which for reference, would yield a potential premium range of 0.26% percent and 0.37% percent respectively, is dependent on a number of factors, in particular; the 5.69% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the New York-Newark-Jersey City region, and energy cost differences between Dobbs Ferry and Buffalo.
The data presented is based on EnergyStar, the NREL,Department of Energy and professional research done by the NAHB. Dobbs Ferry home value data is provided by Zillow.
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