Value You Can Measure
Dryden property owners have plenty great reasons to replace their windows. Replacing old windows, renewing the style of your home etc… Many such benefits should be measured rather precisely.
Firstly, windows retain 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, houses in Dryden, should have major savings on daily bill for home energy. If you already have dual pane windows you could save around $187.75 compared to $174 in Buffalo. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $539.32 per annum, compared to $452 in Buffalo.
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Improve your Dryden Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows can 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 figure out : What’s the return on energy savings when selling the house? Here is what we discovered in Dryden:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Dryden, your home value could increase by between $1126.51 and $1648.45 for a mid-tier or top-tier Dryden home respectively. For comparison, 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. Dryden homeowners could yield an estimated home value gain of between $3235.9 for mid-tier homes and $4735.2 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.
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Put differently, a window investment in Dryden can add between 0.57% percent and 2.4 % percent to the asking price of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Dryden homeowner is relatively clear.
The variation between the range for Dryden and Buffalo, which for reference, would yield a potential premium range of 0.53% percent and 0.78% percent respectively, is derived from a number of factors, particularly; the 0.88% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Ithaca region, and heating & cooling price differences between Dryden and Buffalo.
The data presented is derived from EnergyStar, the NREL,Department of Energy and incredible research conducted by the National Association of Homebuilders. Dryden home value data is provided by Zillow.
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