Description
Value You Can Measure
Fayetteville property owners have a variety strong reasons to change their windows. Updating leaky windows, revamping the aesthetics of your home etc… Many such values can be calculated rather exactly.
To start, windows retain 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.
In terms of energy savings, homeowners in Fayetteville, are likely to experience considerable savings on annual costs for home energy. If you already have dual pane windows you may save around $186.63 compared to $174 in Buffalo. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $532.19 annually, compared to $452 in Buffalo.
Improve your Fayetteville 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 ascertain : What’s the premium for energy savings when selling the house? This is what we discovered in Fayetteville:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Fayetteville, your home value could increase by around $1119.77 and $1638.6 for a mid-tier or top-tier Fayetteville home respectively. Compare this to, the same upgrade in Buffalo could add somewhere between $1044 and $1527.72.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Fayetteville homeowners may expect an estimated home value gain of between $3193.15 for mid-tier homes and $4672.64 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.
Another way to look at it, a window upgrade in Fayetteville can add anywhere from 0.59% percent and 2.47 % 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 initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Fayetteville homeowner is relatively clear.
The variation between the range for Fayetteville and Buffalo, which for reference, would yield a potential premium range of 0.55% percent and 0.81% percent respectively, may come from a number of factors, especially; the 0.81% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Syracuse region, and heating & cooling cost differences between Fayetteville and Buffalo.
The data presented is derived from EnergyStar, the NREL,Department of Energy and extensive research executed by the National Association of Homebuilders. Fayetteville 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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