Value You Can Measure
Fishkill homeowners have many good reasons to replace their windows. Upgrading leaky windows, renewing the look and feel of your home etc… Many such benefits should be counted relatively clearly.
To start, windows conserve 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 Fishkill, should experience dramatic reductions on annual bill for electricity. If you already have dual pane windows you could save about $205.1 compared to $174 in Buffalo. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $649.47 per year, compared to $452 in Buffalo.
Build your Fishkill 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 determine : What’s the return on energy savings if you sell your home? The following is what we found in Fishkill:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Fishkill, your home value could increase by between $1230.58 and $1800.75 for a mid-tier or top-tier Fishkill home respectively. Compare this to, the same replacement 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. Fishkill homeowners may see an estimated home value increase of between $3896.79 for mid-tier homes and $5702.31 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.
Another way to look at it, a window upgrade in Fishkill can add between 0.39% percent and 1.82 % percent to the sale price of your home via the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Fishkill homeowner is quite clear.
The variation between the range for Fishkill and Buffalo, which for reference, would yield a potential premium range of 0.33% percent and 0.49% percent respectively, is derived from a number of factors, especially; the 1.99% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the New York-Newark-Jersey City region, and heating & cooling cost differences between Fishkill and Buffalo.
The data presented is based on EnergyStar, the NREL,Department of Energy and extensive research executed by the National Association of Homebuilders. Fishkill home value data is provided by Zillow.
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