Description
Value You Can Measure
Fort Salonga property owners have a whole host good reasons to change their windows. Updating leaky windows, improving the style of your home etc… Some such features should be counted rather exactly.
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 places windows among the top 5 home improvement investments in terms of value retention.
With regards to energy savings, houses in Fort Salonga, are likely to have large drops on monthly bill for energy. If you already have dual pane windows you may save around $265.45 compared to $174 in Buffalo. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $1032.71 every year, compared to $452 in Buffalo.
Improve your Fort Salonga Home’s Resale Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows may 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to find out : What’s the premium for energy savings when selling the house? The following is what we estimated in Fort Salonga:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Fort Salonga, your home value could increase by between $2803.16 and $3909.03 for a mid-tier or top-tier Fort Salonga 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. Fort Salonga homeowners may expect an estimated home value increase of between $10905.41 for mid-tier homes and $15207.67 for the top tier. Compare this to between $4773.12 and $6656.15 in Buffalo.
Put differently, a window investment in Fort Salonga can add between 0.39% percent and 2.12 % percent to the sale price of your home through 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 Fort Salonga homeowner is relatively clear.
The variation between the range for Fort Salonga and Buffalo, which for reference, would yield a potential premium range of 0.26% percent and 0.36% percent respectively, is derived from a number of factors, notably; the 5.84% 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 energy cost differences between Fort Salonga and Buffalo.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and meticulous research performed by the National Association of Homebuilders. Fort Salonga 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: Fort Salonga vs the rest of New York
Find out how investing in new windows in Fort Salonga compares to other nearby New York cities.