Savings Category: Replacement Window Savings

Description

Value You Can Measure

Galway property owners have a multitude good reasons to change their windows. Updating broken windows, changing the decor of your home etc… Many such values should be quantified quite precisely.

To start, 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.

In terms of energy savings, houses in Galway, are likely to notice large declines on daily costs for heating & cooling. If you already have dual pane windows you could save about $190.57 compared to $174 in Buffalo. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $557.25 annually, compared to $452 in Buffalo.

Improve your Galway 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 estimate : What’s the premium for energy savings when it comes time to sell? What follows is what we discovered in Galway:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Galway, your home value could increase by around $1143.45 and $1673.24 for a mid-tier or top-tier Galway home respectively. Compare this to, the same upgrade in Buffalo may get you somewhere between $1044 and $1527.72.

Single-Pane to National Vinyl

When upgrading from low-efficiency single-pane windows, the potential is even greater. Galway homeowners could expect an estimated home value gain of between $3343.48 for mid-tier homes and $4892.62 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.

Another way to look at it, a window investment in Galway can add between 0.53% percent and 2.27 % percent to the sale 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 Galway homeowner is quite clear.

The variation between the range for Galway and Buffalo, which for reference, would yield a potential premium range of 0.48% percent and 0.71% percent respectively, can be estimated from a number of factors, primarily; the 1.06% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Albany-Schenectady-Troy region, and heating & cooling price differences between Galway and Buffalo.

The data presented is based on EnergyStar, the NREL,Department of Energy and expert research done by the National Association of Homebuilders. Galway home value data is provided by Zillow.

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