Value You Can Measure
Hagaman residents have countless great reasons to upgrade their windows. Replacing old windows, changing the aesthetics of your home etc… Other such values should be quantified quite precisely.
To begin with, 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.
With regards to energy savings, residents of Hagaman, are likely to notice large decreases on daily expenditures for electricity. If you already have dual pane windows you may save around $180.93 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 $495.99 per annum, compared to $452 in Buffalo.
Build your Hagaman Home’s Value through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows could 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 estimate : What’s the return on energy savings when it comes time to sell? Below is what we found in Hagaman:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Hagaman, your home value could increase by around $1085.56 and $1588.54 for a mid-tier or top-tier Hagaman home respectively. For comparison, 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. Hagaman homeowners may yield an estimated home value gain of between $2975.92 for mid-tier homes and $4354.76 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.
In other words, a window investment in Hagaman can add between 0.72% percent and 2.88 % percent to the asking price of your home via 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 Hagaman homeowner is relatively clear.
The variation between the range for Hagaman and Buffalo, which for reference, would yield a potential premium range of 0.69% percent and 1.01% percent respectively, is derived from a number of factors, especially; the 0.44% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the Amsterdam region, and energy cost differences between Hagaman and Buffalo.
The data presented is based on EnergyStar, the NREL,Department of Energy and professional research conducted by the NAHB. Hagaman home value data is provided by Zillow.
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