Value You Can Measure
Hamilton homeowners have a variety valid reasons to replace their windows. Updating broken windows, revamping the decor of your home etc… Other such features can be counted rather exactly.
For starters, windows preserve 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.
As for energy savings, homes in Hamilton, can expect to experience significant declines on daily bill for energy. If you already have dual pane windows you may save around $183.22 compared to $174 in Buffalo. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $510.52 per annum, compared to $452 in Buffalo.
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Build your Hamilton Home’s Value through Energy Savings
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Upgrading 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to evaluate : What’s the return on energy savings when selling the house? This is what we estimated in Hamilton:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Hamilton, your home value could increase by around $1099.29 and $1608.63 for a mid-tier or top-tier Hamilton home respectively. Compare this to, the same upgrade in Buffalo may get you somewhere between $1044 and $1527.72.
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Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Hamilton homeowners could see an estimated home value gain of between $3063.09 for mid-tier homes and $4482.32 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.
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In other words, a window upgrade in Hamilton can add between 0.66% percent and 2.69 % percent to the asking price of your home via the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Hamilton homeowner is relatively clear.
The variation between the range for Hamilton and Buffalo, which for reference, would yield a potential premium range of 0.63% percent and 0.92% percent respectively, can be estimated from a number of factors, notably; the 0.59% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the Syracuse region, and energy cost differences between Hamilton and Buffalo.
The data presented is derived from EnergyStar, the NREL,Department of Energy and incredible research conducted by the National Association of Homebuilders. Hamilton home value data is provided by Zillow.
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