Description
Value You Can Measure
Hartwick property owners have many excellent reasons to change their windows. Updating damaged windows, refining the aesthetics of your home etc… Some such benefits can be quantified relatively exactly.
First of all, windows preserve about 72.3 percent of their initial purchase value in New England according to the Remodeling 2020 Cost vs. Value Report. This sets windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, households located in Hartwick, will most probably experience significant drops on daily costs for home energy. If you already have dual pane windows you could save around $184.07 compared to $174 in Buffalo. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $515.92 every year, compared to $452 in Buffalo.
Improve your Hartwick Home’s Value through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows may 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 estimate : What’s the premium for energy savings when it comes time to sell? What follows is what we discovered in Hartwick:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Hartwick, your home value could increase by between $1104.4 and $1616.1 for a mid-tier or top-tier Hartwick home respectively. For comparison, the same upgrade in Buffalo could yield somewhere between $1044 and $1527.72.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Hartwick homeowners may yield an estimated home value increase of between $3095.51 for mid-tier homes and $4529.76 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.
In other words, a window upgrade in Hartwick can add anywhere from 0.64% percent and 2.63 % 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 worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Hartwick homeowner is quite clear.
The variation between the range for Hartwick and Buffalo, which for reference, would yield a potential premium range of 0.61% percent and 0.89% percent respectively, is derived from a number of factors, particularly; the 0.64% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the Oneonta region, and energy price differences between Hartwick and Buffalo.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research executed by the National Association of Homebuilders. Hartwick 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: Hartwick vs the rest of New York
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